India’s Union Bank hires banks for bond sale

Lender’s selection of 4 banks to offer dollar bonds part of its $2bln medium-term notes programme.

State-run Union Bank of India has hired four banks to manage a planned dollar bond sale, two sources close to the deal said on Wednesday.

The lender has picked Citigroup, Barclays Capital, Standard Chartered Bank and Deutsche Bank to also help arrange a series of meetings with investors in Singapore, Hong Kong and London from April 8 to 12 ahead of the planned sale, the sources said.

Standard & Poor's has rated Union Bank's planned debt issue BBB-minus.

View the full story in Reuters.