Bharti Airtel raises $1 billion through bond sale (India)

Bharti Airtel has raised $1 billion by selling bonds in the international market through its subsidiary Bharti Airtel International (Netherlands). The 10-year unsecured bonds, which were oversubscribed 9.5 times, have a coupon rate of 5.13 per cent per annum. The bookrunners and the lead managers for the bonds sale were Barclays, BNP, Citigroup, Deutsche Bank, HSBC, Standard Chartered and UBS. The company will use the proceeds from the sale to reduce its debt, which stood at $13.6 billion as of December 2012.

Tata Communications to raise Rs 25 billion

Tata Communications is looking to raise over Rs 25 billion by selling its land properties in Delhi, Mumbai and Chennai. The company will use the proceeds from the sale to repay a part of its debt, which stood at $1.55 billion as of December 2012. Its 1.5 acre property in Chennai has reportedly been sold to VGN Developers for Rs 1.95 billion through an e-auction. The company selected property consultancy firms Jones Lang LaSalle India and Cushman & Wakefield to facilitate the sale of these properties, which it had acquired following the purchase of Videsh Sanchar Nigam Limited in 2002.

Tata Communications Netherlands raises Rs 22 million through bond issue

Tata Communications Netherlands has issued bonds worth Rs 22 billion in the Singapore bond market. The bonds, which are guaranteed by the parent company, Tata Communications, have a coupon rate of 4.25 per cent and a three-year term. About 63 per cent of the bonds have been subscribed to by institutional investors while the remaining have been acquired by high net worth individuals. The Royal Bank of Scotland, DBS and Standard Chartered Bank were the lead managers for the issue.

Reliance Jio Infocomm set to acquire stake in Reliance Infratel

Reliance Jio Infocomm (the erstwhile Infotel Broadband) is planning to acquire a 15-25 per cent stake in Reliance Infratel for Rs 28 billion-Rs 53 billion. The company is planning to lease out Infratel’s 50,000 towers for 10 years for Rs 85 billion-Rs 100 billion. Earlier, it had invited bids from tower companies for leasing out around 26,000 towers during the initial phase of 4G service launch.

Qtel increases stake in Tunisiana to 90 per cent (Qatar)

Qatar Telecom (Qtel) has acquired the Tunisian government’s 15 per cent stake in Tunisiana for $360 million. With this, Qtel’s stake in Tunisiana has increased to 90 per cent, while the remaining share is held by the government. The Tunisian government is likely to launch an IPO in the near future.

SingTel sells 30 per cent stake in Warid Telecom (Singapore)

Singapore Telecommunications (SingTel) has sold its 30 per cent stake in Pakistan-based Warid Telecom to the Abu Dhabi Group for $150 million. The group now holds 100 per cent stake in Warid Telecom. As per the deal, SingTel will receive 7.5 per cent of the proceeds from any future stake sale in Warid Telecom. The deal has absolved SingTel of its previous guarantees of $90 million and an equity undertaking of $51 million. SingTel had acquired a 30 per cent stake in Warid Telecom for $758 million in 2007.

Axiata merges with Latelz (Cambodia)

Cambodia-based Hello Axiata has merged its operations with Latelz, which provides telecom services in the country under the Smart brand. The new entity is known as Latelz Company Limited. The move follows the acquisition of Latelz from Timeturns Holdings for $155 million. The transaction was financed through internal accruals as well as debt.

Citic Telecom to acquire 79 per cent stake in CTM (Hong Kong)

Hong Kong-based Citic Telecom International Holdings is likely to acquire a 79 per cent stake in Companhia de Telecomunicacoes de Macau (CTM) for $1.16 billion. Citic would purchase 51 per cent stake from the UK’s Cable & Wireless Communications for $747.9 million and 28 per cent stake from Portugal Telecom for $411.6 million. Following the transaction, Citic’s stake in CTM would increase to 99 per cent, while the remaining share would be held by Macau Post. The deal is subject to approval from the Macau and Chinese governments, and is expected to take six to nine months. In addition, Portugal Telecom and Citic Telecom have signed a strategic alliance agreement for sharing of expertise.

Kcell raises $525 million through IPO (Kazakhstan)

Kazakhstan-based telecom operator Kcell has raised $525 million by listing 25 per cent of its shares on the London Stock Exchange, thus valuing the company at $2.1 billion. Kcell offered 50 million shares in the price range of $10.5-$13 per share. Earlier, Sweden’s TeliaSonera had acquired a 49 per cent stake in the telecom operator from the state-owned Kazakhtelecom for $1.52 billion, thereby increasing its holding in the company to about 71 per cent. Following the IPO, TeliaSonera’s stake in Kcell has come down to 61.9 per cent.