Union Bank of India to redeem ₹1,000 crore bonds

Union Bank of India has announced the exercise of a call option on its ISIN INE692A08128 bonds, as detailed in an intimation dated December 24, 2025. This decision, following a previous intimation on December 5, 2025, is subject to regulatory approval and pertains to the redemption of the bond series XXVIII.

The bank will redeem bonds with ISIN INE692A08128, which carry an issue size of ₹1,000 crore and a coupon rate of 8.64%. The revised date for redemption payment is January 9, 2026, with the record date set for December 26, 2025. This adjustment was made to account for the original payment date of January 11, 2026, falling on a non-business day, aligning with the bank's policy of making payments on the preceding business day.

This strategic move is communicated in compliance with Regulations 30 and 60(2) of the SEBI (Listing Obligation and Disclosures Requirements) Regulations 2015. Mangesh Mandrekar, company secretary, has officially signed the intimation, which has also been forwarded to IDBI Trusteeship Services Ltd.