Mumbai, Feb 28 : Public sector lender on Bank on Monday said it will raise up to Rs 1,500 crore by issuing Basel III compliant bonds on private placement basis. The base issue size of the bond offer is Rs 500 crore with a green shoe option of up to Rs 1,000 crore, aggregating up to Rs 1,500 crore, on private placement basis, the state-run bank said in a regulatory filing. The perpetual bonds are eligible for inclusion in additional Tier-I capital, offering a coupon rate of 8.50 per cent per annum. The bank has fixed March 2 as the allotment date and the bonds are proposed to be listed on the National Stock Exchange. PSK MR
Union Bank to raise Rs 1,500 cr
