Vi gets conditional offer for up to $2 billion line of credit: Report

Telecom major Vodafone Idea has received an initial proposal for up to Rs 15,000 crore ($2 billion) line of credit from a consortium led by US investment firm Oak Hill Advisors, sources in the know told Economic Times. However, the offer comes with conditions.

Sources told the publication that the consortium gave a non-binding term sheet to the telecom operator.

Sixth Street, Twin Point Capital and Varde Partners were the other global investors in the consortium, the report cited.

The proposed bid will likely be a mix of bonds and warrants, allowing the consortium to convert part of the loan given to the telecom to shares, the publication reported.