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Union Bank of India issues 10B rupees of bonds

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Union Bank of India issues 10B rupees of bonds

Union Bank ofIndia said March 29 that it issued 10 billion rupees of BaselIII-compliant bonds on private placement basis.

The Tier 2 bonds carry an annual coupon rate of 8.61%. The bondsare due in 10 years, but are callable after five years.

As of March 29, US$1was equivalent to 66.44 Indian rupees.