Vodafone Idea in talks to avail loans worth $1.8 billion, says report

Indian telecom carrier Vodafone Idea is in talks with lenders to avail loans worth 150 billion rupees ($1.80 billion) over the next two years, Bloomberg News reported on Thursday, citing people familiar with the matter.

The company has reached out to state-run lenders State Bank of India (SBI), Bank of Baroda, Punjab National Bank and some privately-held banks, the report said.

Bloomberg News did not mention the names of the private lenders.

SBI may take the lead of a consortium of lenders and the funds could be disbursed in tranches, the report said, adding that discussions are continuing and the details could change.