Bharti Airtel may increase the size of the US dollar portion of its debt package in its quest to acquire Zain’s Africa assets for US$10.7bn.
The firm is now looking to raise US$8.5bn, up from US$7bn. It is also raising US$2.2bn via a six-year onshore…
Bharti Airtel may increase the size of the US dollar portion of its debt package in its quest to acquire Zain’s Africa assets for US$10.7bn.
The firm is now looking to raise US$8.5bn, up from US$7bn. It is also raising US$2.2bn via a six-year onshore rupee loan.
Standard Chartered and Barclays Capital are advising Bharti on the deal and they 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.
Standard Chartered Bank, Barclays Capital, Citibank and State Bank of India are currently leading syndication.
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.
If the US dollar portion of the facility is secured, it would be the biggest dollar denominated loan in Asia (except Japan) over the last year.
