Bharti Airtel (“Airtel”), one of India’s leading telecommunications service providers, today said that it has prepaid Rs. 8,024 crores to the Department of Telecom (Government of India) towards part prepayment of deferred liabilities pertaining to spectrum acquired in auction of year 2015. The said instalments had an interest rate of 10% and have been prepaid by Airtel, leveraging much lower cost financing available to it. Airtel continues to enjoy access to a well-diversified sources of capital / financing, allowing it to have enhanced financial flexibility in its capital structure including optimised cost of financing using all opportunities for significant interest savings, like this prepayment.
Airtel Prepays Rs. 8,024 Crores To Clear High Cost Deferred Liabilities For Spectrum Acquired In 2015
New Delhi, July 31, 2023: Bharti Airtel (“Airtel”), one of India’s leading telecommunications service providers, today said that it has prepaid Rs. 8,024 crores to the Department of Telecom (Government of India) towards part prepayment of deferred liabilities pertaining to spectrum acquired in auction of year 2015.
The said instalments had an interest rate of 10% and have been prepaid by Airtel, leveraging much lower cost financing available to it. Airtel continues to enjoy access to a well-diversified sources of capital / financing, allowing it to have enhanced financial flexibility in its capital structure including optimised cost of financing using all opportunities for significant interest savings, like this prepayment.
About Bharti Airtel Limited
Headquartered in India, Airtel is a global communications solutions provider with over 500 Mn customers in 17 countries across South Asia and Africa. The company ranks amongst the top three mobile operators globally and its networks cover over two billion people. Airtel is India’s largest integrated communications solutions provider and the second largest mobile operator in Africa. Airtel’s retail portfolio includes high-speed 4G/5G mobile broadband, Airtel Xstream Fiber that promises speeds up to 1 Gbps with convergence across linear and on-demand entertainment, streaming services spanning music and video, digital payments and financial services. For enterprise customers, Airtel offers a gamut of solutions that includes secure connectivity, cloud and data centre services, cyber security, IoT, Ad Tech and CPaaS (Airtel IQ). For more details visit www.airtel.com
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