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Airtel assures financing deals worth USD 2.5 billion from Chinese banks

Bharti Airtel has got financing commitments of up to $2.5 billion from the Commercial Bank of China and China Development Bank and Industrial and the average maturity will be about nine years.

The Prime Minister Narendra Modi who is on an official visit to China was present when the company signed the term sheets for the financing options.

“China Development Bank has committed financing of up to $2 billion with an average maturity of about nine years,” the company said.

This is the “single-largest bilateral commitment by China Development Bank to any telecom operator globally and the largest bilateral commitment to a private Indian company… Industrial and Commercial Bank of China has committed $500 million with an average life of about nine years,” it added.

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