By Christine Van Dusen
Atlanta, June 3 – India’s Bharti Airtel sold $1 billion 4.37% notes due 2025 (Baa3/BBB-/BBB-) at a spread of 210 basis points over Treasuries, a market source said.
The notes were talked at a spread of 220 bps.
BofA Merrill Lynch, Barclays, Deutsche Bank, HSBC, Standard Chartered Bank, BNP Paribas were the bookrunners for the deal.
Other details were not immediately available on Wednesday.
Bharti Airtel is a mobile telecommunications company based in New Delhi.
| Issuer: | Bharti Airtel
|
| Amount: | $1 billion
|
| Maturity: | 2025
|
| Description: | Notes
|
| Bookrunners: | BofA Merrill Lynch, Barclays, Deutsche Bank, HSBC, Standard Chartered Bank, BNP Paribas
|
| Coupon: | 4.37%
|
| Spread: | Treasuries plus 210 bps
|
| Trade date: | June 3
|
| Ratings: | Moody’s: Baa3
|
| Standard & Poor’s: BBB-
|
| Fitch: BBB-
|
| Price talk: | Treasuries plus 220 bps
|
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