Union Bank of India Issues ₹7,500 Crore in Long-Term Bonds
Union Bank of India announced the issuance of long-term bonds totaling ₹7,500 crore on March 24, 2026. The bond issuance, designed to finance infrastructure and affordable housing projects, had a base issue size of ₹3,000 crore with a green shoe option of ₹4,500 crore, offered on a private placement basis.Key details of the bond issuance are outlined below:
| Particulars | Details |
|---|---|
| ISIN | INE692A08235 |
| Issue Size | ₹ 7,500 Crore with a base issue size of ₹3,000 Crore and Green shoe option of ₹ 4,500 Crore on a Private Placement Basis. |
| Instrument | Senior, rated, listed, unsecured, redeemable, taxable, transferable Long Term fully paid- up Non-Convertible Bonds in the nature of Debentures ('Bonds') |
| No of Bonds | 3,00,000 (Three lakh) |
| Face Value | Rs.1,00,000/- (Rupees One lakh) per Bond |
| Issue opened on | 20.03.2026 |
| Issue closed on | 20.03.2026 |
| Date of Allotment | 24.03.2026 |
| Date of Redemption | 24.03.2036 |
| Tenure | 10 years |
| Listing Status | Proposed to be listed on National Stock Exchange |
| Coupon Rate | 7.16 %p.a. |
| Interest Payment | Interest to be paid annually every year till redemption |
| Secured/Unsecured | Unsecured |
| Bid Accepted | Rs.3000 Crore |
| Credit Rating | 'CARE AAA/Stable' by CARE Ratings Ltd. 'ICRA AAA /Stable' by ICRA Ratings Ltd. |
| Put Option | Not applicable. |
| Call Option | Not applicable. |
| Depositories | National Securities Depository Limited ('NSDL') and Central Depository Services (India) Limited ('CDSL') |
| Issuance & Trading | In dematerialized form only |
The bonds are rated 'CARE AAA/Stable' by CARE Ratings Ltd. and 'ICRA AAA /Stable' by ICRA Ratings Ltd. The bonds will be traded in dematerialized form and are expected to be listed on the National Stock Exchange. Ashish Mishra, Company Secretary, made the announcement.
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