In a regulatory filing, Bharti Airtel has disclosed that it has approved the allotment of equity worth $8.6 million (about Rs 710 million), to those holding its foreign debt bonds issued in January 2020. To this end, the operator noted that it has approved the allotment of 1,188,917 fully paid-up equity shares of face value Rs 5 each at a conversion price of Rs 521 per equity share to such holders of foreign currency convertible bonds (FCCBs).
The company had issued $1 billion, 1.5 per cent foreign currency convertible bonds (FCCBs) that are due for 2025. With the aforesaid allotment, the company said that the outstanding principal value of FCCBs, as listed at Singapore Exchange Limited, stands reduced to $991.20 million.
