Airtel looks at $1-billion fundraise in move to repay spectrum dues

Kolkata/Mumbai: Bharti Airtel is exploring around a $1-billion (approx. Rs 8,330 crore) fundraise, including a potential offshore bonds issue, to prepay a bulk of its remaining dues relating to spectrum bought in the 2015 auction.

India’s second-largest telco is likely to engage with top global banks including Barclays and Citi later this month to decide on the preferred fundraising mode and pricing, people aware of the matter said.