Carlyle Group is arranging a $1.2 billion syndicated loan to repay existing debt from its acquisition of Hexaware Technologies, Bloomberg News reported Wednesday, citing unnamed sources familiar with the matter.

Eight banks, including Citigroup (C), Deutsche Bank (DB), and HSBC (HSBC), are supporting the five-year facility, which offers a margin of 333 basis points over SOFR and is now being marketed more widely, Bloomberg quoted the sources as saying.

The transaction would refinance a bond issued in 2021 and follows Hexaware's $1 billion IPO in February, which was India's first offering of that size this year, Bloomberg reported.

The listing reportedly resulted in participation from major global investors such as the Government of Singapore and the Abu Dhabi Investment Authority.

Carlyle did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)