Sources said that the fundraising is likely to be in range of $750 million to $1 billion, and the final figure will be arrived at based on the market response.
Meanwhile, S&P Global Ratings has said it expects Bharti Airtel's leverage to remain elevated over the next six to nine months, but improve gradually due to reduced capital spending and increasing stability in its India mobile operations.
"We assess Network i2i Ltd's proposed USD 1 billion subordinated perpetual securities (PERPS) as having intermediate equity content. The PERPS are guaranteed by Bharti. We estimate the issuance will improve the India-based telecoms operator's FFO-to-debt ratio (funds from operations to debt ratio) by about 50 basis points," S&P Global Ratings said.
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