Bharti Airtel Ltd.
-13.55 (-0.68%) Moody’s assigns Baa3 rating to Bharti Airtel International’s proposed CHF notes
Date: 14-03-2014Global rating agency, Moody’s Investors Service has assigned a Baa3 rating to the proposed senior, unsecured Swiss Franc denominated notes issued by Bharti Airtel International (Netherlands) BV. The notes are issued under the irrevocable and unconditional guarantee of Bharti Airtel.
Bharti Airtel International (Netherlands) B.V., wholly-owned subsidiary of Bharti Airtel 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 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.