New Delhi, Oct. 14 -- Bharti Telecom Ltd (BTL) raised Rs.10,500 crore by selling short-term bonds maturing in two and three years on Tuesday, three merchant bankers told Mint. This is one of the largest corporate bond issuances so far in the current financial year, they said.

BTL, the main controlling company of telecom operator Bharti Airtel, raised Rs.5,250 crore through bonds maturing in October 2027 at a coupon rate of 7.35%, and an equal amount through papers maturing in December 2028 at a coupon of 7.45%, the bankers said, requesting not to be identified.

Proceeds of the fresh bond issuances will be used to refinance the company's existing debt maturing in the coming months, they said.

The company received strong demand from mutu...