Informist, Tuesday, Mar 22, 2022
By Sanjana Raina
NEW DELHI – Vadodara Municipal Corp is set to tap the debt market with what will be the first municipal bond offering for the current financial year, a five-year paper to raise 1 bln rupees, market sources told Informist today.
According to merchant bankers, the company has invited bids on Thursday. The bidding will take place on BSE’s bidding platform from 1100 IST to 1200 IST.
The municipal bonds, which will be allotted on Monday, are rated ‘AA+’ by India Ratings, and ‘AA’ by CRISIL.
The last municipal bond issue was in March 2021 by the Ghaziabad Municipal Corp. The civic body had set 8.10% semi-annual coupon on bonds maturing in 10 years, and accepted bids worth 1.5 bln rupees. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Shirsha Thakur
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Source: Cogencis
