-13.55 (-0.68%) Bharti Airtel’s - wholly-owned subsidiary - Bharti Airtel International (Netherlands) B.V., has successfully priced CHF 350 Million 3% Guaranteed Senior Notes due 31-March-2020. The Notes will be fully and unconditionally guaranteed by Bharti Airtel. Bharti will apply the net proceeds to refinance its existing debt.
The Notes carry an Investment Grade rating from Moody’s, Standard &Poor and Fitch. BNP, DB and UBS acted as Joint Lead Managers on the offering. The Notes have been priced at 230 basis points over 6 year CHF Mid Swaps with a fixed coupon of 3% per annum to yield 2.98%.
The Notes received considerable investor interest, witnessing a strong and balanced demand across high quality Institutional Investors and Swiss Private Banks, highlighting the broad support base that the Bharti credit has attracted.