Bharti Telecom sells ₹10,500 cr bonds

Bharti Telecom Ltd (BTL) raised ₹10,500 crore by selling short-term bonds maturing in two and three years on Tuesday, three merchant bankers told Mint.

- Subhana Shaikh

This is one of the largest corporate bond issuances so far in the current fiscal, they said.

BTL, the main controlling company of telecom operator Bharti Airtel, raised ₹5,250 crore through bonds maturing in October 2027 at a coupon rate of 7.35%, and an equal amount through papers maturing in December 2028 at a coupon of 7.45%, the bankers said, requesting not to be identified.

Proceeds will be used to refinance the company’s existing debt maturing in coming months, they said.