Bharti Airtel Ltd. introduced on Tuesday that the corporate has redeemed bonds aggregating to $1 billion on Tuesday.
Earlier on June 3, Airtel approached the worldwide debt market to boost as much as $1 billion in a 10-year bond sale programme. The corporate’s $1-billion Reg S bond was out there.
“That is in reference to the aforementioned bonds issued by the corporate vide providing memorandum dated June 03, 2015 (providing memorandum), due for maturity on June 10, 2025 until beforehand repurchased, cancelled or redeemed,” in response to an change submitting.
The corporate knowledgeable that it absolutely redeemed the bonds aggregating to $1 billion on June 10 in accordance with the phrases and situations as prescribed within the providing memorandum, it added.
Accordingly, following the redemption, the aforementioned redeemed bonds have been cancelled and shall be delisted from the Singapore Alternate Ltd.
In easy phrases, bond redemption means the issuer of a bond pays again the principal quantity to the bondholder both when the bond reaches its maturity date or earlier if the bond is callable.
