United Bank of India to raise over Rs 200 cr from debentures

State-owned United Bank of India on Friday said it plans to raise Rs 200 crore plus green shoe option from debentures on private placement basis.

The bank is proposing to issue unsecured, subordinated, non-convertible, redeemable, Basel-III compliant instrument in the nature of debentures for inclusion in tier 2 capital aggregating Rs 200 crore plus green shoe option on private placement basis, United Bank of India said in a regulatory filing.