Bharti Airtel to raise up to USD 3 bln through equity, debt issues

News General India 4 DEC 2019
Bharti Airtel to raise up to USD 3 bln through equity, debt issues

Indian operator Bharti Airtel has approved raising up to USD 3 billion in new capital through the issue of new shares or debt. The board approved the sale of up to USD 2 billion in equity and up to USD 1 billion in debt. 

The equity offering may take the form of a public or private placement of shares, convertible debt or warrants or depositary receipts. The debt may be up to USD 1 billion in convertible bonds or USD 1 billion in secured or unsecured debt, private or publicly traded, or a combination of the two not exceeding USD 1 billion. 

Airtel announced a week ago that it was looking at fresh funds, after the company received a downgrade in its credit rating. 

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