Union Bank of India raised $600 million through a public sale of U.S. dollar bonds via its Dubai branch, its first such issuance in over 12 years, comprising $300 million of three-year paper at 5.23% and $300 million of five-year paper at 5.4170%, priced at 93 bps and 102 bps above U.S. Treasuries versus initial guidance of 120 bps and 130 bps.

Union Bank of India is seeking to raise at least $500 million each through three-year and five-year dollar bonds via GIFT City, with merchant bankers citing initial price guidance of 120 basis points over U.S. Treasuries for the three-year notes and 130 basis points for the five-year notes amid a sector-wide rush following the Reserve Bank of India's early closure of its discounted forex swap facility.

Union Bank of India was named among the large-cap banking and financial services stocks where mutual funds increased holdings in July 2026, according to Value Research data on active mutual fund portfolios.

Union Bank of India is planning to tap the overseas dollar bond market to take advantage of the Reserve Bank of India's concessional swap window, as part of a broader wave of Indian bank dollar issuances.

Union Bank of India offered a Rs762 crore pool of bad loans for sale in the June quarter, with industry data showing the entire pool comprised repeat sale attempts.