HCL America tenders for up to $125 million 1 3/8% notes due 2026

By Wendy Van Sickle

Columbus, Ohio, Feb. 6 – HCL America Inc. tendered for up to $125 million of its $500 million of 1 3/8% senior notes due 2026 (Cusips: 40480HAA5/U2479QAA5)

The issuer, based in California, is a subsidiary of India’s HCL Technologies Ltd., which guarantees the notes.

The company is offering a total consideration of $908.75 per $1,000 principal amount to holders who tender by the early deadline, 5 p.m. ET on Feb. 17.

The total consideration includes an early premium of $30 per $1,000 principal amount that will not be paid to holders who tender after the early deadline.

The offer will expire at 11:59 p.m. ET on March 6.

Holders will also receive accrued interest.

Early settlement is planned for Feb. 22 and final settlement for March 8.

HCL said the purpose of the tender offer, which will be funded with cash on hand, is to optimize its balance sheet and reduce debt.

Merrill Lynch (Singapore) Pte. Ltd. (+65 6678 0250, +44 20 7996 5420, dg.dcm_sea@bofa.com or DG.LM-EMEA@bofa.com) and Standard Chartered Bank (+65 6557 8286, +44 20 7885 5739, +852 3983 8658 or: liability_management@sc.com) are the dealer managers.

Morrow Sodali Ltd. (https://projects.morrowsodali.com/HCL) is the information and tender agent.

HCL Technologies is a New Delhi-based global technology company.

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