Persistent Systems plans 80 bln rupee debt sale
Persistent Systems plans to raise up to 80 billion rupees through its debut bond sale to refinance a bridge loan used for acquiring Germany-based Nagarro. The issue features maturities ranging from one to five years.
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Persistent Systems Ltd plans to raise up to 80 billion rupees ($842 million) in its debut rupee bond sale to fund an acquisition, two merchant bankers said on Friday. The India-based IT firm will issue shorter-duration papers with maturities of up to five years later this month. The debt issue follows the company's acquisition of Germany-based Nagarro SE, expanding its global technology services footprint.
