Tamil Nadu’s borrowing cost rises marginally
The Hindu
The weighted average cost of borrowing for State governments across States and tenures was 6.86%, 12 basis points higher than last week, the ratings firm CARE Ratings said
Tamil Nadu’s borrowing cost went up marginally by 4-6 basis points in this week’s bond auction, when compared to last week. On Tuesday, the State raised ₹3,000 crore through the issue of long tenure bonds of 30 years and 25 years respectively with an interest of 7.03% each. In the previous week, it had raised ₹3,000 crore through the issue of bonds with tenures of 20 and 25 years with interests of 6.99% and 6.97% respectively, according to data from the Reserve Bank of India.
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