GHMC to raise Rs 2,500 via rupee term loan; SBICAP is arranger

The Greater Hyderabad Municipal Corporation is in the process of raising Rs 2,500 crore through rupee term loan for various projects to be implemented under the strategic road development programme. SBI Capital Markets (SBICAP) was appointed as the arranger to raise the funds, an official press release said.

The civic body is already in the process of raising Rs 1,000 crore through bonds, of which it had already raised Rs 395 crore, the release said. The SBICAP would be paid Rs 0.10 per cent of the amount raised as fee for raising the amount through bidding, it added..