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Bharti Telecom raises ₹11,150 crore via bonds
Business Standard|November 05, 2024
Company to use the proceeds for investing
- SUBRATA PANDA

Bharti Telecom, the holding company of Bharti Airtel, on Monday raised ₹11,150 crore in six tranches, with coupon rates ranging from 8.25-8.90 per cent and tenors from 3-10 years.

According to the term sheet, the company secured ₹2,000 crore at 8.65 per cent, with a tenor of three years; ₹1,650 crore at 8.75 per cent, with a tenor of four years; ₹2,500 crore at 8.75 per cent, with a tenor of five years; ₹1,500 crore at 8.90 per cent, with a tenor of seven years; ₹1,500 crore at 8.90 per cent, with a tenor of 10 years; and ₹2,000 crore at 8.25 per cent, with a tenor of three years and 10 days.

Of the ₹11,150 crore issuance, ₹3,345 crore was subscribed by anchor investors, and ₹7,805 crore was the non-anchor portion.

Barclays and Standard Chartered Bank were the arrangers for the bond issue.

Bharti Telecom will use the proceeds for investing and paying transaction-related costs in connection with such investments.

This story is from the November 05, 2024 edition of Business Standard.

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This story is from the November 05, 2024 edition of Business Standard.

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