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Bharti Airtel secures full commitment from leading global banks to refinance € 1 billion debt

October 05, 2018
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Bharti Airtel has secured full commitment from leading global banks like Bank of America, Barclays Bank, BNP Paribas, JP Morgan Chase Bank and Citibank among others to refinance its debt of € 1 billion, which will mature in December 2018.

The debt was raised by Airtel’s Netherlands-based subsidiary, Bharti Airtel International (Netherlands) B.V., in 2013 through 4 per cent € 1,000 notes.

The company had issued the notes at a principal amount of € 1 billion.

In a note to creditors, Airtel has offered the option of early repayment to subscribers of the debt instrument and said that it has received assurance from global banks for redemption of the notes on maturity. Any stakeholder not exercising the option of early repayment will have the option to settle it on the scheduled maturity date of December 10, 2018.

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