The Indian company Bharti Telecom plans to raise 45 billion rupees ($553.10 million) through bonds maturing in two and three years, according to three merchant bankers.
There is an annual coupon rate of 8.60% for two-year bonds and 8.70% for three-year bonds to be paid by the telecom operator, which holds a stake in Bharti Airtel.
A two-year bond will raise 13 billion rupees, while a three-year note will raise 32 billion rupees. Bankers and investors have been invited to submit bids for the same on Friday.
The bonds are rated AA+ by CRISIL and the issue will close for subscription next week.
Earlier this month, the company raised an aggregate of 70 billion rupees through bonds maturing in two and three years.
