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Kolkata: Marquee investors and bond funds including Pacific Investment Management (Pimco), Goldman Sachs Asset Management, Fidelity, BlackRock, TIAA, Loomis Sayles, Nan Shan Life, Ashmore Investment and Amundi Asset Management are believed to have participated in
Bharti Airtel’s $1.25-billion overseas fundraise through a mix of senior and perpetual bonds.
“Proceeds will be used for capex, repayment of existing indebtedness, and/or any other purpose in compliance with end-use guidelines set forth in FEMA ECB regulations and all other applicable laws and regulations,” Airtel said in an exchange filing on Thursday.
The Sunil Mittal-led telco said it priced $750 million worth of senior 10.25-year bonds at a yield of 187.5 basis points for an implied coupon of 3.250%. Network i2i, Airtel’s wholly owned Mauritius arm, in turn, priced $500 million of guaranteed subordinated perpetual 5.25-year bonds at a coupon of 3.975%.
airtel | goldman sachs: PIMCO, Goldman Sachs, Fidelity, BlackRock subscribe to Airtel s overseas bonds
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Financials to be big beneficiary of economic revival: Ashwini Agarwal
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Last Updated: Feb 23, 2021, 05:36 PM IST
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The co-founder of Ashmore Investment says markets are not in any danger. He also says shift to domestic economy linked stocks is not over yet.
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A compulsive bull like you would always try to call it a minor adjustment but looking at what is happening to crude and how metal prices have gone higher and how bond yields have sold off in the US, are we in a spot of bother now?
I do not think so. We may see a correction in the broad market simply because we have had such a strong run without any meaningful correction all the way from May 2020 till now. It is possible that the correction continues purely because it needs a breather. I am not worried that the rising oil price or rising metal prices can play a significant spoilsport to the earnings forecast that we see going ahead. First of all, just to put it in perspective, oil is