Union Bank of India trades with traction on BSE

Union Bank Of India | Bank - Public | BFSI | BSE: 532477 | NSE: UNIONBANK

25 Apr 2013 Evaluate

Union Bank of India is currently trading at Rs. 243.25, up by 5.80 points or 2.44% from its previous closing of Rs. 237.45 on the BSE.

The scrip opened at Rs. 240.50 and has touched a high and low of Rs. 245.55 and Rs. 237.80 respectively. So far 78618 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 288.00 on 02-Jan-2013 and a 52 week low of Rs. 150.10 on 30-Aug-2012.

Last one week high and low of the scrip stood at Rs. 245.55 and Rs. 226.65 respectively. The current market cap of the company is Rs. 14558.79 crore.

The promoters holding in the company stood at 57.89% while Institutions and Non-Institutions held 28.64% and 13.47% respectively.

Union Bank of India (UBI) will be utilizing $350 million, raised via bond sale for funding its ongoing lending activities at international branches. The public sector lender raised $350 million through unsecured notes due in 2018 through its Hong Kong branch.

The Bonds received strong support from investors with 4.3 times over subscription and 136 accounts in Asia and Europe participating in the transaction. This was the fourth international bond offering from the bank in as many years.

The notes were priced at 300 basis points over the 5-year US Treasury Note, at a price of 99.679% to yield 3.690 %. The US dollars denominated Notes, will bear fixed interest of 3.625% per annum, with interest payable semi-annually in arrears.