India’s biggest telco, Bharti Airtel, is looking to raise US$400m by offering a new bond in the next three to four weeks.
The operator will issue the notes overseas, according to Indian newswire PTI which cited a merchant banker associated with the…
India’s biggest telco, Bharti Airtel, is looking to raise US$400m by offering a new bond in the next three to four weeks.
The operator will issue the notes overseas, according to Indian newswire PTI which cited a merchant banker associated with the transaction.
The sale would be part of a wider plan to tender a total of US$2bn in bonds before the end of March 2015, which was reported last week, as it looks improve its debt profile.
Bharti has declined to comment on specific issuances but said it “keeps evaluating opportunities, on an ongoing basis to refinance the debt portfolio at efficient cost and maturity”.
The operator last visited the debt market in March when it raised about US$400m in a Swiss franc-denominated bond, the biggest ever by an Asian telco. Proceeds went towards refinancing its debt, which stood at US$9.3bn as of 31 December 2013.
Late last year, the company also launched its first ever eurobond, raising €750m. The issue was later upsized by €250m to €1bn.
