Roadshows on in Europe for Airtel's $1 bn bond offer

In March, company had raised $1.5 billion in overseas debt in two tranches

Bharti Airtel today said the roadshows are underway in Europe for its benchmark bond offer to raise around $1 billion through euro bonds.

"The roadshows are on," Bharti Enterprises Deputy Group Chief Executive and Managing Director Akhil Gupta said on the sidelines of an event here when asked about the bond offering.

This is the third bond sale by the country's largest mobile operator this year. In March, it had raised $1.5 billion in overseas debt in two tranches.

According to a merchant banker, the company's arm - Bharti Airtel International Netherlands - is raising the money, which will fully guaranteed by the parent firm.
 

StanChart, Barclays, JP Morgan, UBS and BNP Parinas are the joint book-runners and lead-managers to the issue, the merchant banker said, adding that the roadshows are underway in London, Paris, Amsterdam and Frankfurt.