Bharti Telecom issues multiple tenor bonds worth ₹4,500 cr

Bharti Telecom has accepted bids worth an aggregate of ₹4,500 crore ($554.15 million) for bonds maturing in two and three years, three merchant bankers said on Friday.

The telecom operator, which holds a stake in Bharti Airtel, will pay an annual coupon of 8.60% on two-year bonds and 8.70% on three-year papers, the bankers said.

The company has accepted bids worth ₹1,300 crore for two-year bonds and ₹3,200 crore for three-year notes, after inviting bids earlier in the day.

The bonds are rated AA+ by CRISIL and the issue will close for subscription next week.

In November, the company had raised an aggregate of ₹ 7,000 crore through bonds maturing in two years and three years.