United Bank of India raises Rs 150 cr via bonds issue

State-run United Bank of India has raised Rs 150 crore through private placement of Basel III-compliant additional tier-I bonds.
"The bank has issued and allotted through private placement, rated, unsecured, non-convertible, perpetual, listed Basel-III compliant 11.95 per cent additional Tier-1 bonds of face value of Rs 10 lakh per Bond aggregating Rs 150 crore," it said in a BSE filing today.
The allotment was done yesterday, it added.
The issue, which opened on September 28, received an overwhelming response from investors and was oversubscribed in a single day.
The bank on Monday said that the over-subscription of the bonds issue could go up to Rs 200 crore.

Shares of United Bank of India closed at Rs 22.15 on BSE, down 0.45 per cent from previous close.