Bharti Airtel kicks off USD 3 billion debt, equity offerings

Nieuws Mobiel India 9 JAN 2020
Bharti Airtel kicks off USD 3 billion debt, equity offerings

Indian operator Bharti Airtel has kicked off its issue of up to USD 3 billion in shares and convertibles, after receiving approval from shareholders last week. The company set a minimum price of INR 452.09 per share, a small discount on its latest trading price, and expects to raise up to USD 2 billion from the share offering. 

The will be the same share price for the conversion of the USD 1 billion in convertible bonds planned in the offering. The debt has been assigned a BBB- rating by Fitch. 

Airtel plans to use the proceeds from the issue to pay outstanding regulatory fees. 

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India

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