News Karnataka
Sunday, February 05 2023
Business News

Airtel prepays Rs 8,815 cr to clear deferred liabilities for spectrum

Airtel prepays Rs 8,815 cr to clear deferred liabilities for spectrum
Photo Credit : IANS

New Delhi: Digital communications solutions provider Bharti Airtel on Friday said it has paid Rs 8,815 crore towards part prepayment of deferred liabilities pertaining to spectrum acquired in auction of year 2015.

Accordingly, the payment was made to the Department of Telecom, Government of India.

“The prepayment is for installments due in FY 2027 and FY 2028,” the company said in a statement.

“Over the last four months, Airtel has cleared INR 24,334 crores of its deferred spectrum liabilities much ahead of scheduled maturities.”

As per the statement, these liabilities carried an interest rate of 10 per cent and have been paid off through a combination of strong free cash generated by business, equity proceeds and significantly lower cost debt of similar tenor.

“Airtel continues to focus on financial flexibility via its capital structure, including optimising cost of financing and capitalising on all opportunities of significant interest saves like this prepayment.”

Share this:
MANY DROPS MAKE AN OCEAN
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Leave a Reply

Your email address will not be published. Required fields are marked *

Rohan City Corp
Rohan City Corp

Find the best odds at 10Cric and IPL Betting 2023! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp