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United Bank of India is planning to raise up to Rs 1,000 crore through issuing securities.
The bank has informed in BSE filing that “The Board of Directors…shall consider for approval the proposal for raising additional tier one capital under Basel-III norms up to Rs 1,000 crore through issuance of perpetual debt instruments.”
According to the bank, these subordinated, non-convertible, listed, Basel-III compliant additional tier one bonds will be in the form of debenture or promissory notes of the face value of Rs 10 lakh each.
