 "Bharti Airtel raises $750 mn from investors based in Asia, Europe and US")
Bharti Airtel on Wednesday said it has raised $750 million (about Rs 5,330 crore) from investors based in Asia, Europe and the US through a hybrid financial instrument.
Bharti Airtel said in a statement that "its wholly-owned subsidiary Network i2i Limited, has priced ... offering of $750 million 5.650 per cent subordinated perpetual securities." The proceeds shall be used for refinancing, investments in subsidiaries and general corporate purpose.
Bharti Airtel's Treasury Head Ashish Sardana said in the backdrop of the current global economic environment, the strong response for its inaugural hybrid securities offering from high quality investors across Asia, Europe and the US underlines the future growth potential of its business.
"The securities have been distributed to fund/asset managers, insurance companies etc," a banker closely involved in the transaction said.
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.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%