BANK NEWS
Union Bank of India raised term loan to fund foreign business
Public Sector Lender Union Bank of India has stated that it has raised $500 million from foreign markets to fund overseas business growth.
The PSB has disclosed under Regulation 30 and 51 (1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. As per the official information, the DIFC Dubai Branch has arranged for a Syndicated Term Loan of USD 500 Mn (USD 400 Mn and Green Shoe of USD 100 Mn) in two tranches with a tenure of 3 years and 5 years.
Read Also : GMR Airports Infrastructure Limited acquires stakes in WAISL LtdThis is the maiden Syndicated Term Loan raised by Union Bank of India at an overseas center. Under this facility, USD 100 Mn under Tranche A was drawn on 03.04.2024.
The share prices of the lender are trading green at Rs 159.20, up by 1.08%.
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