Union Bank of India mulls issuing Swiss franc bond

The move has not been seen from any Indian lender since 1987.

Union Bank of India is planning a 200 million to 300 million Swiss franc ($203 million-$305 million) bond issue, IFR reported on Tuesday.

The borrowing in Swiss francs would be the first by an Indian issuer since 1987, IFR reported, and follows plans unveiled last week by State Bank of India to launch a benchmark-sized five-year euro bond issue, according to a Reuters report.

The offer is likely to have a tenor of three to five years, and investor roadshows beginning on Nov. 18, IFR reported.