Bharti Airtel International (Netherlands) B.V, a subsidiary of Bharti Airtel, has pre-paid a debt of over $995 million as part of a recently-concluded cash purchase of its bonds.

Earlier in November 2018, Airtel had announced that it will pre-pay $1.5 billion debt with its subsidiary Bharti Airtel International (Netherlands). For this, the company said that it will use the proceeds it got from six global entities who invested in its Africa unit.

Accordingly, Bharti Airtel International (Netherlands) B.V started the cash purchase of $1.5 billion, 5.13 per cent guaranteed senior notes which were due in 2023.

Airtel had said it would utilise the proceeds of the equity issuance and the cash available to it in order to reduce its existing debt. To this end, the operator has offered to purchase 'any and all' of the Notes pursuant to the tender offer.