Airtel 2012 Annual Report Download - page 205

203
BHARTI AIRTEL ANNUAL REPORT 2011-12
Airtel Subsidiary 9,246 5,852 (i) Deed of Hypothecation by way of fixed charge creating a
first-ranking pari passu fixed charge over listed machinery
and equipment of the company, favouring the Bank/FIIs
investors and the Offshore Security Agent and filed with the
Registrar of Joint Stock Companies.
(ii) Deed of Hypothecation by way of floating charge creating
a first-ranking pari passu floating charge over plant, machinery
and equipment, both present and future, excluding machinery
and equipment covered under the foregoing Deed of
Hypothecation by way of fixed charge and a first-ranking pari
passu floating charge over all current assets of the company,
both present and future, including but not limited to stock,
book debts, receivables and accounts of the company, entered
into or to be entered into by the company, favouring the Bank/
FIIs Facility Investors and Offshore Security Agent and filed
with the Registrar of Joint Stock Companies.
(iii) Irrevocable General Power of Attorney dated entered into
or to be entered into by the company in favour of the Bank/
FIIs Investors and the Offshore Security Agent.
Bharti Airtel Subsidiary 84,617 71,806 The countrywise security details are as follows:
(i) Pledge on Assets - Kenya, Tanzania, Nigeria and Congo B
(ii) Pledge on specific shares and assets- DRC and Madagascar
(iii) Pledge on business assets and shares - Malawi
(iv) Pledge on equipments - Niger
(v) Pledge on specific fixed assets - Chad
(vi) Pledge on specific assets - Burkina Faso
(vii) Pledge on assets and shares - Ghana
(``
``
` Millions)
Outstanding loan amount
Entity Relation As of As of
March 31, 2012 March 31, 2011 Security Detail
Bangladesh Ltd
Africa BV
and its
subsidiaries
Contd...
BAABV (erstwhile ZAIN) acquisition related borrowing:
Bharti Airtel acquired operations of 15 countries in Africa from ZAIN BV through its subsidiary Bharti Airtel International
Netherlands BV with effect from June 8, 2010. The above acquisition was financed through loans taken from various banks.
The loan agreements contain a negative pledge covenant that prevents the Group (excluding Bharti Airtel Africa B.V,
Bharti Infratel Limited, and their respective subsidiaries) to create or allow to exit any security interest on any of its assets
without prior written consent of the majority lenders except in certain agreed circumstances.
The Company’s 3G/BWA borrowings:
The loan agreements with respect to 3G/BWA borrowings contain a negative pledge covenant that prevents the Company
to create or allow to exit any security interest on any of its assets without prior written consent of the lenders except in
certain agreed circumstances.