Bharti Airtel has reportedly raised $750 million through subordinated perpetual security bonds issued by its subsidiary Network i2i Limited.Airtel plans to use the proceedings for reducing its debt and strengthening the balance sheet of the company.
Further, Airtel added that the proceeds shall be used for deleveraging through refinancing and investments in subsidiaries and general corporate purpose.
The bonds are guaranteed by Bharti Airtel Limited and are expected to be rated BB by both S&P and Fitch.
