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Bharti Telecom to Launch ₹15,000 Crore Bond Issue at Record-Low Rates
Bharti Telecom to Launch ₹15,000 Crore Bond Issue at Record-Low Rates
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BTCCSquare news:
Bharti Telecom, the holding company of Bharti Airtel, is set to open a ₹15,000 crore bond sale next week—the largest of the current fiscal year. The offering comprises two tranches: a two-year bond with a 7.35% coupon and a three-year-two-month bond at 7.45%. Rates are significantly lower than previous issuances, aided by a 100 bps RBI rate cut expectation for 2025 and an upgrade to AAA by CRISIL.
Mutual funds are expected to dominate demand, with additional interest from foreign and private banks. Proceeds will primarily refinance ₹9,750 crore in maturing debt, with a portion allocated to capex. If successful, this will mark Bharti's cheapest fundraising in four years, surpassing last November's ₹11,150 crore issuance.
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