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Airtel likely to raise up to ₹5,000 crore via rupee bonds

India’s second-largest telco, Bharti Airtel, will likely raise up to ₹5,000 crore soon through rupee-denominated bonds from the local market as the telco looks to refinance high-cost debt and consolidate its balance sheet ahead of the 5G spectrum auction.

This will be part of the ₹7,500 crore fundraising plan announced by the company earlier this month. The telco is, also, evaluating two other options – an offshore bond issue and a rupee loan from banks in the local market, said people familiar with the matter.

“The rupee-linked corporate bonds with multiple maturities may come with multiple tenors in range of three to 10 years,” said a senior executive involved in local bond sales. A 10-year paper may be priced at 8-8.25%, the executive said.

One of the people said a possible dollar-bond floatation in offshore markets could only be in the latter part of the April-June quarter. The geopolitical uncertainties have sent global benchmark gauges higher, making such borrowings costlier. UR ALL NEWS

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