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Airtel’s final call on foreign currency bonds issuance post-meet with investors

The Bharti Airtel board had earlier this month accepted fundraising plan of as much as 7,500 crore by way of debt devices equivalent to debentures and bonds, in a number of tranches.

PTI, New Delhi

PUBLISHED ON FEB 22, 2021 06:13 PM IST

Bharti Airtel on Monday mentioned it is going to meet world fastened revenue traders on or after February 23, submit which the corporate will take a ultimate determination on the issuance of international foreign money bonds, topic to market circumstances.

The Bharti Airtel board had earlier this month accepted fundraising plan of as much as 7,500 crore by way of debt devices equivalent to debentures and bonds, in a number of tranches.

In a regulatory submitting on Monday, Airtel mentioned, “…the corporate will meet world fastened revenue traders on or after February 23, 2021, following which and topic to market circumstances, the corporate will take a ultimate determination with regard to the issuance of international foreign money bonds/ notes and a deal might or might not observe.”

Accordingly, topic to such ultimate determination, an authorised Particular Committee of Administrators might meet anytime on or after two working days to contemplate the issuance and its detailed phrases and circumstances, the submitting added.

Airtel’s fundraising plan comes at a time when the federal government has set the ball rolling for the upcoming spectrum public sale, by which radio waves valued at 3.92 lakh crore might be placed on the block. The public sale in seven spectrum bands for cellular providers – 700, 800, 900, 1800, 2100, 2300 and 2500MHz bands – is scheduled to start out from March 1.

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