Vodafone India is planning to raise Rs 17 billion through a bond offering. The bonds are likely to have tenors of three to five years. The deal comes a month after the company raised Rs 75 billion through a subordinated bond offering of five years and one month.
The bond issue in consideration is likely to pay 100 basis points lower than the subordinated offering which pays an annual coupon of 10.25 per cent. The subordinated offering is rated AA- by Crisil. The latest offering is expected to have a higher rating.
Vodafone would use the proceeds of the new offering for funding its capital expenditure.
