Union Bank Of India To Raise $300 Mn Through Bonds
Union Bank of India is raising $300 Mn (Rs.1,385.1 Cr) through issue of bonds through 5.5 year bonds at 315 basis above comparable US Treasury.
Barclays Capital, Standard Chartered Bank, Citibank, Deutsche Bank and UBS are the arrangers for the issue.
Transaction Reference: BS
This year in April, Union Bank pulled a sale of bonds denominated in dollars as market conditions soured.
Union Bank's operating profit for the quarter Q1-11 grew by 32.53 % to Rs.1043 Cr as against Rs.787 Cr in the corresponding quarter of the previous year. It registered a net profit of Rs.601 Cr for Q1 as against Rs.442 Cr in the previous year.
Last week, IDBI Bank raised $350 Mn (Rs.1,615.95 Cr) through 5.5 years bonds, while in July SBI had raised $1 Bn (Rs.4,617 Cr) through five-year bonds.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 15/02/06 | Union Bank of India - IPO | IPO / Offerings | 111.81 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 07/02/12 | M&A | Piramal Healthcare Limited | Looking For | - | Planned |
| 07/02/12 | Private Equity | Life Insurance Corporation of India | Dena Bank | 25.49 | Announced |
| 02/02/12 | Private Equity | AU Financiers India Private Limited | - | Planned | |
| 01/02/12 | M&A | Kotak Mahindra Bank Limited | Credit Card Portfolio | - | Completed |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Union Bank Of India | Government Of India | 239 Vidhan Bhavan Marg, Central Office, Nariman Point, Mumbai -21. |
State Bank of India Punjab National Bank Axis Bank Limited Bank Of Baroda Bank of India |
www.unionbankofindia.co.in |
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