From April 2019, several companies, perhaps all large listed ones, are going to hit the Bond Street for their borrowing needs armed with freedom to price and structure their debt instruments; instead of queuing up at the banks with begging bowls for loans delays, which at times have proved fatal causing failure for certain honest entrepreneurs. At the same time, investors too will have a choice—whether to buy high grade bonds of Reliance Jio offering coupon similar to Government of India’s sovereign paper or invest in high-yield bonds of lesser-known companies. There will be a variety of instruments like zero-coupon, deep-discount and mortgage-backed all at market-determined rates. There is scope for innovation in structuring bond instruments and indices for benchmarking the same.