Bharti Airtel Raises $3 Billion for Fee Payment Due in a Week
- Wireless carrier owes government for airwaves and license
- Qualified institutional placement follows bond sale last week
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Bharti Airtel Ltd., an Indian wireless carrier, raised $3 billion from the sale of shares and bonds to help pay government fees falling due in about a week.
The New Delhi-based company, which was ordered by the nation’s top court to pay $3 billion in airwaves and license fees, raised $2 billion from a so-called qualified institutional placement, according to a statement on Wednesday. It also collected $1 billion from the issuance of convertible bonds.