Vodafone Idea (Vi) has extended the redemption period of 8,000 optionally convertible debentures (OCDs) – out of the 16,000 OCDs issued to American Tower Corps India unit (ATC Telecom Infrastructure Pvt Ltd) – to 18 months from the allotment date, instead of the earlier six-month deadline.
ATC India: The two sides have entered into a 60-day exclusivity agreement for bilateral negotiations that could end in ATC selling a minimum of 51% in its India unit, ATC Telecom Infrastructure Pvt Ltd (ATC-TIPL), to cashing out entirely at an enterprise value of around $1.5-2.0 billion, the people said. I Squared has been competing with Canada’s Brookfield and US infrastructure fund Stonepeak Partners for the stake.
The two sides have entered into a 60-day exclusivity agreement for bilateral negotiations that could end in ATC selling a minimum of 51% in its India unit, ATC Telecom Infrastructure Pvt Ltd (ATC-TIPL), to cashing out entirely at an enterprise value of around $1.5-2.0 billion, the people said. I Squared has been competing with Canadas Brookfield and US infrastructure fund Stonepeak Partners for the stake.
“Basis Vis disclosures, it faces large payouts in 2QFY24.of the estimated Rs 4,300 crore outgo, Rs 2,600 crore is towards debt repayments (maturing) and a Rs 1,700 crore instalment related to 5G spectrum, which may exert pressure on payments to Indus, unless Vi raises funds,” IIFL Securities said in a note.
Vodafone Idea: “Basis Vi’s disclosures, it faces large payouts in 2QFY24.of the estimated Rs 4,300 crore outgo, Rs 2,600 crore is towards debt repayments (maturing) and a Rs 1,700 crore instalment related to 5G spectrum, which may exert pressure on payments to Indus, unless Vi raises funds,” IIFL Securities said in a note.