Telecom giant Bharti Airtel today in a regulatory filing announced the raising of $750 million ($750,000,000) on March 3, 2021 through allotment of Unsecured Senior Fixed Rate Notes to eligible investors. The notes will be listed on the Singapore Exchange Securities Trading Limited.
Airtel has also completed the allotment of $ 500,000,000 subordinated perpetual securities through Network i2i Limited, a Mauritius based wholly owned subsidiary of the company. The perpetual securities will also be listed on the Singapore Exchange Securities Trading Limited.
The allotment is in line with Bharti Airtel’s Special Committee of Directors for Debt Fund Raising giving the approval. The board had last month approved fund raising up to Rs 7,500 crores (or in equivalent foreign currency) in one or more trenches from time to time within the limits of Section 180 (1) (c) of the Companies Act 2013.
In other news, Airtel Digital recently acquired 5,000 equity shares amounting to 10% stake in Ferbine Private Limited on February 25, 2021. The investee company was incorporated earlier this year to make an application to RBI for PUE license to operate a pan-India umbrella entity for retail payment systems.