Funds raised through the bonds will be utilized to meet funding requirement of Strategic Road Development Plan. : Greater Hyderabad Municipal Corporation (GHMC) has raised Rs 1.95 billion through municipal bonds for financing road development projects in city. These 10-year bonds were placed with investors, including finance companies, banks and pension funds, at a coupon rate of 9.38 per cent. They carry “AA” rating from CARE and India Ratings. SBI Capital Market (SBI Caps), arranger for transaction, said in a statement GHMC received bids of Rs 2.5 billion, which was 2.5 times the base issue size of Rs 1 billion.