Bharti Airtel raised a $2 billion dual-tranche multi-currency offering on Monday, buoyed by improved market sentiment as concerns about the national elections dwindle.
The bond which is the first multi-tranche dollar-euro note from an Indian corporate consists of a $1 billion 10-year note and a 750 million $1 billion seven-year offering, according to a term sheet seen by FinanceAsia.
India’s domestic equity and credit market conditions, which improved towards the end of last week, helped provide an ideal window for the transaction to be marketed, a source close to the transaction says.
“We saw a very strong rally towards the end of...
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