New Delhi: Bharti Airtel, India's largest private telecom operator, on Wednesday said it has approached investors for issuance of 10-year US dollar bonds.
"Bharti Airtel has approached investors for issuance of debt instruments in the form of dollar-denominated Senior Unsecured Notes," it said in a filing to the BSE.
The notes are expected to be rated 'BBB-' (Fitch)/'BBB-' (S&P)/ 'Baa3' (Moody's), it added.
"The proceeds will be used for capital expenditure in compliance with end-use guidelines set forth in the Master Circular by RBI (Reserve Bank of India) and all laws and regulations of India applicable to the Company," it said.
It also said the expected tenure is 10 years and the likely listing would be on the Singapore Stock Exchange.
As of 11:31 a.m., shares in Bharti Airtel were trading nearly 1 per cent lower at Rs 413.85 apiece on the BSE.