Sunil Mittal’s Bharti Telecom to raise Rs 8,500 crore via bond market

Bharti Telecom Ltd., owned by billionaire Sunil Bharti Mittal, is planning to raise about Rs 8,500 crore ($1.01 billion) in the local-currency bond market, according to people familiar with the matter.

The company may seek bids for the notes due in three to 10 years next week, with the longer end bonds likely offering a coupon of 9%, they said, asking not to be named as the information is not public. If successful, it will be Bharti Telecom’s largest-ever rupee issuance, according to data compiled by Bloomberg.