Indian giant Bharti Airtel is considering issuing fresh equity shares or diluting its holding in Bharti Infratel as it seeks to find alternatives to purely debt-based funding for its proposed acquisition of the African operations of Zain.
All in all, the…
Indian giant Bharti Airtel is considering issuing fresh equity shares or diluting its holding in Bharti Infratel as it seeks to find alternatives to purely debt-based funding for its proposed acquisition of the African operations of Zain.
All in all, the deal will cost Bharti US$10.7bn and the firm will tap the debt market for around US$9bn.
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.