StanChart steps up with £400m loan for HCL

Standard Chartered has sole underwritten a £400m ($655m) acquisition loan for an Indian borrower in one of the biggest financing commitments by a single bank since the credit crisis took hold of the Asian loan market in September.

  • 23 Oct 2008

The facility supports the takeover of the UK’s Axon Group by HCL Technology, and comes as many of the region’s biggest lenders are shying away from big underwriting commitments amid market uncertainty.

Standard Chartered agreed to provide the £400m one year loan for HCL, India’s fifth largest software ...

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