The bond was listed on NSE International Exchange, or NSE IX, at GIFT City in Gandhinagar, Gujarat. A bell-ringing event marked the listing. The financial zone gives Indian lenders a platform to reach international investors.

Managing Director and CEO Asheesh Pandey described the response as evidence of overseas investors’ confidence in Union Bank. He said investors had closely examined its financial position, loan quality and capital strength before committing money. He also linked the transaction to the bank’s effort to strengthen its international profile.

Dollar borrowing adds another source of funds alongside domestic deposits and local borrowing. Union Bank intends to use the proceeds to support lending across infrastructure, manufacturing and logistics, as well as small businesses and renewable energy projects. The broader aim is to diversify funding and support liquidity management and business growth.

Pandey also indicated that the bank intends to expand its GIFT City activities over the coming months and build closer links with international markets. The supplied report does not state the amount raised, the bond’s interest rate or its repayment period, so the cost and terms of this funding remain unclear.