Union Bank of India has received a ‘BBB’ long-term issue rating from S&P Global Ratings for its U.S. dollar-denominated senior unsecured notes. The rating applies to two tranches: US$300,000,000 notes due 2029 with a 5.230% coupon and US$300,000,000 notes due 2031 with a 5.417% coupon. This rating reflects the bank’s financial standing and its ability to meet debt obligations.
S&P Global Ratings Assigns ‘BBB’ Rating to Union Bank of India’s Notes
Union Bank of India announced on August 27, 2026, that S&P Global Ratings has assigned a ‘BBB’ long-term issue rating to its U.S. dollar-denominated senior unsecured notes. This rating is a critical indicator of the bank’s creditworthiness and its ability to service its debt obligations.
Details of the Rated Notes
The rating specifically covers two series of notes issued by the Dubai International Financial Centre branch of Union Bank of India:
- Series 1: ISIN XS3485474533, with a tenor of 3 Years and a coupon rate of 5.230%. The rating assigned is ‘BBB’.
- Series 2: ISIN XS3485474707, with a tenor of 5 Years and a coupon rate of 5.417%. The rating assigned is also ‘BBB’.
The detailed rationale behind this rating assignment has been provided separately by S&P Global Ratings. This development is a significant event for the bank’s international funding strategies and investor confidence.
Source: BSE
