iGATE announced today that it has priced an offering of $200 million aggregate principal amount of senior notes due on 2016.
Further, these senior notes will bear an interest rate of 9 per cent, the company said in a statement. Also, these notes will be guaranteed by iGATE's existing and future wholly-owned U.S. subsidiaries without specifying which ones. Additionally, the company intends to use net proceeds of the offering to redeem $770 million loan taken last year, the statement added.