Airtel prepays Rs 8,815 crore in the direction of deferred liabilities for 2015 spectrum

Telecom operator Bharti Airtel on Friday mentioned it has paid Rs 8,815 crore to the federal government in the direction of half prepayment of deferred liabilities pertaining to spectrum acquired within the 2015 public sale.

The prepayment is for instalments due in FY2027 and FY2028, the Sunil Mittal-led telco mentioned in an announcement.

“Airtel prepays Rs 8,815 crore to clear deferred liabilities for spectrum acquired in 2015,” the corporate mentioned.

Over the final 4 months, Airtel has cleared Rs 24,334 crore of its deferred spectrum liabilities forward of schedule.

These liabilities carried an rate of interest of 10 per cent and have been paid off via a mix of free money generated by the enterprise, fairness proceeds, and considerably decrease value debt of an identical tenor.

Airtel mentioned it continues to give attention to monetary flexibility by way of its capital construction, together with optimising the price of financing and capitalising on all alternatives of great curiosity saves, like the most recent prepayment.