Published on 2/12/2020 in the Prospect News Emerging Markets Daily.
New Issue India’s Bharti Airtel unit sells $250 million more 5.65% perpetuals
By Sarah Lizee
Olympia, Wash., Feb. 12 – Bharti Airtel Ltd. subsidiary Network i2i Ltd. sold $250 million more 5.65% subordinated perpetual securities (BB/expected BB), according to a filing with the Bombay Stock Exchange.
Bharti Airtel guarantees the Rule 144A and Regulation S securities.
Bharti Airtel is a mobile telecommunications company based in New Delhi.
| Issuer: | Network i2i Ltd.
|
| Guarantor: | Bharti Airtel Ltd.
|
| Issue: | Subordinated perpetual securities
|
| Amount: | $250 million
|
| Maturity: | Perpetual
|
| Coupon: | 5.65%
|
| Announcement date: | Feb. 12
|
| Ratings: | S&P: BB
|
| Fitch: BB expected
|
| Distribution: | Rule 144A and Regulation S
|
| Total issuance: | $1 billion, including $750 million issued on Oct. 15, 2019
|
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