E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Add to balance / Manage account  User:  Log out
Prospect News home > News index > List of issuers H > Headlines for HCL America Inc. > News item
Published on 2/22/2023 in the Prospect News Emerging Markets Daily and Prospect News Liability Management Daily.

HCL America settles $247.79 million tendered 2026 notes

By Marisa Wong

Los Angeles, Feb. 22 – HCL America Inc. announced the early settlement of its Feb. 6 tender offer for up to $125 million of its $500 million of 1 3/8% senior notes due 2026 (Cusip: 40480HAA5, U2479QAA5) guaranteed by parent company HCL Technologies Ltd.

As announced on Tuesday, HCL America increased the maximum acceptance amount to $247,793,000 from $125 million to accept for purchase all of the notes tendered as of the early tender deadline at 5 p.m. ET on Feb. 17.

The company paid a total $226,715,108.01 for the early tendered notes, reflecting a total consideration of $908.75 per $1,000 principal amount and accrued interest. The total consideration includes an early premium of $30 per $1,000 of notes tendered by the early deadline.

No scaling factor was applied to the early tendered notes, as noted before.

After cancellation of the purchased notes on Wednesday, $252,207,000 principal amount of the issue remains outstanding.

The offer will expire at 11:59 p.m. ET on March 6.

However, because the total amount of notes tendered by the early tender deadline equals the updated offer cap, the company will not accept for purchase any notes tendered after the early deadline.

Merrill Lynch (Singapore) Pte. Ltd. (+65 6678 0250, +44 20 7996 5420, dg.dcm_sea@bofa.com or DG.LM-EMEA@bofa.com) and Standard Chartered Bank (+65 6557 8286, +44 20 7885 5739, +852 3983 8658 or: liability_management@sc.com) are the dealer managers.

Morrow Sodali Ltd. (https://projects.morrowsodali.com/HCL) is the information and tender agent.

HCL Technologies is a New Delhi-based global technology company. The issuer is based in California.


© 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.