Published on 21/03/2017 11:11:18 AM | Source: Dion Global Solutions Ltd.

Ind-Ra assigns AA/Stable' rating to UBI’s Tier 1 bonds

Union Bank of India has said in a filing to the Bombay Stock Exchange that India Ratings and Research Private Limited has assigned ‘IND AA/Stable' rating to the Bank's proposed fresh issue of Basel III compliant Additional Tier 1 bonds of Rs.1500 crore. Union Bank of India is one of the largest government-owned banks of India. It is listed on the Forbes 2000, and has assets of USD 13.45 billion.

All the bank's branches have been networked with its 6909 ATMs as on 30 September 2015. Meanwhile, shares of the bank were trading at Rs 156 apiece, down 1.05 per cent from the previous close at 09:29 hours on BSE.