HCL Technologies Ltd.

HCL Technologies’ wholly-owned step-down subsidiary -- HCL America Inc has approved a proposal for issuing senior unsecured notes of up to $500 million. The net proceeds of the notes, which are proposed to be listed on the Singapore Stock Exchange, will be used for refinancing existing debts and for general corporate purpose.  The notes are backed by a corporate guarantee of the company.

The Board of Directors in its meeting held on February 25, 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. The guarantee is subject to the aggregate liability of the company not exceeding $525 million.

HCL Technologies is a leading global IT services company that helps global enterprises reimagine and transform their businesses through digital technology transformation.