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Airtel Africa completes $200-million funding deal with Qatar sovereign fund

With this fresh investment, the overall debt of Bharti Airtel will reduce to $3.5 billion

Airtel Africa  |  Bharti Airtel  |  Qatar Investment Authority

Press Trust of India  |  New Delhi 

Airtel Africa completes USD 200-mn funding transaction with Qatar sovereign fund

Thursday said it has completed an investment transaction of $200 million with the Investment Authority (QIA).

"We hereby inform that upon receipt of full issue proceeds ie $200 million, the said primary equity issuance by Limited, UK has now been completed," Airtel said in a regulatory filing.

The company on Wednesday announced that QIA, the sovereign wealth fund of Qatar, would invest $200 million in through a primary equity issuance.

Airtel decided to use the proceeds from QIA to further reduce Airtel Africa's existing net debt.

With this fresh investment, the overall debt of will reduce to $3.5 billion.

The investment from QIA is in addition to the recent $ 1.25-billion investment by six leading global investors, including Warburg Pincus, Temasek, Singtel, and International, in Airtel Africa.

Representatives from the six investors have already joined the Airtel Africa board.

The fresh transaction with QIA will not involve any sale of shares by the existing shareholders.

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First Published: Thu, January 31 2019. 13:20 IST