Airtel prepays Rs.8,024 crores to clear high cost deferred liabilities

Hyderabad: Bharti Airtel (“Airtel”), one of India’s leading telecommunications service providers, today said that it has prepaid Rs. 8,024 crores to the Department of Telecom (Government of India) towards part prepayment of deferred liabilities pertaining to spectrum acquired in auction of year 2015.

The said instalments had an interest rate of 10 per cent and have been prepaid by Airtel, leveraging much lower cost financing available to it. Airtel continues to enjoy access to a well-diversified sources of capital / financing, allowing it to have enhanced financial flexibility in its capital structure including optimised cost of financing using all opportunities for significant interest savings, like this prepayment.