India City Plans Nation’s First Retail Muni Bond for Solar Plant
- Indore seeks up to 2.6 billion rupees via 10-year offering
- Bond proceeds will be used to fund solar power plant
This article is for subscribers only.
An Indian city with a strong environmental record is planning to issue the nation’s first local government bond targeting individual investors, with proceeds used to fund a solar power project.
Indore Municipal Corp. seeks to raise as much as 2.6 billion rupees ($31.8 million) via a 10-year bond sale next month, according to Divyank Singh, chief executive officer of Indore Smart City, who is working with various stakeholders to finalize the offering.