The company may seek bids for the notes due in three to 10 years next week, with the longer end bonds likely offering a coupon of 9%, they said, asking not to be named as the information is not public. If successful, it will be Bharti Telecom’s largest-ever rupee issuance, according to data compiled by Bloomberg. 

The borrowing is coming days after India’s second-largest wireless carrier Bharti Airtel Ltd., in which Bharti Telecom is the largest shareholder, reported a quarterly profit that trailed analysts estimates due to foreign exchange losses. The borrower may have to offer a higher coupon rate than other similarly rated firms as it is the holding company, the people said.

A spokesperson for Bharti Telecom didn’t immediately respond to a request for comment.

Standard Chartered Plc and Barclays Plc are arranging the deal, the people said. A spokesperson for Standard Chartered declined to comment, while the Barclays spokesperson didn’t immediately respond to a request for comment.

The issuance is also Bharti Telecom’s first onshore debt sale this year, after raising 80 billion rupees through three-part notes in December 2023.