By Cristal Cody
Tupelo, Miss., Nov. 14 – Genpact Ltd. subsidiary Genpact Luxembourg Sarl sold $400 million of 3.375% five-year guaranteed senior notes in a registered offering on Thursday at a spread of Treasuries plus 175 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (Baa3/BBB-) priced 99.976 to yield 3.38%.
Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Wells Fargo Securities LLC, BofA Securities, Inc., Credit Agricole Securities (USA) Inc. and J.P. Morgan Securities LLC were the bookrunners.
The notes are guaranteed by Genpact Ltd.
Proceeds will be used to repay borrowings under the company’s revolving credit facility.
Genpact Luxembourg is a Luxembourg-based global professional process services firm. The parent company is based in New York.
| Issuer: | Genpact Luxembourg Sarl
|
| Guarantor: | Genpact Ltd.
|
| Amount: | $400 million
|
| Description: | Senior notes
|
| Maturity: | Dec. 1, 2024
|
| Bookrunners: | Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Wells Fargo Securities LLC, BofA Securities, Inc., Credit Agricole Securities (USA) Inc. and J.P. Morgan Securities LLC
|
| Coupon: | 3.375%
|
| Price: | 99.976
|
| Yield: | 3.38%
|
| Spread: | Treasuries plus 175 bps
|
| Call features: | Make-whole call at Treasuries plus 30 bps before Nov. 1, 2024; thereafter at par
|
| Trade date: | Nov. 14
|
| Settlement date: | Nov. 18
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Distribution: | SEC registered
|
| Marketing: | Fixed income investor calls
|
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