Airtel converts foreign debt bonds worth $49.87 million into equity

Bharti Airtel has converted $49.87 million worth of foreign debt bonds issued in January 2020 into equity.

According to a regulatory filing, Airtel had raised $1,000 million through foreign currency convertible bonds (FCCBs) in January 2020 that were convertible into the company’s fully-paid up equity shares of Rs 5 each at any time on or after February 27, 2020, and up to the close of business hours on February 7, 2025, at the option of the FCCB holders.

According to Airtel, with this transaction, the outstanding principal value of FCCBs listed on the Singapore Exchange Limited stands reduced to $80.60 million.