Union Bank of India has issued a regulatory disclosure to the BSE Listing Centre and the National Stock Exchange of India Ltd., intimating them of its exercise of a call option for the early redemption of two series of Basel III compliant Tier-1 bonds. The disclosure is made pursuant to Regulation 30 and 60(2) of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.
The details of the bonds to be redeemed are as follows:
Series XXXII:
- Bond Series: Basel III compliant Tier-1 Series XXXII
- ISIN Number: INE692A08169
- Issue Size: ₹2000 Crores
- Coupon Rate: 8.70%
- Call Option Due Date (Last Coupon Payment Date): 22-Nov-2026
- Date of Redemption Payment: 21-Nov-2026*
- Record Date: 07-Nov-2026
Series XXXIII:
- Bond Series: Basel III compliant Tier-1 Series XXXIII
- ISIN Number: INE692A08177
- Issue Size: ₹1500 Crores
- Coupon Rate: 8.40%
- Call Option Due Date (Last Coupon Payment Date): 20-Dec-2026
- Date of Redemption Payment: 19-Dec-2026*
- Record Date: 05-Dec-2026
*The disclosure notes that as per the Information Memorandum, if the Call Option Due Date falls on a non-Business Day, the redemption payment will be made on the immediately preceding Business Day. Accrued interest will be paid until but excluding that payment date.
The letter was digitally signed by Ashish Mishra, Company Secretary of Union Bank of India. A copy of the intimation has been sent to the bond trustee, M/s IDBI Trusteeship Services Ltd.