Debt financing
PE firm Carlyle ties up $1.2 B syndicated loan to refinance Hexaware acquisition
Private Equity firm Carlyle Group Inc is to raise about USD 1.2 Billion in a syndicated loan to refinance debt used to acquire Mumbai-based software firm Hexaware Technologies Ltd.The loan has a tenure of five years and is being underwritten by eight banks including Citigroup Inc, Deutsche Bank AG and HSBC Holdings Plc. It pays an interest margin of 333 basis points over the benchmark secured overnight financing rate.In October 2021, Carlyle’s special purpose investment holding firm CA Magnum Holdings sold about USD 1 Billion of notes to fund the purchase of a 95% stake in Hexaware.
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