Bharti picks loan banks, squeezes price
India’s Bharti Airtel is close to mandating eight lenders on a $5bn syndicated loan, raising hopes for its merger with South African mobile phone company MTN and highlighting the improvement in Asia’s debt markets.
State Bank of India and Kotak Mahindra are set to lead a rupee tranche worth $1.5bn, while ANZ, Barclays Capital, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Citi, DBS, State Bank of India and Standard Chartered are to lead the $3.5bn dollar portion.
The banks have not signed mandate
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