Voda Idea gets offer for up to $2 billion line of credit, but with conditions

Mumbai | Kolkata: Vodafone Idea NSE 2.99 % (Vi) has got an initial proposal for up to $2 billion (₹15,000 crore) line of credit from a consortium led by US investment firm Oak Hill Advisors, bankers and industry executives aware of the matter said.

Sixth Street, Twin Point Capital and Varde Partners are among other global investors in the consortium that has given a non-binding term sheet to Vi, they said. The proposed funding model will likely be a blend of bonds and warrants that will give the consortium members an option to convert part of the loan to shares of the company at a later stage, they said.