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India’s Rolta begins exchange offer, consent bid for 10¾% notes
By Angela McDaniels
Tacoma, Wash., Sept. 29 – Rolta India Ltd. subsidiaries Rolta Americas LLC and Rolta, LLC announced that Rolta Americas has begun an exchange offer for Rolta LLC’s $200 million 10¾% senior notes due 2018.
Noteholders are being offered 8 7/8% senior notes due 2019, which will be issued and treated as a single series with Rolta Americas’ $300 million notes issued on July 24, according to a company news release.
Holders who tender by the early exchange date, 5 p.m. ET on Oct. 8, will receive more 8 7/8% notes than holders who tender after that time but prior to the offer expiration, 11:59 p.m. ET on Oct. 23.
Rolta LLC is also soliciting consents to amend some provisions of the 10¾% notes to conform them to the corresponding provisions of the 8 7/8% notes.
Holders who tender by the early exchange date will receive a consent fee.
The company said the purpose of the exchange offer is to lower the Rolta Group’s interest costs, extend the maturity profile of a portion of its debt and provide it with additional financial flexibility to pursue its strategic objectives.
The exchange offer is only being made to eligible holders who are (i) qualified institutional buyers as defined in Rule 144A of the U.S. Securities Act of 1933 or located outside the United States or certain fiduciaries holding accounts for the benefit of persons located outside the United States. All noteholders are eligible to participate in the consent solicitation.
The information and exchange agent is D.F. King & Co., Inc. (212 269-5550, +44 207 920 9700, rolta@dfking.com or www.dfking.com/rolta).
Rolta India Ltd. is a technology services company based in Mumbai.
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