Bharti Airtel has approached investors for issuance of debt instruments
Bharti Airtel in the auction bought 3G spectrum in seven telecom service areas
New Delhi: Country's largest private telecom operator Bharti Airtel on June 3 said it has approached investors for issuance of 10-year US dollar bonds. "Bharti Airtel has approached investors for issuance of debt instruments in the form of USD-denominated Senior Unsecured Notes," it said in a filing to BSE. The notes are expected to be rated BBB- (Fitch) / BBB- (S&P) / Baa3 (Moody's), it added.
"The proceeds will be used for capital expenditure in compliance with end-use guidelines set forth in the Master Circular by RBI and all laws and regulations of India applicable to the Company," it said. It added that the expected tenure is 10 years and the likely listing would be on the Singapore Stock Exchange.
( Source : PTI )
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