After the successful listing of bonds by the Indore Municipal Corporation, the Bhopal Municipal Corporation’s (BMC) municipal bonds were listed on the debt platform of the NSE. BMC raised nearly Rs 1.75 billion on the closing day of the issue (September 25, 2018), which was oversubscribed by 1.06 times. The Bhopal municipal bonds (with a maturity period of 10 years) were issued at a coupon rate 9.55 per cent payable semi-annually with a put-call option at the end of the seventh year. The bonds will be redeemable in four equal instalments starting from the seventh year in case the put-call option is not exercised. The funds raised will be used for the implementation of projects under the government’s Atal Mission for Rejuvenation and Urban Transformation.
COPYRIGHT © 2016 | INDIAN INFRASTRUCTURE