Bharti Airtel raises $750 mln via unsecured senior fixed rate notes

The allotment of $500 million subordinated perpetual securities has also been completed by wholly-owned subsidiary, Network i2i.

Mar 04, 2021 10:03 IST capital market

The telecom major on Wednesday said it has raised $750 million through allotment of unsecured senior fixed rate notes to eligible investors. The notes bear a coupon rate of 3.25% and are due on the year 2031. The notes shall be listed on the Singapore Exchange Securities Trading.

Further, the allotment of $500 million, 3.975% subordinated perpetual securities has also been completed by Network i2i, a Mauritius based wholly-owned subsidiary of the company. The perpetual securities shall be listed on the Singapore Exchange Securities Trading.

On a consolidated basis, Bharti Airtel reported a net profit of Rs 853.60 crore in Q3 FY21 as against net loss of Rs 1,035.30 crore in Q3 FY20. Net sales during the quarter increased by 24.2% year-on-year (Y-o-Y) to Rs 26,517.80 crore.

Bharti Airtel is a global telecommunications company with operations in 18 countries across South Asia and Africa.

The scrip shed 0.96% to currently trade at Rs 541 on the BSE.

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