Hexaware bond: re-programming Indian high yield?

Indian IT company Hexaware Technologies draws strong demand for a debut high yield bond. Can it help overcome the sector's difficulties of the past year-and-a-half?

Hexaware bond: re-programming Indian high yield?
R. Srikrishna: CEO Hexaware Technologies

Hexaware Technologies, a listed Indian IT products and services company, drew strong demand for a debut $300 million bond on Thursday, offering hope for the beleaguered Indian high-yield sector. 

The Ba3BB-BB- rated deal, issued in the name of HT Global IT Solutions, attracted a $1.9 billion peak order book that held firm even after price guidance was revised for a second time during London trading hours. 

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