Lucknow Municipal Bonds

  • On 2nd December, 2020, the municipal bonds issued by the Lucknow Municipal Corporation got listed on the Bombay Stock Exchange (BSE).
  • With this, Lucknow became the 9th city in the country and first city from Uttar Pradesh to have raised municipal bonds, which have been incentivized by the Ministry of Housing and Urban Affairs, under the mission AMRUT (Atal Mission for Rejuvenation and Urban Transformation).
  • This bond got rated ‘AA’ by India Ratings and ‘AA (CE)’ by Brickwork Ratings.
  • The tenure of bond is 10 years and it is structured as a ‘strip’ bond with 7 STRRPs (A to G) and principal repayment ....
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