BSNL, MTNL to receive sovereign guarantee worth USD2bn

13 Jul 2020

State-owned providers Bharat Sanchar Nigam Limited (BSNL) and Mahanagar Telephone Nigam Limited (MTNL) are set to receive a sovereign guarantee worth INR150 billion (USD2.0 billion) as part of the companies’ revival package, the Economic Times reports, citing a notification from the Department of Economic Affairs. The funds, including INR85 billion for BSNL and INR65 billion for MTNL, will be used to restructure the operators’ existing debts and to finance some CAPEX requirements for the launch of 4G services.