By Wendy Van Sickle and Cristal Cody
Columbus, Ohio, March 23 – Genpact Ltd. subsidiaries Genpact USA, Inc. and Genpact Luxembourg Sarl priced $350 million of 1.75% five-year guaranteed senior notes (Baa3/BBB-) at 99.87 to yield 1.777%, or 95 basis points over Treasuries, according to a news release.
The notes were talked in the Treasuries plus 115 bps to 120 bps area, according to a market source.
The notes have a make-whole call and are then redeemable at par.
The bookrunners are Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Wells Fargo Securities LLC, BofA Securities, Inc., Credit Agricole Securities (USA) Inc., J.P. Morgan Securities LLC and TD Securities (USA) LLC.
The notes are guaranteed by Genpact Ltd.
Proceeds will be used to repay or redeem the company’s 3.7% senior notes due April 1, 2022 and for general corporate purposes.
Genpact is a New York-based global professional process services firm.
| Issuers: | Genpact USA, Inc. and Genpact Luxembourg Sarl
|
| Guarantor: | Genpact Ltd.
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| Issue: | Senior notes
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| Amount: | $350 million
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| Maturity: | April 10, 2026
|
| Bookrunners: | Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Wells Fargo Securities LLC, BofA Securities, Inc., Credit Agricole Securities (USA) Inc., J.P. Morgan Securities LLC and TD Securities (USA) LLC
|
| Coupon: | 1.75%
|
| Price: | 99.87
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| Yield: | 1.777%
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| Spread: | 95 bps over Treasuries
|
| Call: | Make-whole call at Treasuries plus 15 bps until March 10, 2026, then par call
|
| Pricing date: | March 23
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| Settlement date: | March 26
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| Ratings: | Moody’s: Baa3
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| S&P: BBB-
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| Distribution: | SEC registered
|
| Talk: | Treasuries plus 115 bps to 120 bps area
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