Mumbai: Bharti Airtel<\/a> raised about $1.25 billion overseas via two sets of global papers — perpetual and vanilla bonds. The sales received bids worth over $2.5 billion, market sources told ET. 大约10投资银行,包括美国银行、花旗集团、摩根大通、汇丰银行、渣打银行、巴克莱帮助电信筹资约10亿美元(7500卢比)。借款人将关闭当地时间周三午夜订阅窗口。 孟买:Bharti Airtel通过两套筹集了约12.5亿美元的海外全球报纸——永恒的和香草的债券。销售收到投标价值超过25亿美元,市场消息人士告诉等。 Mumbai: Bharti Airtel<\/a> raised about $1.25 billion overseas via two sets of global papers — perpetual and vanilla bonds. The sales received bids worth over $2.5 billion, market sources told ET.
Multinational insurance giant AIA, China Life, Singapore-based Eastspring Investments, Blackrock were among bidders who wanted to subscribe those papers. While the first set of bonds offered around 4%, the other series was priced after adding 187.5 basis points over the 10-year US Treasury, sources said. Overall, these levels were about 35-43 basis points lower than the initial guidance. Individual investors could not be contacted immediately for comments.
“Pricing was tighter amid a growing number of bids for those papers,” said one of the bankers involved in the exercise. Both the issuances are expected to be at least of a standard benchmark size – of $500 million.
Perpetual securities with no fixed maturities were initially anticipated to offer 4.375% with a five-year call option. Other bonds were set to be priced after adding 230 basis points over the benchmark US treasury with over 10-year maturity.
About 10 investment banks, including Bank of America, Citigroup<\/a>, JP Morgan, HSBC, Standard Chartered Bank<\/a>, Barclays were helping the telco raise about $1 billion (Rs 7,500 crore). The borrower would be closing the subscription window Wednesday midnight local time.
The fundraising is aimed at building a war chest as India’s second-largest telco needs cash to buy spectrum in the upcoming 4G auction, invest in networks and also pay statutory dues, among other needs.
The overseas perpetual bonds are likely to be raised by Airtel’s Mauritius arm, Network i2i, and guaranteed by the telco. Bharti Airtel was the issuer for other set of papers.
Global rating companies Fitch and S&P<\/a> assigned ‘BB’ grade to the perpetual papers, billed as quasi-equity, which is two notches lower than the other set of bonds, marked as BBB-, the lowest rank in the investment grade category.
‘We expect Bharti to generate small positive free cash flow (FCF) in FY21 on flat core capex, lower interest costs and the government’s two-year moratorium on the payment of existing spectrum dues,” the global rating company said in a note.
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<\/a><\/figure>Airtel, Vodafone Idea mention AGR calculation error plea in SC, court says to hear in 2 weeks<\/a><\/h5><\/div>
<\/a><\/figure>Bharti Airtel launches global bond sales raising about $1 bn<\/a><\/h5><\/div><\/div><\/div>
BNP Paribas, DBS Bank and SMBC Nikko are among others helping the borrower in the bond sales.
Airtel’s latest fundraise plans come after it returned to the black by posting an Rs 854 crore net profit in the December quarter after six straight quarters of losses, on the back of a one-time gain linked to the Bharti Infratel and Indus Towers merger and strong mobile broadband user adds that led to record revenue.
India’s second-largest telco has already raised some $8 billion in the last couple of years. The telco recently demonstrated live 5G services on its 4G network using the 1800 MHz band and said it can commercially launch 5G with existing 4G airwaves in a few months.
Airtel also owes the government nearly Rs 26,000 crore as adjusted gross revenue (AGR) dues.
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Bharti Airtel利率提高12.5亿美元,低于预期
跨国保险巨头友邦保险、中国人寿、新加坡Eastspring投资,贝莱德在投标人想要订阅的报纸。在第一组债券4%左右,其他系列定价后增加187.5个基点10年期美国国债,消息人士说。总的来说,这些关于35-43基点的水平低于最初的指导。未能联系到个人投资者立即评论。
永恒的证券没有固定到期日最初预期的4.375%,五年的看涨期权。其他债券定价增加230个基点后,基准的10年期美国国债超过成熟。
大约10投资银行,包括美国银行(Bank of America),花旗集团(Citigroup),摩根大通、汇丰银行、渣打银行(Standard Chartered Bank),巴克莱帮助电信筹资约10亿美元(7500卢比)。借款人将关闭当地时间周三午夜订阅窗口。
筹集资金的目的是为了建立一个战争基金成为印度第二大电信需要现金购买在即将到来的4 g频谱拍卖,还投资于网络和支付法定费,其他的需要。
提出的海外永久债券可能Airtel的毛里求斯的手臂,由电信网络i2i和保证。Bharti Airtel的发行人是另一组文件。
惠誉国际评级公司标普分配“BB”级永久的论文,作为准,比另一组低两级的债券,标记为BBB -,等级最低的投资级类别。
我们预计Bharti生成小正的自由现金流(自由现金流量)在FY21平核心资本支出,降低利息成本和政府的为期两年的暂停支付现有的频谱费,“全球评级公司在一份报告中称。
法国巴黎银行(BNP Paribas)、星展银行和SMBC日光等帮助借款人在债券销售。
Airtel的最新筹资计划来后回到黑通过发布一个854卢比12月季度净利润连续六个季度的亏损后,一次性获得有关的鼓吹和印度河塔合并和强大的移动宽带用户增加导致创纪录的收入。
印度第二大电信已经筹集了大约80亿美元在过去几年。电信最近演示了5 g服务在其4 g网络使用1800 MHz频带和说它可以商业发射5 g与现有4 g无线电波在几个月。
Airtel还欠政府近26000卢比调整总收入(AGR)会费。
Multinational insurance giant AIA, China Life, Singapore-based Eastspring Investments, Blackrock were among bidders who wanted to subscribe those papers. While the first set of bonds offered around 4%, the other series was priced after adding 187.5 basis points over the 10-year US Treasury, sources said. Overall, these levels were about 35-43 basis points lower than the initial guidance. Individual investors could not be contacted immediately for comments.
“Pricing was tighter amid a growing number of bids for those papers,” said one of the bankers involved in the exercise. Both the issuances are expected to be at least of a standard benchmark size – of $500 million.
Perpetual securities with no fixed maturities were initially anticipated to offer 4.375% with a five-year call option. Other bonds were set to be priced after adding 230 basis points over the benchmark US treasury with over 10-year maturity.
About 10 investment banks, including Bank of America, Citigroup<\/a>, JP Morgan, HSBC, Standard Chartered Bank<\/a>, Barclays were helping the telco raise about $1 billion (Rs 7,500 crore). The borrower would be closing the subscription window Wednesday midnight local time.
The fundraising is aimed at building a war chest as India’s second-largest telco needs cash to buy spectrum in the upcoming 4G auction, invest in networks and also pay statutory dues, among other needs.
The overseas perpetual bonds are likely to be raised by Airtel’s Mauritius arm, Network i2i, and guaranteed by the telco. Bharti Airtel was the issuer for other set of papers.
Global rating companies Fitch and S&P<\/a> assigned ‘BB’ grade to the perpetual papers, billed as quasi-equity, which is two notches lower than the other set of bonds, marked as BBB-, the lowest rank in the investment grade category.
‘We expect Bharti to generate small positive free cash flow (FCF) in FY21 on flat core capex, lower interest costs and the government’s two-year moratorium on the payment of existing spectrum dues,” the global rating company said in a note.
<\/p>Read also<\/h4>
<\/a><\/figure>Airtel, Vodafone Idea mention AGR calculation error plea in SC, court says to hear in 2 weeks<\/a><\/h5><\/div>
<\/a><\/figure>Bharti Airtel launches global bond sales raising about $1 bn<\/a><\/h5><\/div><\/div><\/div>
BNP Paribas, DBS Bank and SMBC Nikko are among others helping the borrower in the bond sales.
Airtel’s latest fundraise plans come after it returned to the black by posting an Rs 854 crore net profit in the December quarter after six straight quarters of losses, on the back of a one-time gain linked to the Bharti Infratel and Indus Towers merger and strong mobile broadband user adds that led to record revenue.
India’s second-largest telco has already raised some $8 billion in the last couple of years. The telco recently demonstrated live 5G services on its 4G network using the 1800 MHz band and said it can commercially launch 5G with existing 4G airwaves in a few months.
Airtel also owes the government nearly Rs 26,000 crore as adjusted gross revenue (AGR) dues.
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