By Cristal Cody
Tupelo, Miss., March 21 – Genpact Ltd. subsidiary Genpact Luxembourg Sarl sold an upsized $350 million of 3.7% five-year senior notes on Tuesday in a Rule 144A and Regulation S offering at a spread of Treasuries plus 175 basis points, according to a market source and a company news release.
The notes (Baa3/BBB-) priced on the tight side of guidance.
The deal was upsized from $300 million.
Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities LLC were the bookrunners.
The notes are guaranteed by Genpact Ltd.
Proceeds will be used to repay outstanding loans under the company’s revolving credit facility and for general corporate purposes.
Genpact is a New York-based global professional process services firm.
| Issuer: | Genpact Luxembourg Sarl
|
| Guarantor: | Genpact Ltd.
|
| Amount: | $350 million
|
| Description: | Senior notes
|
| Maturity: | April 1, 2022
|
| Bookrunners: | Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities LLC
|
| Coupon: | 3.7%
|
| Spread: | Treasuries plus 175 bps
|
| Trade date: | March 21
|
| Settlement date: | March 27
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Distribution: | Rule 144A, Regulation S
|
| Price guidance: | Treasuries plus 180 bps area, plus or minus 5 bps
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
