HCL Tech: HCL Tech plans $500 million overseas bond issue

Mumbai: HCL Technologies plans to raise about $500 million in an overseas bond sale, which would be a first — not only for the software company but also for the exports-oriented outsourcing industry, where India is a leader. Financing an offshore acquisition may be one of the motives of the proposed issue.These bonds could mature in 10 years, offering yields of about 3 per cent, three people with knowledge of the matter told ET. Coupon rates and