Bharti Airtel's $1-bn bond issue gets fully subscribed; stock up
Shares
of Bharti Airtel were marginally in the green on Monday on reports that
the company’s billion-dollar bond issue was fully subscribed.
BSE
316.85
5.90 (1.90%)
Vol:323128 shares traded
NSE
316.90
5.80 (1.86%)
Vol:3016532 shares traded
MUMBAI: Shares of Bharti AirtelBSE 1.90 % were marginally in the green on Monday on reports that the company's billion-dollar bond issue was fully subscribed.
According to ET Now sources, the issue has a tenor of 10 years with a coupon rate cut-off of 5.5 per cent.
The stock has been holding firm in trade after Ajaya Sharma, Research Analyst, ET Now, broke the news before market hours about Bharti Airtel's $1billion bond issue for overseas investors.
Barclays, DB, Citi, HSBC, BNP Paribas, StanC and UBS are bankers to the issue.
The issue has been raised via Bharti Airtel International (Netherlands).
According to sources, a major part of the issue will be used for re-payment of older debt. The company has consolidated debt of about $8 billion at 2 per cent average cost.
The company had tried to raise funds through dollar bond in June 2011, but failed to do so.
At 01:50 pp, the stock was at Rs 311.35, up 0.13 per cent, on the BSE. It touched a high of Rs 314.50 and a low of Rs 307.55 in trade today.
According to ET Now sources, the issue has a tenor of 10 years with a coupon rate cut-off of 5.5 per cent.
The stock has been holding firm in trade after Ajaya Sharma, Research Analyst, ET Now, broke the news before market hours about Bharti Airtel's $1billion bond issue for overseas investors.
Barclays, DB, Citi, HSBC, BNP Paribas, StanC and UBS are bankers to the issue.
The issue has been raised via Bharti Airtel International (Netherlands).
According to sources, a major part of the issue will be used for re-payment of older debt. The company has consolidated debt of about $8 billion at 2 per cent average cost.
The company had tried to raise funds through dollar bond in June 2011, but failed to do so.
At 01:50 pp, the stock was at Rs 311.35, up 0.13 per cent, on the BSE. It touched a high of Rs 314.50 and a low of Rs 307.55 in trade today.
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