LD BHARTI 2LST

For completing the deal Bharti paid USD 7.9 billion and
the balance USD 400 million from the total upfront payment
would be done in a few days on completion of certain
formalities, Mittal said.
The remaining USD 700 million would be paid after a year.
Bharti has also taken over USD 1.7 billion of Zain's debts as
on December 31, 2009, he said.
For the deal Bharti has raised debt from a consortium of
foreign banks and State Bank of India with the lead-arranger
and lead-advisor Standard Chartered Bank committing the
highest amount -- USD 1.3 billion, followed by Barclays at USD
900 million.
ANZ, BNP, Bank of America-Merrill Lynch, Credit Agricole
CIB, DBS, HSBC, Bank of Tokyo-Mitsubishi UFJ and Sumitomo
Mitsui Banking Corporation have chipped in USD 600 million
each.
Commenting on the debt position, the company said it has
raised loans at an extremely competitive rate of interest and
would have no problem in meeting its future investment plans.
Bharti paid over Rs 12,000 crore, the highest by any mobile
player, on May 31 to government for acquiring 3G spectrum in
13 circles. PTI PML
MYR


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