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CA Magnum marketing $1.01 billion five-year notes backing LBO of India's Hexaware by Carlyle
By Paul A. Harris
Portland, Ore., Oct. 21 – CA Magnum Holdings started a roadshow on Thursday for a $1.01 billion offering of five-year senior secured notes backing the buyout of India-based Hexaware Technologies by Carlyle Group, according to market sources.
The deal, which is being transacted on the U.S. high-yield desk, is in the market with initial guidance of 5¾% to 6%.
The roadshow wraps up on Tuesday.
Goldman Sachs is leading a syndicate of banks expected to include Nomura, HSBC, Barclays, BNP Paribas, Deutsche Bank and Standard Chartered, a source said.
The notes come with two years of call protection.
Proceeds plus equity will be used to fund the $3 billion acquisition of Hexaware by Carlyle.
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