Aircel to get $1.1-billion loan from six international banks

Follow Us

The telecom company, owned by Malaysia's Maxis and the Reddys of Apollo Hospitals, Aircel will raise nearly $1.1 billion from a clutch of six international banks. The company will get money from six international banks like China Development Bank (CDB), owned by the Chinese government, Nordic Investment Bank and Swedbank AB, according to a media report.The company will use this money to refinance its existing debt.

aircel-logo




Chennai-based Aircel has permits to operate 2G services in 22 telecom circles in the country, 3G in 13 service areas and broadband wireless services, and 4G, in eight circles. It hasn't started any 4G operations commercially yet.

As per industry estimates, the company's total debt has shot up to more than Rs. 24,000 crore primarily due to a hefty payout of nearly Rs. 10,000 crore for 3G and broadband wireless access (BWA) spectrum in the 2010 auctions and for expanding operations in 2G and 3G over the years.

In addition, the telecom company is raising another Rs. 14,000 crore from 12 Indian banks, including State Bank of India, Canara Bank, L&T Infrastructure Finance Co Ltd., Syndicate Bank and Bank of Baroda.

Reported By

Telecom Analyst

Passionately following the Indian #Telecom Industry for over a decade from Business, Consumer and a Technical perspective. My primary focus area is Consumer & Digital Experience.

Recent Comments

Faraz :

Does Bharti Hexacom provide Airtel 5G services in N.E and Rajasthan Or Both are offering 5G seperately ? Who bought…

Bharti Hexacom IPO Set for April 3, TCIL to Sell…

Faraz :

Nice.. & BSNL 60 Mbps is even perfect plan for many if there are more than 5 devices connected. Many…

BSNL 60 Mbps Plan is Likely One of the Best…

Faraz :

Budget phones have degraded more than any other budget phones since pandemic. They are still selling some craps like Helio…

POCO C61 to Launch on March 26, 2024

shivraj roy :

i feel Vi has improved than what it was in 2022 i usually get around 8-10mbps in very heavily dense…

5G Users Consuming 3.6 Times More Data than 4G Users…

biswadeepmondal :

JioAir Fiber is working very well in KPA & HLR. Sadly they don't have any data only plan.

REP: Airtel Expands Network Footprint in Bankura District of West…

Load More
Subscribe
Notify of
2 Comments
newest
oldest most voted
Inline Feedbacks
View all comments