Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Union Bank of India Said to Hire Banks to Arrange 3-Year Loans

Don't Miss Out —
Follow us on:

Aug. 10 (Bloomberg) -- Union Bank of India, a state-owned lender based in Mumbai, hired five banks to arrange $150 million of three-year loans, a person familiar with the matter said.

Bank of America Corp., BNP Paribas, Mizuho Financial Group Inc., Standard Chartered Plc and Bank of Tokyo-Mitsubishi UFJ Ltd. are arranging the loans, which have been put out to general syndication, said the person, who asked not to be identified because the details are private.

The loans will pay interest of 117 basis points more than the London interbank offered rate, or Libor, the person said. A basis point is 0.01 percentage point.

Lenders that pledge $15 million or more will receive an all-in payment of 150 basis points over Libor, commitments of $10 million to $15 million will get 145 basis points more than Libor and banks that lend $5 million to $10 million will get 140 basis points over Libor, the person said.

To contact the reporter on this story: Shelley Smith in Hong Kong at ssmith118@bloomberg.net

To contact the editor responsible for this story: Will McSheehy at wmcsheehy@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.