Bharti Airtel, a leading private sector telecom company, said Wednesday the company will raise funds to meet capital expenditure requirements. The company will issue USD denominated senior unsecured notes.
Tenor of senior unsecured notes is expected to be 10-years, the company said. It said the expected issue ratings are BBB- Stable (Fitch), BBB- Stable (S&P) and Baa3 Stable (Moody's).
Senior unsecured notes are expected to be listed on Singapore stock Exchange.
Shares of the company declined Rs 4.95, or 1.18%, to trade at Rs 413.00. Total volume of shares traded on the bourses today was lower by 69.57% to 1,283,148 compared with 22-day average volume of 4,216,885. (12.49 p.m., Wednesday)