(Reuters) - Toronto’s chief financial officer said the city plans to double its borrowing in 2014 from this year, Bloomberg reported.
The city plans to issue C$600 million ($570.8 million) bonds in 2014 with half of the issuance in first half of the year, according to the report.
There is a strong demand for municipal bonds, Rob Rossini, city’s chief financial officer, said in an interview to Bloomberg.
Toronto, in particular, also sees a substantial demand for its bonds, Rossini said.
The city council could not immediately be reached for comment by Reuters outside of regular U.S. business hours.
Reporting by Kanika Sikka in Bangalore; Editing by Anand Basu