Bharti Airtel arm raises USD 500 mn, shares soar 3%

Written By Unknown on Selasa, 26 Maret 2013 | 23.25

Country's largest telecom operator Bharti Airtel gained more than 3 percent on Tuesday after its subsidiary Bharti Airtel International (Netherlands) BV raised USD 500 million notes (additional notes).

The company says it is in addition to the recently concluded transaction of USD 1,000 million 5.125 percent fixed rate senior unsecured guaranteed notes due 2023.

Additional notes issued at a premium and priced at 100.625 percent to yield 5.044 percent will be consolidated and formed in a single series along with the USD 1,000 million 5.125 percent guaranteed senior notes issued on March 11, 2013.

This is the largest ever telecom transaction out of Asia ex-Japan. "High participation by fund managers for an Indian Issuance and real money investor participation of 77% demonstrates the superior quality of the order book and the confidence the global investors have in the fundamentals and credit of the company," Harjeet Kohli, group treasurer of Bharti said.

At 15:15 hours IST, shares rose 3.02 percent to Rs 297.15 on Bombay Stock Exchange.



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