Bharti airtel Prepays An Additional Rs 5,985 Crore Of High-Value Spectrum Dues To Dot.
New Delhi: Bharti airtel and subsidiary Bharti Hexacom have paid as you go a further Rs 5,985 crore of high-fee spectrum liabilities to the government, the telco said on Wednesday.
Airtel's subsidiary network, i2i, has also voluntarily referred to and redeemed $1 billion in 'perpetual debt securities.'.
"Bharti airtel and its subsidiary Bharti Hexacom have paid an additional Rs 5,985 crore to the branch of Telecom, thereby fully prepaying the high-value interest liabilities of 8.65 percent relating to the 2024 auctions," the sunil Mittal-led organization said.
Network i2i Ltd has additionally voluntarily called and redeemed $1 billion in 'Perpetual Notes.'
Bharti airtel transfers sixty-nine. 94% in airtel Payments bank to airtel Ltd.
"Underscoring its commitment to monetary prudence, operational efficiency, and its sturdy capital position, airtel continues to prepay its excessive-cost spectrum liabilities, lowering its debt and cost of debt," it stated.
Airtel has now paid Rs 25,981 crore of high-cost spectrum liabilities for the contemporary 2025 financial year and has cumulatively prepaid spectrum liabilities of Rs 66,665 crore as of date.
The common interest charge at the cumulative liabilities prepaid turned into about 9.74 percent.
The telco had in advance completely paid as you go liabilities that had hobby quotes of 10 in keeping with cent, nine seventy-five in keeping with cent, and 9.3 per cent. These prepayments were made about seven years ahead in their average residual maturities.
The prepayments have resulted in airtel clearing Rs 1,16,405 crore of scheduled installments that would have in any other case been payable on their respective dates over the original tenure of the liabilities.
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"Consequent to these bills, airtel has additionally diminished its cost of debt on spectrum liabilities to a mean of approximately 7.22 in keeping with the residual Rs 52,000 crore of spectrum liabilities (except for AGR liabilities)," according to the enterprise.
The residual spectrum liabilities bring a protracted repayment profile payable in annual installments until FY 2042.
Additionally, Airtel's subsidiary network, i2i Restricted, has voluntarily exercised a name option and redeemed USD 1 billion in USD perpetual notes issued in FY 2020.
"Perpetual notes in any other case had no shrunk adulthood and carried an interest fee of 5.65 percent. post the redemption of USD 1 billion in perpetual notes, airtel could have approximately USD 479 million of perpetual notes superb, which had been issued all through FY2021. These notes can be called in FY2026," airtel said.
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