Bharti Telecom to launch $1.7 bn mega bond issue next week

India’s Bharti Telecom, the holding company of Bharti Airtel, will launch the largest bond sale of the current fiscal year next week, aiming to raise funds at significantly lower rates than last year, according to three merchant bankers.

- Reuters

Mutual funds are likely to be big buyers of the bonds, says one of the bankers.

(ISTOCKPHOTO)

The company is looking to raise 150 billion rupees ($1.7 billion) through the sale of bonds maturing in two years and in three years and two months.

Tt will pay an annual coupon of 7.35% and 7.45% on these issues, respectively, the bankers added.