Bharti Airtel International Begins Cash Purchase Of $1.5 Billion Bonds To Reduce Debt
Bharti Airtel Ltd. on Saturday said that its subsidiary Bharti Airtel International (Netherlands) BV would pre-pay debt worth $1.5 billion, using the proceeds it got from six global entities investing in its Africa unit.
Bharti Airtel International (Netherlands) commenced cash purchase of $1.5 billion, 5.125 percent guaranteed senior notes which were due in 2023, Bharti Airtel said in a regulatory filing.
This offer, it said, has been made with a view to “proactively manage its capital structure, reduce gross debt and leverage by acquiring the Notes funded out of equity proceeds and also provide liquidity to Noteholders at a premium to the market.”
Bharti Airtel group continues to deleverage and pursue its strategies towards that end, it added.
In line with this, it has been actively exploring various equity driven initiatives, including those previously announced regarding its Africa business, so as to proactively manage its balance sheet and capital structure to align them to the group's core conservative philosophy.Bharti Airtel Statement
Airtel Africa Ltd., a U.K. incorporated subsidiary of Bharti Airtel Ltd., recently made a successful primary equity issuance of $1.25 billion to six leading global investors, including Warburg Pincus, Temasek, Singtel, SoftBank Group and others.
“The proceeds of this equity issuance are intended to be used to reduce Airtel Africa's existing debt of approximately $5 billion on the date of the announcement,” it said.
The proceeds of this equity issuance are now fully realised and available as cash. The company also carries organic cash on its balance sheet.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
