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(16/03/2026 10:51)

Union Bank board approves fund raising via bonds

Union Bank of India said the Committee of Directors for Fund Raising (Non-Capital) has approved plans to raise up to Rs 20,000 crore through long-term bonds in one or more tranches to finance infrastructure and affordable housing projects.

Out of the total, the bank may explore raising Rs 7,500 crore before March 31, 2026, comprising a base issue of Rs 3,000 crore and a greenshoe option of Rs 4,500 crore, with a tenor of 10 years.

The committee also approved the issuance of Green Bonds or Sustainable Bonds worth up to Rs 5,000 crore in one or more tranches.

The meeting of the committee was held on March 16, 2026, from 10:00 AM to 10:20 AM.
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