Hong Kong, Oct 21: Indian mobile telephone operator Bharti Cellular Ltd is seeking to raise a $125 million, six-year loan, trade newspaper BasisPoint reported on Monday.
The deal, which is being guaranteed by parent Bharti Tele-Ventures Ltd, hit the market last week, said BasisPoint.

The transaction is being underwritten by arrangers ABN AMRO Bank, DBS Bank, Standard Chartered Bank and WestLB.

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"The margin is 160 basis points over Libor (London Interbank Offered Rate," BasisPoint said.

The company held a presentation for bankers in Singapore on October 18.

"Some bankers in attendance took comfort in the fact that the borrower intends to use the funds for first-generation equipment than to try to introduce more advanced technology to the Indian market prematurely," the paper said.

Bharti has a presence in 15 of the 22 cellular zones into which India's telecom sector is divided. Bureau Report