Telecommunications
Airtel Redeems $300 Million of its $1 Billion Guaranteed Senior Notes
Airtel on Wednesday announced that its subsidiary, Bharti Airtel International (Netherlands) B.V., has launched a cash tender offer to redeem about $300 million of its $1 billion of 5.35% Guaranteed Senior Notes due in 2024.
According to the telecommunications giant, the tender offer will expire on 19 July 2022, unless amended or extended by BAIN at its sole discretion. However, there is an early tender deadline of 5 July 2022 for noteholders wishing to tender their notes for preferential early tender consideration.
In a statement obtained by Investors King, Airtel said “All Notes accepted for purchase will be cancelled ahead of their maturity in May 2024. BAIN reserves the right at its sole discretion to amend or waive any of the terms of the tender offer.
“A further announcement will be made following completion of the tender offer. This early redemption will be made out of Group cash reserves and aligns with the continuation of our pursuit of a reduction of external foreign currency debt at Group level.”