Quarterly Result26 Mar 2025, 08:00 pm
Bharti Airtel Prepays Rs. 5,985 Crores of High-Cost Spectrum Liabilities, Redeems $1 Billion in Perpetual Debt
AI Summary
Bharti Airtel Ltd. and its subsidiary Bharti Hexacom Ltd. have prepaid additional Rs. 5,985 crores to the Department of Telecom, fully prepaying the high-cost interest liabilities of 8.65% pertaining to the 2024 auctions. Airtel's subsidiary Network i2i Ltd. has also voluntarily called and redeemed $1 billion in Perpetual Notes. These prepayments are part of Airtel's commitment to financial prudence, operational efficiency, and its strong capital position. The average interest rate on the cumulative liabilities prepaid was approximately 9.74%.
Key Highlights
- Bharti Airtel prepays Rs. 5,985 crores of high-cost spectrum liabilities
- Fully prepaid high-cost interest liabilities of 8.65% pertaining to the 2024 auctions
- Network i2i Ltd. voluntarily redeems $1 billion in Perpetual Notes
- Prepayments made approximately 7 years ahead of average residual maturities
- Airtel lowers its cost of debt on spectrum liabilities to an average of approximately 7.22%