Bharti Airtel International (Netherlands) BV, which manages Bharti Airtel Ltd.'s Africa business, has issued a tender offer to buy back up to $300 million of senior notes.
The tender offer to purchase $300-million 5.35% guaranteed senior notes of $1 billion due 2024 commenced from June 21 and will expire on July 19, 2022, according to the company's regulatory filing on Wednesday. "The purpose of the tender offer is for the company to optimise its balance sheet and reduce debt."
Consolidated net debt, excluding lease obligations, for Bharti Airtel stood at Rs 1,23,544 crore as on March 31, 2022, compared to Rs 1,15,512.4 crore in the year-ago period.
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