Vodafone India, the country’s third largest mobile operator, is looking to raise Rs3bn (US$57m) via a one-year commercial paper, according to a Reuters report citing a source close to the matter.
A Vodafone India spokesman declined to comment on…
Vodafone India, the country’s third largest mobile operator, is looking to raise Rs3bn (US$57m) via a one-year commercial paper, according to a Reuters report citing a source close to the matter.
A Vodafone India spokesman declined to comment on the matter.
The commercial paper is expected to yield 10.4% on maturity. Standard Chartered has reportedly been appointed as sole arranger of the deal.
Parent company Vodafone is currently entangled in a US$2.4bn tax dispute with the Indian government over the purchase of a 67% stake in Hutchison Essar (now known as Vodafone India) in 2007.
