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Union Bank to raise $200 Million overseas
Wednesday, 29 December 2010, 23:38 IST
Mumbai: State-owned Union Bank of India today said it is planning to raise $200 million (about 
900 crore) from the overseas market in the next two months through a bond issue.
"We are planning to raise another $170-200 million Medium Term Notes (bonds) in the next two month's time through bonds," Union Bank of India Managing Director M V Nair told reporters here on the sidelines of a function here.
The bank which has already held a road show in Switzerland for this purpose, he said.
"Whether the funds will be raised via Swiss francs or Euro denominated bonds, will be decided later," he added.
The funds raised would be utilized for funding overseas business, Nair said.
In the last four months, the bank has raised $400 million from medium-term notes (MTR) and $175 million from bonds, he said.
Source: PTI
900 crore) from the overseas market in the next two months through a bond issue.
"We are planning to raise another $170-200 million Medium Term Notes (bonds) in the next two month's time through bonds," Union Bank of India Managing Director M V Nair told reporters here on the sidelines of a function here.
The bank which has already held a road show in Switzerland for this purpose, he said.
"Whether the funds will be raised via Swiss francs or Euro denominated bonds, will be decided later," he added.
The funds raised would be utilized for funding overseas business, Nair said.
In the last four months, the bank has raised $400 million from medium-term notes (MTR) and $175 million from bonds, he said.
Source: PTI