Bharti Airtel raises $1.25 bn through overseas bonds
The fundraising will further support Airtel’s capital structure, says a company official.
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Airtel‘s subsidiary, Network i2i, priced perpetual bonds at a coupon of 3.975%
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NEW DELHI :
Bharti Airtel Ltd has raised $1.25 billion overseas by selling senior bonds and perpetual bonds, in the largest fundraising by any Indian investment grade issuer since January 2019, it said on Thursday.
Bharti Airtel priced the senior 10.25-year bonds of $750 million at a yield of 187.5 basis points (bps) for an implied coupon of 3.25%, while its wholly-owned subsidiary Network i2i Ltd priced $500 million worth guaranteed subordinated perpetual 5.25-year bonds at a coupon of 3.975%.