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Axon, Milbank, A&O for Bharti Airtel maiden $1bn bond

Allen & Overy (A&O) acted for Bharti Airtel, which issued bonds for the first time ever in a heavily oversubscribed offer for $1bn. Axon Partners and Milbank Tweed Hadley & McCloy advised the underwriters.

The company’s Dutch subsidiary Bharti Airtel International issued the 10-year unsecured notes, which were guaranteed by the Indian entity, with a coupon rate of 5.125 per cent. [WSJ]

A&O Hong Kong-based registered foreign lawyers James Grandolfo, Amit Singh and Adam Heyd acted for Bharti.

Axon partner Harjeet Lall led for the underwriters on Indian laws assisted by partner Abhimanyu Bhandari.

Milbank Hong Kong and Beijing-based partner Anthony Root and Hong Kong associate Andrew Yang acted for the underwriters.

Standard Chartered head of legal for debt capital markets Sapan Gupta acted for the underwriters in-house.

Milbank had also acted for the underwriters on Bharti Infratel’s $766m initial public offering (IPO) in January with Luthra & Luthra, where Amarchand Mangaldas appeared for Bharti.

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