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Good response to Bharti's FCCB

NEW DELHI, APRIL 7. Bharti Tele-Ventures today said its $1 billion foreign currency convertible bond offering, first of its kind by a telecom company in the country, evoked an overwhelming response. "The issue generated demand exceeding $1 billion within two hours of launch," the company said. The five-year bond carries a zero coupon with a yield to maturity of 2.25 per cent by way of redemption premium.

The proceeds of the FCCB would be utilised for the capital expenditure planned by Bharti during the year.

— UNI

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