“The bonds sale is expected to be launched either this weekend or early next week,” said one of the bankers involved in the exercise.
The Sunil Mittal-led telecom carrier will meet global fixed income investors on or after February 23 towards its stated plans to raise up to Rs 7,500 crore via bonds to build a war-chest even as India’s second-largest telco needs cash to buy spectrum in the upcoming 4G auction, invest in networks and also pay statutory dues, among other needs.
“The company will meet global fixed income investors on or after February 23, following which and subject to market conditions, it will take a final decision w.r.t. issuance of foreign currency bonds\/notes, and a deal may or may not follow,” Airtel<\/a> said in an exchange filing Monday.
But Airtel declined to respond to ET’s queries on the appointed bankers. Individual bankers could not be contacted immediately.
The overseas bonds are likely to be raised by Airtel’s Mauritius arm, Network i2i, and guaranteed by the telco.