Moneycontrol Be a Pro
Get App
Last Updated : Oct 09, 2019 06:53 PM IST | Source: PTI

Bharti Airtel raises $750 million from overseas investors

The proceeds shall be used for refinancing, investments in subsidiaries and general corporate purpose.


Telecom operator Bharti Airtel on October 9 said it has raised $750 million (about Rs 5,330 crore) from investors based in Asia, Europe and the US through a hybrid financial instrument.

Bharti Airtel said in a statement that "its wholly-owned subsidiary Network i2i Limited, has priced ... offering of $750 million 5.650 percent subordinated perpetual securities."

The proceeds shall be used for refinancing, investments in subsidiaries and general corporate purpose.

Close

Bharti Airtel's Treasury Head Ashish Sardana said in the backdrop of the current global economic environment, the strong response for its inaugural hybrid securities offering from high quality investors across Asia, Europe and the US underlines the future growth potential of its business.

"The securities have been distributed to fund/asset managers, insurance companies etc," a banker closely involved in the transaction told PTI.

Barclays Bank PLC, BNP Paribas, Citigroup Global Markets Limited, HSBC, JP Morgan Securities, Merrill Lynch (Singapore) Pte Ltd and Standard Chartered Bank acted as joint bookrunners for the offering.

The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Oct 9, 2019 05:56 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant