Bharti Telecom, the holding company of Bharti Airtel, has reportedly accepted bids worth Rs 111.5 billion ($1.33 billion) in its biggest-ever bond issue, surpassing the State Bank of India’s issue in July 2024 (Rs 100 billion).
The bond was largely subscribed by mutual funds, insurance companies, private credit funds, and some foreign banks, with SBI Mutual Fund being the largest anchor investor.
The company raised funds through a six-part issue, including Rs 20 billion each through three-year, three-year and ten-day bonds, Rs 16.5 billion through four-year bonds, Rs 25 billion via five-year bonds, and Rs 15 billion each through seven-year and ten-year papers. The company will pay an annual coupon of 8.65 per cent on three-year papers and 8.25 per cent on three-year and ten-day bonds, and 8.75 per cent each on four-year and five-year bonds and 8.90 per cent each for seven-year and ten-year bonds.
