Bharti Airtel pre-pays ₹15, 519 crore to clear all deferred liabilities for spectrum acquired in 2014
Telecom supplier Bharti Airtel, right this moment stated that it has paid Rs15,519 crores to the Division of Telecom (Authorities of India) in direction of prepayment of the complete deferred liabilities pertaining to spectrum acquired in public sale of 12 months 2014.
The corporate had acquired 128.4 MHz spectrum (together with Telenor spectrum) for consideration of ₹19,051 crores within the 2014 public sale.
These liabilities had been due in annual instalments from FY 2026-2027 to 2031-2032 and carried an rate of interest of 10% (the very best fee amongst the deferred liabilities and borrowings) and a mean residual life of seven+ years.
The corporate estimates that the prepayment will seemingly lead to curiosity value financial savings of not less than ₹3,400 crores over the residual life for totally substituted capital.
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“Airtel continues to train flexibilities in direction of a stronger and environment friendly capital construction. The corporate welcomes the Division of Telecom’s choice giving the business the pliability to prepay their deferred liabilities anytime at their NPV foundation the rates of interest specified for the respective public sale. This permits the licensees to effectively plan and use their money flows,” the corporate stated in a press release.