Bharti Airtel has raised CHF350 million (Rs.2,453.20 crore) through the issue of bonds in the Swiss market, mopping up funds for the third time in this fiscal from overseas.

The proceeds will be used to refiance its existing debt.

The company said in a statement that “its wholly-owned subsidiary Bharti Airtel International (Netherlands) BV has successfully priced CHF350 million 3 per cent guaranteed senior notes due March 31, 2020.”

The bonds have been issued for a six-year period at an interest rate of 3 per cent.

“The notes have been priced at 230 basis points over six year CHF mid-swaps with a fixed coupon of 3 per cent per annum to yield 2.98 per cent,” the company said in a statement.

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