Bharti Airtel is reportedly planning to raise $1 billion with an offer of perpetual bonds- securities with no maturity date for investors.
To this end, the telco is believed to have sounded various MNC banks regarding the plan in an effort to tap offshore institutional investors.
As per industry sources, while the quasi debt paper, under the proposed offer, would be perpetual in character for investors, the issuer Bharti would have a call option or the right to repay its lenders after five years.
This will be airtel’s second perpetual bond float and the telco is expected to enter the market in February 2021.
As per media reports, Airtel may use the funds for business expansion and refinancing more expensive debt raised few years ago.
