Linklaters advises on India's highest rated US dollar bond offerings to date
Linklaters continues its leading position in India’s offshore bond market by advising on the maiden international bond offerings by Wipro Limited (Wipro) and HCL Technologies Limited (HCL Technologies). Wipro is an Indian multinational corporation providing information technology, consulting and business process services and HCL Technologies is an Indian multinational information technology services and consulting company. The issuance by HCL Technologies was assigned a rating of 'A-' by S&P Global Ratings and the issuance by Wipro was assigned a rating of “A-“ by both S&P Global Ratings and Fitch Ratings Ltd, making them one of India's highest rated US dollar bond offerings to date.
Both issuances were issued by the US subsidiaries of the companies, with a guarantee by their respective Indian parent. Linklaters advised the joint global coordinators and the joint lead managers on the issuance of US$750m 1.50% senior notes due 2026 by Wipro IT Services LLC, and advised the joint bookrunners on the issuance of US$500m 1.375% senior notes due 2026 by HCL America Inc..
The Linklaters team was led by capital markets partners Amit Singh and Michele Discepola, supported by counsel Xunming Lim, managing associate Calvin Soon and senior US associate Jairo Carvalho Lamatina.
Head of South and Southeast Capital Markets, Amit Singh, commented,
“We are pleased to be able to support our tech clients in these marquee transactions. With the success of these bond offerings, we are expecting more technology companies to consider issuing bonds in the international capital markets space.”