Bharti Airtel International (Netherland) to raise $250 million through bonds

Bharti Airtel International (Netherland), a wholly owned subsidiary of Bharti Airtel Limited is expected to raise $250 million through dollar bonds.

In March 2013, the company had raised $1billion through 10 year bonds. The new bond being proposed by the operator will be merged with the earlier issue. The bond issue comes at a time when the domestic companies are finding it extremely expensive to raise rupee denominated funds. Consequently, the domestic companies are accessing the overseas markets, to access finance at lower rates. A majority of companies are looking at refinancing their old acquisitions with cheaper debt.

So far in 2013, over half a dozen companies, including Reliance Industries Limited, PowerGrid, Tata Communications Limited, ICICI Bank, HDFC Bank, EXIM Bank, Bank of India and Bharti Airtel among others, have raised over $5 billion from overseas debt market.