DLA Piper has advised long term client Rolta India Limited on a highly successful high-yield bond offering. The Company raised US$300 million in the international capital markets, issuing 8.875% Senior Notes (the “Notes”) through its wholly owned subsidiary, Rolta Americas LLC. The offering was oversubscribed by more than eight times with an order book of over US$ 2.4 billion and demand from a high quality international investor base. Asia contributed 47% of the demand, the United States contributed 35% and European investors contributed 18%. The issuer of the bonds was a newly formed Delaware subsidiary of Rolta International Inc., Rolta’s principal international operating company.
Stephen Peepels, partner at DLA Piper said: “This transaction demonstrates the firm’s global footprint and our ability to serve multinational clients, as Rolta’s subsidiaries in the UK, Netherlands, Middle East and the United States all played critical roles in guaranteeing and securing the bonds. This was Rolta’s second international bond offering, after raising US$200 million in 2013, and DLA Piper’s India capital markets practice has been well recognized for this, winning a number of accolades in recent years.”
The team was led out of Hong Kong by Stephen Peepels, supported by Timothy Franklyn and Clark Chen.
Other team members included Chris Paci, Jason Harmon and Rajni Sekhri in the United States, Martin Bartlam and Marcus Lovatt in the UK, Lex Oosterling and Fiorelo Klein in the Netherlands, Debbie Barbor and Tala Sara Eavis in the Middle East, and Steve Weerts (United States) for international and U.S. tax issues.
