Bharti Telecom is raising ₹8,000 crore through issue of non-convertible debentures, the bids for which will open on December 1, according to the term sheet.
The debentures will be issued in three series - Series 1 for ₹3,000 crore with a coupon of 8.9 per cent and tenor of two years, Series 2 for ₹3,000 crore with a coupon of 8.95 per cent and tenor of 3 years and Series 3 for ₹2,000 crore with a coupon of 9 per cent and tenor of five years.
This is the largest rupee bond issuance by Sunil Mittal-owned Bharti Telecom, which is the holding company of telecom services provider Bharti Airtel.
The anchor investors are mostly mutual funds and insurance companies such as Axis Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund, ICICI Prudential Mutual Fund, Nippon India Mutual Fund, Aditya Birla Sun Life Insurance Company, HDFC Life Insurance Company and ICICI Prudential Life Insurance Company.
The lead arrangers are Axis Bank and Barclays Bank.