GTL Infrastructure Limited (GIL) has raised $300 million through a foreign currency convertible bond issue.

GTL Infrastructure Limited (GIL) has raised $300 million through a foreign currency convertible bond issue. A total of 93 global investors participated in the issue with confirmed orders in excess of $1.1 billion. The issue, lead managed by Citibank and Standard Chartered, was oversubscribed by 4.41 times. In a related development, GIL has been sanctioned a $700 million debt by leading domestic and international banks. The company is planning to invest $1.7 billion for setting up 25,000 shared telecom towers in the country.