Cellco Bharti Airtel is looking to raise up to US$1bn in ten-year global bonds to refinance parts of the debt incurred from the acquisition Kuwait-based Zain’s African business, according to reports.
Joint bookrunners are reportedly Barclays Capital,…
Cellco Bharti Airtel is looking to raise up to US$1bn in ten-year global bonds to refinance parts of the debt incurred from the acquisition Kuwait-based Zain’s African business, according to reports.
Joint bookrunners are reportedly Barclays Capital, Deutsche Bank, HSBC, Standard Chartered, UBS, while BNP Paribas and Credit Agricole are joint leads.
In September 2010, Bharti Airtel launched a 4.4-year US$7.5bn multi-tranche loan to back its US$10.7bn acquisition of Zain Africa in June 2010. Bharti has already prepaid US$895m of this financing.
Meanwhile, Standard Chartered has launched into syndication a US$1.5bn 18-month bridge loan for Bharti. The facility is also expected to help refinance the Zain Africa debt.
