Telecom operator Bharti Airtel’s board on Tuesday permitted raising to Rs 7,500 crore via debt instruments.
The board has also granted authority to the Special Committee of Directors to elect (based on market conditions) on all matters associated with such issuance of securities, comprising finalisation and authorization of terms and conditions, the quantum of the tranche, and the timing.
In a regulatory filing, Airtel announced that the Board of Directors in its meeting on Tuesday evaluated the company’s routine financing and re-financing strategies, containing any market maturities in the due matter.
The company has granted enabling permissions for such re-financing vide debt instruments (as and when deemed appropriate) through the allocation of secured/ unsecured, listed/unlisted non-convertible debt securities comprising debentures, bonds etc up to Rs 7,500 crores (or in equivalent foreign currency) in one or more tranches from duration to time…subject to all related regulatory/ statutory approvals.
However, last month, Bharti Airtel had confirmed that tech titan Google will finance as much as USD 1 billion in the company for picking up a 1.28 per cent stake and scaling up assistance of India’s second-largest mobile phone operator.
