UCO Bank to raise up to Rs 1,000 cr by issuing bonds

New Delhi, Dec 28 (PTI) State-owned UCO Bank on Wednesday said it is planning to raise up to Rs 1,000 crore by issuing debt securities.

The bank’s board will consider the proposal for raising tier I capital in the form of additional tier I bonds in one or more tranches aggregating to Rs 1,000 crore, UCO Bank said in a regulatory filing.

The board is scheduled to meet on January 3, 2023 to take up the fund raise proposal.

UCO Bank stock closed at Rs 31.45 on BSE, down 2.93 per cent.