more-inThe Tamil Nadu Generation and Distribution Corporation (Tangedco) will issue bonds worth ₹7,605 crore under the Ujwal DISCOM Assurance Yojana (UDAY) Scheme. At the time of joining the scheme, Tangedco had a debt of ₹30,420 crore. The State government had raised ₹22,815 crore last year (75% of the debt) and transferred it to Tangedco. Tangedco is now planning to float bonds for ₹7,605 crore on a private placement basis, which is the remaining 25% of loans to be paid under the UDAY scheme. Tangedco has now called for bids from credit rating agencies for issuing ratings on the bonds which are guaranteed by the government of Tamil Nadu.

Source: The Hindu January 24, 2018 19:30 UTC