India’s leading mobile operator Bharti Airtel has secured an Rs88bn (US$1.84bn) syndicated loan to finance the 3G spectrum that must be paid for by May 31.
State Bank of India and IDFC Securities are the MLA’s on the six-year loan, which will fund the…
India’s leading mobile operator Bharti Airtel has secured an Rs88bn (US$1.84bn) syndicated loan to finance the 3G spectrum that must be paid for by May 31.
State Bank of India and IDFC Securities are the MLA’s on the six-year loan, which will fund the spectrum itself and the supplementary network equipment.
Housing Development Finance Corp and HDFC Bank are also lending to the facility.
Bharti obtained 3G spectrum licences in 13 of India’s 22 operating circles in the auction which concluded earlier this month.
In March, Bharti secured close to US$9bn of bank debt to finance its acquisition of Zain’s African portfolio.
