Finance1 min read

Patna Civic Body Raises Rs 200 Crore Via Bonds, Gets Listed On Stock Exchange

By · Published by Everything Blog

In short

The Patna civic body secured Rs 200 crore in fresh capital by floating municipal bonds to market investors. Following the successful fundraise, the debt instruments formally debuted on the stock exchange. The issued bonds carry an annual interest rate of 9.20 per cent across a 10-year repayment tenure.

Key points

  • Patna's municipal authority has officially listed its debt securities on the stock exchan…: Patna's municipal authority has officially listed its debt securities on the stock exchange.
  • Investors holding the newly issued municipal bonds will receive an annual interest yield…: Investors holding the newly issued municipal bonds will receive an annual interest yield of 9.20 per cent.
  • The bond issuance locks in Rs 200 crore worth of funding for the civic body for a decade.: The bond issuance locks in Rs 200 crore worth of funding for the civic body for a decade.

The bonds carry an annual interest rate of 9.20 per cent and have a tenure of 10 years.

Finance