Brihanmumbai Municipal Corp Plans $992 Million Bond Sale in 1st Local-Currency Market Foray
Updated
Updated · Bloomberg · May 27
Brihanmumbai Municipal Corp Plans $992 Million Bond Sale in 1st Local-Currency Market Foray
4 articles · Updated · Bloomberg · May 27
95 billion rupees ($992 million) is the amount Brihanmumbai Municipal Corp aims to raise through municipal bonds, with the sale planned in one or more tranches.
June 15 is the deadline the civic body set for prospective arrangers to submit proposals, according to a tender posted on the Maharashtra government website.
BMC is India’s richest civic authority, making the planned issuance a notable test of local-currency municipal debt financing.
Mumbai, the corporation’s jurisdiction, is Maharashtra’s capital and is positioning itself as a major global financial center.
Can Mumbai's record bond sale succeed while similar emerging market debt struggles globally?
With billions in new debt for Mumbai's renewal, can the city escape its history of unfulfilled development plans?