Union Bank of India Raises $500 Million from Foreign Markets to increase Overseas Business Growth

State-owned Union Bank of India announced on Wednesday that it has secured $500 million (approximately Rs 4,200 crore) from foreign markets to support its expansion into international business. The funding was facilitated by the Dubai International Financial Centre (DIFC), Dubai Branch, according to a regulatory filing made by Union Bank of India.
The bank has obtained a syndicated term loan of $500 million, which will be drawn in two installments. The loan consists of $400 million and a Green Shoe option of $100 million. The tenure of the loan is divided into two periods, with the first having a duration of 3 years and the second lasting for 5 years.
Union Bank of India has already drawn the first tranche of $100 million on Wednesday, marking its inaugural syndicated term loan raised through an overseas center. This move demonstrates the bank’s commitment to strengthening its presence in international markets.
Job done
Hamko sahi laga Union Bank