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Tuesday, February 16, 2010

Bharti readies debt financing for Zain buy - source

Bharti Airtel, which has offered $10.7 billion for Kuwaiti telecom Zain's African assets, is likely to finance nearly all the deal's purchase price with foreign currency loans, a person familiar with the matter said on Tuesday.Standard Chartered and Barclays are advising India's largest telecoms firm on both the merger and its funding, the person said.Television channel ET Now said Bharti was in talks with Barclays, StanChart, State Bank of India, Goldman Sachs and Nomura on funding the deal.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Wednesday, Apr 09
20:00 EIA Crude Oil Stocks Change 1 2.553M 2.200M 6.165M
20:45 Fed's Musalem speech 2
21:15 Fed's Barkin speech 2
22:30 10-Year Note Auction 1 4.435% 4.310%
23:30 FOMC Minutes 3
Thursday, Apr 10
04:31 RICS Housing Price Balance 1 8% 11%
15:30 RBA Governor Bullock speech 3
18:00 Initial Jobless Claims 2 223K 219K
18:00 Initial Jobless Claims 4-week average 1 223K
18:00 Continuing Jobless Claims 1 1.880M 1.903M
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