Published on 3/5/2013 in the Prospect News Emerging Markets Daily, Prospect News High Yield Daily and Prospect News Investment Grade Daily.
New Issue: India's Bharti Airtel prints $1 billion 5 1/8% 10-year notes at 324 bps spread
By Christine Van Dusen
Atlanta, March 5 - India's Bharti Airtel Ltd. sold $1 billion 10-year notes (expected ratings: /BB+/BBB-) at par to yield 5 1/8%, or Treasuries plus 324 basis points, a market source said.
Barclays, BNP Paribas, Citigroup, Deutsche Bank, HSBC, Standard Chartered Bank and UBS were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used to repay and refinance existing foreign currency debt and for general corporate purposes.
Bharti Airtel is a mobile telecommunications company based in New Delhi.
| Issuer: | Bharti Airtel Ltd.
|
| Amount: | $1 billion
|
| Maturity: | March 11, 2023
|
| Description: | Senior notes
|
| Bookrunners: | Barclays, BNP Paribas, Citigroup, Deutsche Bank, HSBC, Standard Chartered Bank
|
| Coupon: | 5 1/8%
|
| Price: | Par
|
| Yield: | 5 1/8%
|
| Spread: | Treasuries plus 324 bps
|
| Trade date: | March 4
|
| Settlement date: | March 11
|
| Expected ratings: | Standard & Poor's: BB+
|
| Fitch: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
