By Aleesia Forni
Virginia Beach, March 13 - Bharti Airtel International (Netherlands) BV priced CHF 350 million of six-year senior notes at mid-swaps plus 230 basis points, according to a company news release.
The notes (Baa3/BBB-/BBB-) priced at 100.108 to yield 2.98%.
Proceeds will be used to refinance existing debt.
BNP Paribas, Deutsche Bank and UBS were the lead managers.
Bharti Airtel is a mobile telecommunications company based in New Delhi.
| Issuer: | Bharti Airtel International (Netherlands) BV
|
| Guarantor: | Bharti Airtel Ltd.
|
| Amount: | CHF 350 million
|
| Description: | Senior notes
|
| Maturity: | March 31, 2020
|
| Lead managers: | BNP Paribas, Deutsche Bank, UBS
|
| Coupon: | 3%
|
| Price: | 100.108
|
| Yield: | 2.98%
|
| Spread: | Mid-swaps plus 230 bps
|
| Trade date: | March 13
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
| Fitch: BBB-
|
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