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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
Tuesday, Jun 10
11:30 Claimant Count Change 3 33.1K 9.5K -21.2K Revised from 5.2K
11:30 Claimant Count Rate 2 4.5% 4.4% Revised from 4.5%
11:30 Employment Change (3M) 3 89K 112K
15:30 NFIB Business Optimism Index 1 98.8 95.9 95.8
18:25 Redbook Index (YoY) 1 4.7% 4.9%
21:00 52-Week Bill Auction 1 3.93%
22:30 3-Year Note Auction 1 3.824%
Wednesday, Jun 11
02:00 API Weekly Crude Oil Stock 1 0.7M -3.3M
04:15 Visitor Arrivals (YoY) 1 -8.4%
15:00 10-y Bond Auction 1 4.673%
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