Carlyle Group plans $1 bn bond to help buy India IT firm Hexaware

Carlyle Group Inc.’s special-purpose investment holding firm CA Magnum Holdings plans to issue dollar bonds to help fund the proposed acquisition of Hexaware Technologies Ltd., according to Moody’s Investors Service.

The $1.01 billion notes due 2026 would ultimately be used by CA Magnum to help finance the purchase of a 95.4% stake in Indian IT company Hexaware, the rating firm said in a note Friday. Moody’s has assigned a B1 rating with a stable outlook to the proposed bond sale.