 "Bonds, Masala Bonds")
Pune Municipal Corporation is all set to become the first issuer of municipal bonds under the government’s Smart Cities Mission. But even before the first of its kind instrument hits the market, the product has already become a hotly contested one among advisors and merchant bankers.
According to sources, Pune would likely invite bids for Rs 200 crore worth of bond issuance by June 27, while a few others should start issuing such bonds in the next two-three months, upon getting clearances from various authorities.
Four municipal bodies with high credit ratings are in advanced stages of issuing the bonds.
