Network i2i Limited’s $500 Million Perpetual Securities

Appleby Mauritius acted as counsel for Mauritius-based Network i2i Limited.

Network i2i Limited, a wholly owned subsidiary of Bharti Airtel Limited, has issued USD 500,000,000 3.975% subordinated perpetual securities guaranteed by the Parent Guarantor, a leading provider of telecommunication services with operations in 18 countries across Asia and Africa and which is concurrently conducting a separate offering of an aggregate principal amount of USD 750,000,000 3.25% senior notes due 2031.

The gross proceeds from the issuance of the Perpetual Securities will be used for capital expenditure, repayment of existing indebtedness, including shareholder loans and/or any other purpose, each as permitted under applicable laws and regulations from time to time.

The Perpetual Securities were listed on the Singapore Exchange Securities Trading Limited on 3 March 2021.

Barclays Bank PLC, BNP Paribas, Citigroup Global Markets Inc., The HongKong and Shanghai Banking Corporation Limited, J.P. Morgan Securities plc, Merrily Lynch (Singapore) Pte. Ltd. and Standard Chartered Bank were the managers to the issue and DBS Bank Ltd. and SMBC Nikko Capital Markets Limited were the co-managers.  Citicorp International Limited was the trustee and Citibank, N.A., London Branch was the principal paying agent, transfer agent calculation agent and registrar.

Network i2i Limited operates telecommunication facilities and provides services utilizing a network of submarine cable systems and associated terrestrial capacity.

The Appleby Mauritius team was led by Group Managing Partner Malcolm Moller (Picture) and Senior Associate Farzanah Nawool.

 

 

Involved fees earner: Malcolm Moller – Appleby; Farzanah Nawool – Appleby;

Law Firms: Appleby;

Clients: Network i2i Limited;

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