Appleby Mauritius advises on the issue of US$85
million additional 7% senior notes due 2021 to be listed
on the Singapore Exchange Securities Trading Limited

2 October2017

First published by Appleby

Leading offshore law firm Appleby, has acted as Mauritius legal counsel to Deutsche Bank AG, Singapore Branch and Standard Chartered Bank (Initial Purchasers) and DB Trustees (Hong Kong) Limited (Trustee) on the issue of USD 85 million additional 7% senior notes due 2021 to the previously issued USD 300 million 7% senior notes due 2021 for which Appleby acted as Mauritius legal counsel in 2016 and which are listed on the Singapore Exchange Securities Trading Limited. The additional notes have been rated BB by Standard & Poor’s, BB by Fitch and Ba3 by Moody’s.

The Appleby team comprised of Manisha Lallah, Senior Associate and Malcolm Moller, Partner.

HT Global IT Solutions Holdings Limited (Issuer), a Mauritius company, was formed by Baring Private Equity Asia V Mauritius Holdings (4) Limited and holds 71.23% of the equity share capital (as at 30June 2017) in Hexaware Technologies Limited which is currently listed on the BSE Limited and on the National Stock Exchange of India Limited with a market capitalisation of approximately Rs 81.29 billion (approximately US$ 1.2 billion, as of 30 August 2017) making it among the largest information technology and business process management service providers listed in India by market capitalisation.

Appleby advised the Initial Purchasers and the Trustee on the Mauritius law aspects of the transaction alongside Shearman & Sterling LLP, Khaitan & Co. and Hogan Lovells Lee & Lee which advised on US, Indian and applicable local laws. Appleby Mauritius has a specialist team dedicated to advising clients on the issuance and listing of Notes.

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