Airtel Africa subsidiary to redeem $504.92m bonds before maturity

Airtel Africa has announced that its subsidiary, Bharti Airtel International (Netherlands) B.V., has elected to redeem all of its 5.125 percent guaranteed senior notes due 2023, amounting to $504,915,000, ahead of its maturity in March 2023.

The telecommunications company said in a statement that the bonds would be redeemed on March 7, 2022.

It said, “In addition to the outstanding principal, the redemption price will include settlement of all outstanding accrued interest up to the redemption date, plus the applicable premium in accordance with the terms of the notes.

“This early redemption will be made out of group cash reserves and aligns with the continuation of our pursuit of a reduction of external foreign currency debt at group level.”

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