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United Bank of India to raise up to Rs 200 cr via NCDs

By Religare

Government-owned United Bank of India said that it will issue Basel-III compliant non-convertible bonds (NCDs) to raise up to Rs 200 crore.

"The bank proposes to issue and allot through private placement rated, unsecured, non-convertible, perpetual, listed Basel-III compliant additional tier-1 bonds of face value of Rs 10 lakh per bond aggregating up to Rs 200 crore," it said in a filing to the Bombay Stock Exchange.

According to the filing, the bond issue also includes over-subscription.


The issue is proposed to open on September 23 and close on September 28, it added.

Meanwhile, shares of the bank were trading at Rs 22.05 a piece, up 0.68 per cent from the previous close at 10:43 hours on BSE.

Story first published: Tuesday, September 22, 2015, 12:20 [IST]
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