UCO Bank approves raising of foreign currency funds of $ 1 Billion

UCO Bank has approved raising of foreign
currency fund to the extent of USD 1.00 Billion , in one or more tranches, by
issuance of Debt Instruments through Medium Term Note (MTN) Programme.

The meeting of Board of Directors was held today and the board has approved the raising of funds.

A Medium Term Note (MTN) Programme is a financing arrangement that allows a company, bank, or government-related institution to raise money by issuing debt securities (notes) from time to time, instead of borrowing the entire amount at once.

Suppose a company sets up a ₹10,000 crore MTN Programme. It does not necessarily borrow ₹10,000 crore immediately. Instead, it can issue notes in different amounts and at different times, depending on its funding needs.

0 Comments

*Enter your name

*Email not valid.

*2 characters minimum.

Notify me of follow-up comments by email.

Notify me of new posts by email.

Do not change these fields following