The primary aim of private placement before tapping global debt markets; firm also looking at taking advantage of negative rates in Europe. The company is in talks with at least half a dozen foreign banks including BNP, Citibank, HSBC, Standard Chartered, Bank of America and JP Morgan.
MUMBAI | NEW DELHI: Bharti Airtel may issue shares first and bonds later as it plans to raise $2-4 billion to pay up its adjusted gross revenue (AGR)-based dues, said people aware of the developments. The mobile phone operator is exploring a private placement of shares to help build investor confidence before it taps the global market, including India,
Fifteen telcos owe Rs 1.47 lakh crore, with Airtel and Vodafone Idea the worst hit. Bharti Airtel posted a loss of more than Rs 23,000 crore in the September quarter, after making provisions of over Rs 28,450 crore toward the AGR dues. The company had then expressed doubt about viability if the amount had to be paid in full.