ওপেক বিশ্বব্যাপী তেলের চাহিদা বৃদ্ধিকে কমিয়ে দিয়েছে উত্পাদন কেটে দেওয়ার উদ্বেগ – লাইভমিন্ট
ওপেক বিশ্বব্যাপী তেলের চাহিদা বৃদ্ধিকে কমিয়ে দিয়েছে উত্পাদন কেটে দেওয়ার উদ্বেগ – লাইভমিন্ট
February 12, 2020
বৃহস্পতিবারের জন্য ট্রেড সেটআপ: বেল খোলার আগে 15 টি বিষয় জানতে হবে – Moneycontrol.com
বৃহস্পতিবারের জন্য ট্রেড সেটআপ: বেল খোলার আগে 15 টি বিষয় জানতে হবে – Moneycontrol.com
February 12, 2020
চিরস্থায়ী বন্ড – মানি কন্ট্রোলের মাধ্যমে অতিরিক্ত $ 250 মিলিয়ন বাড়ানোর জন্য ভারতী এয়ারটেলের সহায়ক সংস্থা

Translating…

Bharti Airtel on Wednesday said its wholly-owned subsidiary Network i2i plans to raise funds up to $250 million (approximately Rs 1,780 crore) through perpetual bonds.

This amount will be in addition to existing securities of $750 million (around Rs 5,343 crore) that the company has raised recently.

Network i2i Ltd, a Mauritius-based wholly-owned subsidiary of the company, through joint book runners and joint lead managers has approached investors for the proposed additional issuance, the company said in a regulatory filing.

The “proposed issuance of dollar denominated fixed rate, unsecured, guaranteed perpetual securities by subsidiary company” pegged the issue size at $250 million, in addition to existing securities of $750 million.

The company had earlier said that the proceeds from the issue will be utilised for pruning debt of Bharti Airtel.

Fitch Ratings has said Bharti Airtel’s proposed tap issuance of perpetual notes issued via its wholly owned subsidiary, Network i2i Limited, will not affect the ”BB’/RWN’ rating on the notes.

“The proposed tap on the perpetual notes will share the same terms and conditions and constitute a single class of debt securities with the perpetual notes issued in October 2019 for all purposes under the trust deed,” Fitch Ratings said in a statement.

The proposed tap on the perpetual notes will benefit from a subordinated guarantee from Bharti, it added.

It is pertinent to mention that the Supreme Court, in October last year, had upheld the government’s position on including revenue from non-core businesses in calculating the annual Adjusted Gross Revenue (AGR) of telecom companies, a share of which is paid as licence and spectrum fee to the exchequer.

Bharti Airtel’s liabilities added up to nearly Rs 35,586 crore, including licence fee and spectrum usage charge dues.

In all, as many as 15 entities owe the government Rs 1.47 lakh crore — Rs 92,642 crore in unpaid licence fee and another Rs 55,054 crore in outstanding spectrum usage charges.

Vodafone Idea, which is staring at unpaid statutory dues of Rs 53,038 crore, including Rs 24,729 crore of spectrum dues and Rs 28,309 crore in licence fee, has already warned of shutdown if no relief is given.

Most of the remaining liability is with state-owned BSNL/MTNL and some of the shut/bankrupt telecom companies.

Bharti Airtel, Vodafone Idea, and Tata Teleservices have meanwhile jointly filed a modification application in the Supreme Court seeking more time to pay statutory dues. The plea came after SC dismissed review petition of telecom companies on AGR dues.

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