80% of borrowings in Q1 are through long-tenure bonds
The Hindu
They can be repaid over longer time
Long-tenure bonds with a maturity profile of 20-35 years accounted for about ₹19,200 crore, or 80%, of Tamil Nadu’s total borrowings of ₹24,000 crore in the first quarter of fiscal 2021-22. On Tuesday, the State raised ₹2,000 crore through bonds known as State development loans. It reissued bonds of ₹1,000 each, of a tenure of 30-35 years, with yields of 7.23%.
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