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Bharti Airtel's equity issuance to aid deleveraging, fund 5G capex: Fitch

Bharti will raise equity in three tranches, a quarter of the proceeds to be received upfront and the balance in two instalments within three years

Between 2012 and 2017, Bharti Airtel bought BWA spectrum from Qualcomm, Aircel and Tikona Digital who were the second players in different circles.

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Fitch has forecast that Bharti's capex will increase to about $5 billion in FY22 (FY21: $4.6 billion), of which $1.5 billion is likely to be paid upfront to acquire 5G spectrum assets

BS Reporter Mumbai

2 min read Last Updated : Sep 01 2021 | 10:57 AM IST

Bharti Airtel Ltd' planned $ 2.8 billion equity issuance will improve its net leverage to around 2.0x (end-March 2021: 2.1x) and provide funds to strengthen its market position, according to Fitch Ratings.

Bharti will raise equity in three tranches, a quarter of the proceeds to be received upfront and the balance in two instalments within three years.

Bharti's management remains committed to an investment-grade rating. The company raised about $9 billion in FY20 and FY21 via equity issuance, selling a stake in subsidiary Airtel Africa Plc and the sale-and-leaseback of towers in Africa. The comoany management aspires to achieve a debt/EBITDA ratio

Topics : 5G Bharti Airtel Fitch Ratings 5G spectrum