Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
G > SEC Filings for G > Form 8-K on 14-Jun-2013All Recent SEC Filings

Show all filings for GENPACT LTD | Request a Trial to NEW EDGAR Online Pro

Form 8-K for GENPACT LTD


14-Jun-2013

Entry into a Material Definitive Agreement, Financial Statements and Exhibits


Item 1.01. Entry into a Material Definitive Agreement.

On June 14, 2013, Genpact Limited ("Genpact") entered into Amendment No. 1 (the "Amendment") to the credit agreement dated as of August 30, 2012 (the "Credit Agreement") among Genpact International, Inc., a Delaware corporation ("Genpact International"), Headstrong Corporation, a Delaware corporation ("Headstrong"), Genpact Global Holdings (Bermuda) Limited, an exempted limited liability company organized under the laws of Bermuda (together with Genpact International and Headstrong, the "Borrowers"), Morgan Stanley Senior Funding, Inc., as administrative agent and swingline lender, Morgan Stanley Bank, N.A., as issuing bank, Morgan Stanley Senior Funding, Inc., Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Credit Agricole Corporate and Investment Bank, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC, as joint lead arrangers and joint bookrunning managers, and the lenders party thereto (the Credit Agreement, as amended by the Amendment, the "Amended Credit Agreement").

The Credit Agreement provided for, among other things, a senior secured term loan in aggregate principal amount of US$675,000,000 (the "Term Loans") and a senior secured revolving credit facility in aggregate principal amount of US$250,000,000 (the "Revolving Loans").

The Amendment provides for, among other things, the refinancing in full of the outstanding principal amount of the Term Loans (the "Refinancing Term Loans") and the refinancing of the Revolving Loans (the "Refinancing Revolving Loans"). The maturity date of the Refinancing Term Loans and the Refinancing Revolving Loans is the same as the Term Loans and the Revolving Loans (August 30, 2017 and August 30, 2019, respectively). The Amendment also (a) removes the financial covenant in the Credit Agreement (the "Financial Covenant") with respect to the Refinancing Term Loans and (b) modifies the Financial Covenant with respect to the Refinancing Revolving Loans to make it a springing covenant which requires the Company to maintain a consolidated leverage ratio of 2.50 to 1.00 for any consecutive four fiscal quarter period of Genpact, which shall only be tested
(i) at the time of the incurrence of Refinancing Revolving Loans or the issuance of Letters of Credit (as defined in the Amended Credit Agreement) by looking back to the last day of the prior quarter to determine if Genpact would have been in compliance with the Financial Covenant as of such quarter end if the Financial Covenant had been tested for such quarter and (ii) at the end of each quarter, provided that, in each case, the Financial Covenant will only be tested if on the last day of any fiscal quarter of Genpact the aggregate principal amount of Refinancing Revolving Loans, Swingline Loans (as defined in the Amended Credit Agreement) and/or certain Letters of Credit that are issued and/or outstanding is greater than $50,000,000.

Borrowings under the Amended Credit Agreement bear interest at a rate equal to, at the election of the Borrowers, LIBOR plus an applicable margin equal to 2.75% per annum in the case of the Refinancing Term Loans and 2.50% per annum in the case of the Refinancing Revolving Loans or a base rate plus an applicable margin equal to 1.75% per annum in the case of the Refinancing Term Loans and 1.50% per annum in the case of the Refinancing Revolving Loans. The revolving credit commitments under the Amended Credit Agreement remain subject to a commitment fee equal to 0.50% of the actual daily amount by which the aggregate revolving commitments exceed the sum of outstanding revolving loans and letter of credit obligations. The Amended Credit Agreement includes a "LIBOR floor" applicable to the Refinancing Term Loans only of 0.75%.

The foregoing description of the Amendment is qualified in its entirety by the full text of the Amendment, which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

The following exhibits are filed with this Current Report on Form 8-K:

10.1   Amendment No. 1, dated as of June 14, 2013, to the Credit Agreement, dated
       as of August 30, 2012, among Genpact Limited, the subsidiaries of Genpact
       Limited party thereto, the lenders party thereto, Morgan Stanley Senior
       Funding, Inc., as administrative agent and swingline lender, Morgan Stanley
       Bank, N.A., as issuing bank, Morgan Stanley Senior Funding, Inc., Citigroup
       Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated,
       and Credit Agricole Corporate and Investment Bank, J.P. Morgan Securities
       LLC and Wells Fargo Securities, LLC, as joint lead arrangers and joint
       bookrunning managers.


  Add G to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for G - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial      Sign Up Now


Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.