HCL launches rare dollar loan for Indian firms
HCL Technologies, the Indian software and outsourcing company, launched a $300m loan last week, becoming one of just a handful of Indian companies to tap the Asian loan market this year.
The five year facility has an average life of 3.2 years and pays an all-in of 430bp over Libor, with a margin of 380bp and a 150bp fee.
The facility partially refinances a £400m bridge through Standard Chartered that supported HCL’s £441.1m acquisition of UK based IT services
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