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Money Feb 22, 2013

Bharti Airtel to meet investors for $1 bn bond sale next week

New Delhi: Telecom major Bharti Airtel is likely to meet global investors early next week for its proposed billion-dollar bond sale, sources said.

Reuters

Shares of Bharti Airtel were trading at Rs 308.35, up 4.66 percent. Reuters

"The company will meet investors early next week, possibly on Monday, for a benchmark bond sale that is expected to raise $ 1 billion", sources said. They said the company's plan to raise $1 billion was already shared by Bharti Enterprises Group Chief Financial Officer Sarvjit Dhillon on February 1.

Standard Chartered, Barclays, Citibank, Deutsche Bank are among investment banks that are involved in the process of facilitating investor meets in Asia, Europe and the United States. A benchmark bond is one that provides a standard against which the performance of other bonds can be measured. Shares of Bharti Airtel were trading at Rs 308.35, up 4.66 percent, in the afternoon session at BSE today.

PTI


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