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Bharti Airtel Raises $750 Million From Overseas Investors

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

“Wholly-owned subsidiary Network i2i Limited has priced offering of $750 million 5.650 percent subordinated perpetual securities,” Bharti Airtel said in a statement.

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

The strong response for Bharti Airtel inaugural hybrid securities offering from high-quality investors across Asia, Europe and the U.S. underlines the future growth potential of its business, said its Treasury Head Ashish Sardana.

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.―Bloomberg Quint

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