Bharti Airtel raises $1.25 bn through issue of dual tranche $ bond offering

Bharti Airtel has successfully priced its debt fund raising of $1.25 billion through the issuance of its first ever dual-tranche $ bond offering spread across senior and perpetual issuance. This is the largest issuance by any Indian Investment Grade issuer since January 2019.

Airtel has priced $750 million of senior 10.25-year bonds at a yield after adding 187.5 basis points (bps) over the US Treasury, for an implied coupon of 3.25 per cent. 

"Simultaneously, Network i2i Limited, a wholly owned subsidiary of the Company priced $500 million in guaranteed subordinated perpetual 5.25 year bonds with a coupon of 3.975 per