Neotel to raise $1 billion for expansion

Tata Communications, South African subsidiary, Neotel aims to raise $ 1 billion mainly through the debt route for its expansion plans.

The company plans to opt for equity-linked mode, for the remaining part of the loan that cannot be raised through debt.

Reports say that the company is in talks with its original investors including Nedbank Capital, Investec Bank and the Development Bank of South Africa as well as other global investors and Indian banks.