'Update on Release of Guarantee provided by the Company on USD denominated Senior Notes issued by HCL America Inc., a wholly owned step-down subsidiary'.
HCLTECH · price
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HCL Technologies informed exchanges that its wholly owned step-down subsidiary HCL America Inc. has fully repaid the remaining balance of USD 252.207 million on its 1.375% senior unsecured notes. These notes were originally issued in March 2021 for USD 500 million, of which USD 247.793 million were bought back and cancelled in February 2023. With the final repayment completed on March 10, 2026, the Trustee has released HCL Technologies' unconditional and irrevocable guarantee on the notes, as no notes remain outstanding.
Positive for shareholders — the subsidiary's debt obligation is fully settled and HCL Technologies no longer carries this contingent guarantee liability, strengthening the group's balance sheet position.