Union Bank of India commenced accepting bids to generate up to Rs1,150cr by issuing Basel III-compliant bonds. The lender is issuing Basel Ill Compliant Debt instruments in the nature of Debentures eligible for inclusion in Tier-2 Capital (Bonds) Series XXXl, at a face value Rs1cr per bond, of Rs500cr with Green Shoe Option up to Rs650cr (maximum Rs1,150cr) on Private Placement basis.