HCL provides guarantee to subsidiary's bond issuance of USD 150 mm

HCL Technologies announced that its wholly owned subsidiary, HCL America has approved the proposal for issuance of USD denominated fixed rate, senior unsecured notes aggregating to an amount not exceeding USD 500 million (Notes) in accordance with the offer documents. The Notes are backed by a corporate guarantee of the Company. The net proceeds of the Notes are intended to be utilized for refinancing the existing debts and for general corporate purpose of the Issuer and other affiliates of the Issuer outside India. The Notes are proposed to be listed on the Singapore Stock Exchange.

The Board of Directors of the Company in its meeting held on 25 February 2021, has granted its approval to unconditionally and irrevocably guarantee the due and punctual payment of the principal and interest and any additional amount payable in respect of the Notes, as and when the same shall become due and payable (Guarantee). The Guarantee is subject to the aggregate liability of the Company not exceeding USD 525 million, (105 % of the principal amount of the Notes).

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