Keralam’s Kochi Corporation to invite EoI for consultants to tap into ₹500-crore bond market
We have been in consultations with regulatory bodies such as SEBI as a prelude to the process. Initially, we are exploring the prospects of issuing municipal bonds worth ₹150 crore to finance development and infrastructure projects, along with green bonds worth another ₹150 crore to support environment-friendly and climate change mitigation initiatives, says Mayor
The Kochi Corporation plans to invite Expressions of Interest (EoIs) from consultants later this month to help issue municipal bonds for major development projects. Discussions with multiple agencies with expertise in handling municipal bonds have been held, with the aim of assessing challenges and benefits in the Kochi context.
The Corporation is eligible to issue bonds worth ₹500 crore, starting with ₹150 crore for development and infrastructure projects and another ₹150 crore for green and climate change initiatives. Mayor V.K. Minimol announced that the proposal will be included in the agenda for approval in the next council meeting. The Corporation is also taking steps to boost its credit rating, including streamlining its asset register and maximizing revenue.
Former Mayor and co-chairperson of the Kerala Urban Policy Commission, M. Anilkumar, emphasized the importance of a dedicated team and financial discipline in the bond issuance process.
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