By Cristal Cody
Chicago, June 16 – Wipro IT Services, LLC sold $750 million of 1½% five-year notes (A-/A-) on Wednesday, according to a market source.
The issue will be guaranteed by parent Wipro Ltd.
The notes priced with a spread of Treasuries plus 80 basis points, low to initial price talk, which marketed them in the Treasuries plus 110 bps area.
Joint global coordinators were Citigroup and HSBC. They were joined as joint lead managers by BofA Securities, BNP Paribas and Credit Suisse.
Proceeds, according to Fitch Ratings, will be used to refinance debt and for general corporate purposes.
Wipro provides information technology services and is based in Bangalore, India.
| Issuer: | Wipro IT Services, LLC
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| Guarantor: | Wipro Ltd.
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| Issue: | Notes
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| Amount: | $750 million
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| Maturity: | June 23, 2026
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| Bookrunners: | Citigroup and HSBC
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| Joint lead managers: | BofA Securities, BNP Paribas and Credit Suisse
|
| Coupon: | 1½%
|
| Spread: | Treasuries plus 80 bps
|
| Trade date: | June 16
|
| Ratings: | S&P: A-
|
| Fitch: A-
|
| Price talk: | Treasuries plus 110 bps area
|
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