Airtel prepays Rs 8,815 cr towards deferred liabilities for 2015 spectrum

''Airtel prepays Rs 8,815 crore to clear deferred liabilities for spectrum acquired in 2015,'' the company said.

Over the last four months, Airtel has cleared Rs 24,334 crore of its deferred spectrum liabilities ahead of schedule. These liabilities carried an interest rate of 10 per cent and have been paid off through a combination of free cash generated by the business, equity proceeds, and significantly lower cost debt of a similar tenor.

Airtel said it continues to focus on financial flexibility via its capital structure, including optimising the cost of financing and capitalising on all opportunities of significant interest saves, like the latest prepayment.