Carlyle’s $1.2B Loan for India Hexaware M&A Refinancing Launches

An $1.195b syndicated loan that Carlyle Group Inc is seeking to refinance debt used to acquire Mumbai-based software firm Hexaware Technologies Ltd. has been launched into market, according to people familiar with the matter.

• Loan is split into a $1.12b term loan and $75m revolver
• Tenor: 5Y
  • Average life: 4.9Y
• Original MLABs and underwriters: Barclays, Citi, DB, JPM, HSBC
  • MLABU: ING, MUFG, SMBC
  • MLABs: ANZ, DBS, Mizuho
• Opening margin: SOFR+333bp
• Commitments are due July 25
• UOP: The borrowing refinances a $1b bond Carlye’s special purpose investment holding firm CA Magnum Holdings sold in 2021 to purchase a 95% stake in ...