Kirkland Represents Baring Private Equity Asia in $600 Million Facility for Take-Private of Hexaware Technologies

Kirkland & Ellis has represented Baring Private Equity Asia (BPEA) in a US$600 million facility in connection with the redemption of the US$367.9 million of notes issued by HT Global IT Solutions Limited, a Mauritius entity owned by BPEA that owns 62% of Hexaware Technologies (NSE: HEXAWARE), a leading global IT consulting and digital solutions provider listed on the Bombay Stock Exchange and National Stock Exchange, and funding of the take-private of Hexaware.

The take-private, together with the refinancing, is valued at approximately US$2 billion, will be the first successful delisting from the Indian stock exchange since December 2018 and one of the small number of take-private transactions in India by a private equity sponsor.

The Kirkland team was led by debt finance partner Manas Chandrashekar with assistance from capital markets partner Antoine Lebienvenu.