Bharti Airtel, the country’s leading telecommunications service provider, on Monday, July 31, said it has prepaid Rs 8,024 crore to the Department of Telecommunication towards part prepayment of deferred liabilities pertaining to spectrum acquired in an auction of the year 2015.
“The said instalments had an interest rate of 10 per cent and have been prepaid by Airtel, leveraging much lower cost financing available to it,” Airtel in a statement.
It added that the company continues to enjoy access to a well-diversified source of capital/ financing, allowing it to have enhanced financial flexibility in its capital structure including optimised cost of financing using all opportunities for significant interest savings, like this prepayment.
The country’s second-largest telecom provider rolled out 5G services in India in October 2022.
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