“Pursuant to the settlement of the tender offer, USD 995,085,000 in principal amount of the Notes were purchased and redeemed by the company on November 27, 2018 and cancelled pursuant to the terms and conditions of the Notes. USD 504,915,000 in principal amount of the Notes remain outstanding,” mentioned a submitting by Bharti Airtel.
Earlier this month, Bharti Airtel had introduced it’ll pre-pay USD 1.5 billion debt with its subsidiary Bharti Airtel International (Netherlands), utilizing the proceeds it received from six world entities investing in its Africa unit.
Accordingly, Bharti Airtel International (Netherlands) B V commenced money buy of USD 1.5 billion, 5.125 per cent Guaranteed Senior Notes which have been due in 2023.
“Bharti Airtel International…today announced the settlement of its previously announced tender offer to purchase for cash (the “Tender Offer”) any and all of its outstanding US$1,500,000,000 5.125 per cent Guaranteed Senior Notes due 2023,” it mentioned.
It added that the “payment of the consideration plus accrued interest for all Notes validly tendered (and not validly withdrawn) and accepted for purchase by the company has been made on November 27, 2018.”
Bharti Airtel International’s (Netherlands) dad or mum Airtel Africa Ltd, a UK integrated subsidiary of Bharti .Airtel Limited, not too long ago made a profitable major fairness issuance of USD 1.25 billion to 6 main world buyers, together with Warburg Pincus, Temasek, Singtel, SoftBank Group and others.
The firm had mentioned it could utilise the proceeds of the fairness issuance and the money out there to it to cut back its present debt by providing to buy ‘any and all’ of the Notes pursuant to the tender offer.