Union Bank Raises 600M in Dollar Bonds
Union Bank of India raised 600 million dollars through its Dubai branch in its first dollar bond issuance in over a decade. The state-run lender issued three and five-year papers following a recent central bank discounted hedging facility.
Xurve View
Insights:
Xurve View
Union Bank of India accepted $600 million in bids for a U.S. dollar-denominated bond sale on Tuesday afternoon, returning to the international debt market after a 12-year absence. The state-run lender priced the offering through its Dubai branch in the United Arab Emirates. The issuance highlights a broader offshore fundraising wave among banks in India ahead of a regulatory deadline.
