Union Bank of India has approved the raising of foreign currency funds amounting to USD 2.00 Billion through a Medium Term Note Programme. This will be executed in tranches via the issuance of debt instruments from the bank’s Dubai and/or Sydney branches. The Board of Directors considered and approved this significant financial move during their meeting on July 30, 2026, enhancing the bank’s capital base.
Board Approves Significant Debt Issuance
Union Bank of India’s Board of Directors, in a meeting held on July 30, 2026, has approved a major initiative to raise foreign currency funds. The bank plans to raise up to USD 2.00 Billion through a Medium Term Note Programme. This program will facilitate the issuance of debt instruments in tranches, utilizing the bank’s international branches in Dubai and/or Sydney.
Details of the Fundraising
The approval signifies a strategic move by the bank to bolster its capital structure and access international debt markets. The meeting, which commenced at 03.45 P.M. and concluded at 05.25 P.M. on July 30, 2026, formally sanctioned this debt fundraising effort. This action is in line with the bank’s ongoing financial strategies to support its growth and operations.
Source: BSE
