Bharti Airtel on Tuesday said it had raised $500 million through the issue of bonds, within a month of raising $1 billion in the largest such fund-raising from an Indian telecom operator.
In a statement, the company said its wholly-owned subsidiary Bharti Airtel International (Netherlands) B.V. has successfully raised $500 million notes (the Additional Notes) in addition to the recently concluded transaction of $1,000 million 5.125 per cent fixed rate senior unsecured guaranteed 144A/Reg S Notes due 2023.
This was the largest-ever telecom transaction out of Asia ex-Japan and the largest-ever dollar issue of an Indian company since rating action last year, it said.
“The transaction is the first tap issuance out of India this year making it the largest single tranche issuance in 2013 so far,” Bharti Airtel said, adding the transaction drew an order book of approximately $2 billion with participation from 140 high quality investor accounts.
“High participation by fund managers for an Indian issuance and real money investor participation of 77 per cent demonstrates the superior quality of the order book and the confidence the global investors have in the fundamentals and credit of the company,” Bharti Group Treasurer Harjeet Kohli said.
