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| Airtel pre-pays 15, 519 crores to clear deferred liabilities | | | Early Times Report
JAMMU, Dec 17: Bharti Airtel (“Airtel”), India’s premier digital communications solutions provider, today said that it has paid Rs. 15,519 crores to the Department of Telecom (Government of India) towards prepayment of the entire deferred liabilities pertaining to spectrum acquired in auction of year 2014. The company had acquired 128.4 MHz spectrum (including Telenor spectrum) for a consideration of INR 19,051 crores in the 2014 auction.
These liabilities were due in annual installments from FY 2026-2027 to 2031-2032 and carried an interest rate of 10% (the highest rate amongst the deferred liabilities and borrowings) and an average residual life of 7+ years. The company estimates that the prepayment will likely result in interest cost savings of at least INR 3,400 crores over the residual life for fully substituted capital. |
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