Bharti Airtel is reportedly considering to raise up to $1 billion in an offshore bond issue. The move comes as the telecom operator plans to refinance high-cost debt, strengthen its balance sheet and also cover some of its 5G capital expenditure requirements.
As per industry sources, the company is in talks with Barclays, Standard Chartered Bank and Citi in order to know the possibility of floating US dollar bonds in the overseas markets in one or more tranches this fiscal year. The offshore bonds are likely to have maturities of three to five years, even if the exact details of the fundraising have not yet been determined.
