Airtel ropes in more than half-a-dozen investment banks to raise over $1 billion via overseas bonds

Bharti Airtel is believed to have appointed more than half-a-dozen investment banks, including Bank of America, Barclays, Citigroup, JP Morgan, HSBC, and Standard Chartered Bank, who will help the telco raise a shade over $1 billion (Rs 7,500 crore) via overseas bonds.

“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.