By Standard Chartered, Bank of America Merrill Lynch and Barclays, are staring at mark-to-market losses of more than $225 million on debt related to funding of Bharti Airtel’s acquisition of Africa assets of Kuwait’s Zain. The spread on debt, similar to that of Bharti, has widened to about 250 basis points over the London Interbank Offered Rate (Libor), a benchmark on global lending, said a banker in the deal who did not want to be identified. Bharti contracted funding at 195 basis points above Libor. A basis point is 0.01 percentage point.
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