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Bharti Airtel on Sunday announced that it has arranged the entire funding amount required for its proposed acquisition of Zain’s African operations. It said the financing was oversubscribed with many banks committing to underwrite the amount.

Mandated Lead Arranger (MLA) and Lead Advisor is Standard Chartered Bank, our MLA and Joint Lead Advisor is Barclays, our MLA and Lead Onshore Advisor is SBI Group and other MLAs and Co-Advisors are ANZ, BNP, Bank of America Merrill Lynch, Credit Agricole CIB, DBS, HSBC, Bank of Tokyo Mitsubishi UFJ and Sumitomo Mitsui Banking Corporation will collectively help in lending out $ 7.5 billion.

In addition to the USD Financing, SBI Group have committed upto USD 1 billion equivalent INR to Bharti which would also cover any associated transaction costs.

Global Investment House KSCC is serving as Bharti Airtel’s Regional Financial Advisor on this transaction.