Bharti Airtel raises more than Rs.2,400 crore from bond sale

Telecom service provider Bharti Airtel has raised 350 million Swiss francs (Rs.2,453.2 crore) through issue of bonds in the Swiss market, a company statement said here Thursday.

"Wholly-owned subsidiary Bharti Airtel International (Netherlands) B.V. has successfully priced CHF 350 million 3 percent Guaranteed Senior Notes due March 31, 2020. The notes will be fully and unconditionally guaranteed by Bharti Airtel. Bharti will apply the net proceeds to refinance its existing debt," the statement said.

"These issuances continue to diversify our funding sources, currencies and investor base, besides being priced at very attractive levels. Bharti's credit continues to receive interest from diverse and high quality investors, underlining the strength of our business," said Bharti Airtel's group treasurer Harjeet Kohli.

The company said BNP, Deutsche Bank and UBS were the joint lead managers on the offering.