Bharti Airtel is reportedly in talks with banks over a US$7bn offshore loan to finance its acquisition of Zain Africa.
The Indian operator is looking to raise US$9bn for the US$10.7bn deal, which includes the assumption of US$1.7bn of debt.
According to…
Bharti Airtel is reportedly in talks with banks over a US$7bn offshore loan to finance its acquisition of Zain Africa.
The Indian operator is looking to raise US$9bn for the US$10.7bn deal, which includes the assumption of US$1.7bn of debt.
According to Reuters, Bharti will look to tap the Indian market for a further US$2bn loan. Standard Chartered and Barclays Capital are advising Bharti on the deal and are eager to have the funding lined up soon with exclusive talks open until March 25.
The loan could pay an all-in of less than 300bp.
ANZ Bak, Bank of Tokyo-Mitsubishi, Citigroup, DBS, BNP Paribas and State Bank of India were all willing to lend to Bharti’s proposed bid for MTN last year and are therefore likely to be involved this time around.
