New Issue: India's Bharti Airtel sells €750 million 4% notes due 2018 at mid-swaps plus 300 bps

By Christine Van Dusen

Atlanta, Nov. 26 - India's Bharti Airtel Ltd. priced €750 million 4% five-year notes (Baa3//BBB-) at 99.756 to yield 4.055%, or mid-swaps plus 300 basis points, a market source said.

Barclays, BNP Paribas, Deutsche Bank, JPMorgan, Standard Chartered Bank and UBS Investment Bank were the bookrunners for the Regulation S transaction.

The proceeds will be used to repay and refinance existing debt.

Bharti Airtel is a mobile telecommunications company based in New Delhi.

Issuer:	Bharti Airtel Ltd.
Amount:	€750 million
Maturity:	Dec. 10, 2018
Description:	Notes
Bookrunners:	Barclays, BNP Paribas, Deutsche Bank, JPMorgan, Standard Chartered Bank, UBS Investment Bank
Coupon:	4%
Price:	99.756
Yield:	4.055%
Spread:	Mid-swaps plus 300 bps
Trade date:	Dec. 3
Settlement date:	Dec. 10
Ratings:	Moody's: Baa3
	Fitch: BBB-
Distribution:	Regulation S

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