A story in the March 5 edition of the Prospect News Investment Grade Daily incorrectly reported the coupon of HCL America Inc.’s $500 million senior notes due 2026. The correct coupon is 1.375%. A corrected and expanded version of the story follows:
Chicago, March 11 – HCL America Inc. sold $500 million of 1.375% five-year senior notes (A-) on March 3, according to a filing with the Bombay Stock Exchange Ltd.
The notes priced at Treasuries plus 75 basis points. The notes were talked in the Treasuries plus 100 bps area, according to a market source.
BofA Securities Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Standard Chartered Bank were the bookrunners.
The issuer, based in California, is a subsidiary of HCL Technologies Ltd., which will guarantee the notes.
The notes are being distributed through Rule 144A and Regulation S and will not be offered in India.
HCL Technologies is a New Delhi-based global technology company.
Issuer: | HCL America Inc.
|
Guarantor: | HCL Technologies Ltd.
|
Issue: | Senior notes
|
Amount: | $500 million
|
Maturity: | March 10, 2026
|
Bookrunners: | BofA Securities Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Standard Chartered Bank
|
Coupon: | 1.375%
|
Spread: | Treasuries plus 75 bps
|
Trade date: | March 3
|
Settlement date: | March 10
|
Rating: | S&P: A-
|
Distribution: | Rule 144A and Regulation S
|
|
Price talk: | Treasuries plus 100 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.