Airtel Prepays Rs 5,985 Cr To DoT

New Delhi: Bharti Airtel and subsidiary Bharti Hexacom have prepaid an additional Rs5,985 crore of high-cost spectrum liabilities to the government, the telco said on Wednesday. Airtel’s subsidiary Network i2i has also voluntarily called and redeemed $1 billion in ‘perpetual debt securities’.

“Bharti Airtel and its subsidiary Bharti Hexacom have prepaid additional Rs5,985 crore to the Department of Telecom (DoT) thereby fully prepaying the high-cost interest liabilities of 8.65 per cent pertaining to the 2024 auctions,” the Sunil Mittal-led company said. Network i2i Ltd has also voluntarily called and redeemed $1 billion in ‘Perpetual Notes’.

“Underscoring its commitment to financial prudence, operational efficiency, and its strong capital position, Airtel continues to prepay its high-cost spectrum liabilities, lowering its debt and cost of debt,” it said.