Bharti Airtel prepays Rs 8,024 crore of deferred spectrum liabilities

Bharti Airtel has prepaid Rs. 8,024 crore to the department of telecom (DoT) towards part prepayment of deferred liabilities. It is pertaining to spectrum acquired during auction for the year 2015, the company said in a stock exchange filing on Monday.

The instalments had an interest rate of 10 per cent and have been prepaid by Airtel, leveraging much lower cost financing available to it, the company said.

Deferred spectrum liabilities are dues owed by telecom operators to the government for airwaves bought in the previous years. These are paid in instalments.