Bharti Airtel shines as its arm prices dual currency issuance of Guaranteed Senior Notes

Bharti Airtel is currently trading at Rs. 323.55, up by 3.65 points or 1.14% from its previous closing of Rs. 319.90 on the BSE. The scrip opened at Rs. 324.70 and has touched a high and low of Rs. 325.05 and Rs. 320.60 respectively. So far 68,000 shares were traded on the counter. The BSE group 'A ' stock of face value Rs. 5 has touched a 52 week high of Rs. 373.50 on 01-Nov-2013 and a 52 week low of Rs. 274.50 on 11-Jun-2013. Last one week high and low of the scrip stood at Rs. 325.50 and Rs. 304.00 respectively. The current market cap of the company is Rs. 1,29,415.00 crore. The promoters holding in the company stood at 65.32%, while Institutions and Non-Institutions held 24.17% and 10.51% respectively. Bharti Airtel’s wholly-owned subsidiary Bharti Airtel International (Netherlands) B.V. (Bharti) has successfully priced a dual currency issuance of Guaranteed Senior Notes comprising of $ 1,000 million 5.350 % Notes due 2024 and Euro 750 million 3.375% Notes due 2021. The Notes carry an Investment Grade rating from Moody’s, Standard & Poor and Fitch. The Notes will be fully and unconditionally guaranteed by Bharti Airtel. Bharti will apply the net proceeds to refinance its existing debt. This refinancing exercise has significantly lengthened the average maturity profile of Bharti's debt. With this, the company has fully refinanced the original $ 9 billion acquisition facility and also taken care of all near term maturities. The success of the dual tranche Euro and USD bond offerings demonstrate the demand for quality Investment Grade Indian paper like Bharti Airtel. The Notes received considerable investor interest, witnessing a strong demand across high quality Institutional Investors, Banks and Insurance companies. Bharti Airtel is a leading integrated telecommunications company with operations in 20 countries across Asia and Africa. The company ranks amongst the top 5 mobile service providers globally in terms of subscribers.