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
IPL Auction 2025 Free Live Streaming: When and where to watch Indian Premier League 2025 mega auction live online, on TV, Mobile Apps, and Laptop?
Tamil Nadu Weather Alert: Chennai may receive heavy rains; IMD issues yellow & orange alerts in these districts
SIP vs PPF: How much corpus you can build in 15 years by investing Rs 1.5 lakh per year? Understand through calculations
SBI Senior Citizen Latest FD Rates: What senior citizens can get on Rs 7 lakh, Rs 14 lakh, and Rs 21 lakh investments in Amrit Vrishti, 1-, 3-, and 5-year fixed deposits
09:38 PM IST