Union Bank raises USD 500 million from overseas market
The fund was arranged by Dubai International Financial Centre (DIFC), Dubai Branch, Union Bank of India said in a regulatory filing.
State-owned Union Bank of India on Wednesday said it has raised USD 500 million (about Rs 4,200 crore) from foreign markets to fund overseas business growth.
The fund was arranged by Dubai International Financial Centre (DIFC), Dubai Branch, Union Bank of India said in a regulatory filing.
A syndicated term loan of USD 500 million (USD 400 million and Green Shoe of USD 100 million) would be drawn in two tranches with tenure of 3 and 5 years.
The first tranche of USD 100 million was drawn on Wednesday, it said. This is the maiden syndicated term loan raised by Union Bank of India at an overseas centre, it added.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Special Live Trading Session on Saturday: Know why BSE, NSE will remain open on May 18; check timings
Gold and Silver rate today (May 16, 2024): Yellow metal futures subdued; white metal hits record high breaches Rs 87,000 mark
SBI Senior Citizen FD Rates: What Rs 1 lakh, Rs 3 lakh, and 5 lakh investments will give you in 1-, 3- and 5-year FDs
Top 7 SIP Mutual Funds in 1 Year: What Rs 10,000, Rs 15,000, and Rs 20,000 SIPs have given in each fund
09:38 PM IST