Wipro IT Services LLC’s USD750 Million Bond Offering

Allen & Overy has advised Wipro IT Services LLC on the matter.

Wipro IT Services LLC made a debut Rule 144A/Reg S bond offering of USD750 million 1.5% senior notes due 2026, guaranteed by Wipro Limited.  

The notes are listed on the Singapore Stock Exchange and the proceeds will be used to refinance existing debt, for general corporate purposes and/or any other purposes permitted by law. This transaction marked the Wipro group’s debut in the bond markets and is one of the highest rated transactions by an Indian group. 

Wipro IT Services is a wholly owned step-down subsidiary of Wipro Limited, which is a global multinational IT services, consulting and business process services company based in India and listed on the Bombay Stock Exchange, the NSE and the New York Stock Exchange. Wipro Limited is among a handful of NYSE listed Indian companies to undertake an international bond transaction.

The A&O team comprised Pallavi Gopinath Aney (Picture – Partner), Alexander Stathopoulos (Partner), Felipe Duque (Partner) and Serena Upadhyay (Associate).
 

 

Involved fees earner: Felipe Duque – Allen & Overy; Pallavi Gopinath Aney – Allen & Overy; Alexander Stathopoulos – Allen & Overy; Serena Upadhyay – Allen & Overy;

Law Firms: Allen & Overy;

Clients: Wipro IT Services LLC;

Author: Sonia Carcano