Union Bank of India has issued 2,500 Non-Convertible, Unsecured Subordinated Basel III Compliant Perpetual Debt Instruments eligible for inclusion in Additional Tier 1 Capital on March 29, 2016.

The Bond is issued for face value of Rs 10,00,000 each at par aggregating to Rs 2.50 billion on private placement basis bearing 9.10% p.a. coupon payable annually. The AT1 Bonds are rated 'AA+/Stable' by Brickwork Rating India and 'AA' by India Ratings and Research India Ratings.

Shares of the bank gained Rs 0.45, or 0.29%, to trade at Rs 156.50. The total volume of shares traded was 153,456 at the BSE (1.36 p.m., Thursday).