PIMCO, Goldman Sachs, Fidelity, BlackRock among subscribers to Airtel fund raise via bonds

Kolkata: Marquee global investors and bond funds, including Pacific Investment Management Co (PIMCO), Goldman Sachs Asset Management, Fidelity, BlackRock, TIAA, Loomis Sayles, Nan Shan Life, Ashmore Investment and Amundi Asset Management are believed to have participated in Bharti Airtel’s $1.25 billion (Rs 9,000 crore approx) overseas fundraise via two sets of global papers – a mix of senior and perpetual bonds.

The Sunil Mittal-led telco said it has priced $750 million worth of senior 10.25-year bonds at a yield of 187.5 basis points for an implied coupon of 3.250%. Network i2i Ltd, Airtel’s wholly-owned Mauritius arm, in turn, has priced $500 million of guaranteed subordinated perpetual 5.25-year bonds at a coupon of 3.975%.