Filed Pursuant to Rule 424(b)(5)
Registration Nos. 333-230982
333-230982-01
333-230982-02
The information in this preliminary prospectus supplement and the accompanying prospectus is not complete and may be changed. This preliminary prospectus supplement and the accompanying prospectus are not an offer to sell these securities and are not soliciting an offer to buy these securities in any jurisdiction where such offer or sale is not permitted.
SUBJECT TO COMPLETION, DATED MARCH 23, 2021
PRELIMINARY PROSPECTUS SUPPLEMENT
(To Prospectus Dated March 23, 2021)
$
Genpact Luxembourg S.à r.l.
Genpact USA, Inc.
% Senior Notes due 2026
Guaranteed by Genpact Limited
Genpact Luxembourg S.à r.l., a private limited liability company (société à responsabilité limitée) organized under the laws of the Grand Duchy of Luxembourg, having its registered office at 12F, rue Guillaume Kroll, L-1882 Luxembourg and registered with the Luxembourg trade and company register under number B131.149 (the “Luxembourg Co-Issuer”), and Genpact USA, Inc., a Delaware corporation (the “U.S. Co-Issuer” and each, an “Issuer” and together, the “Issuers”) are offering $ aggregate principal amount of % Senior Notes due 2026 (the “notes”). The notes will mature on , 2026.
The Issuers will pay interest on the notes semi-annually in arrears on and of each year, commencing on , 2021. The interest rate payable on the notes will be subject to adjustment from time to time if either Moody’s or S&P (or a substitute rating agency therefor) downgrades (or downgrades and subsequently upgrades) the credit rating assigned to the notes as described in “Description of Notes—Interest Rate Adjustment.”
The Issuers may redeem the notes, in whole or in part, from time to time at their option, prior to , 2026 (the date that is one month prior to the maturity of the notes), at a price equal to 100% of the aggregate principal amount of the notes to be redeemed plus a specified “make-whole” premium and accrued and unpaid interest, if any, to, but not including, the redemption date, and on or after , 2026, at a price equal to 100% of the aggregate principal amount of the notes to be redeemed plus accrued and unpaid interest, if any, to, but not including, the redemption date. See “Description of Notes—Optional Redemption.” If we experience a change of control repurchase event, the Issuers will be required to make an offer to purchase each holder’s notes at a price of 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but not including, the date of purchase. See “Description of Notes—Repurchase at the Option of Holders on Certain Changes of Control.” The Issuers may redeem the notes at their option, at any time in whole but not in part, in the event of certain developments affecting taxation described under “Description of Notes—Redemption for Taxation Reasons.”
The notes will be the Issuers’ senior unsecured obligations. The notes will be fully and unconditionally guaranteed (the “guarantee”) on a senior unsecured basis by Genpact Limited (the “Parent Guarantor”) as described under “Description of Notes—Genpact Guarantee.” The notes and the guarantee will rank pari passu in right of payment with all senior and unsecured debt of the Issuers and the Parent Guarantor and will rank senior in right of payment to all of the Issuers’ and the Parent Guarantor’s future subordinated debt. The notes will be effectively subordinated to all of the Issuers’ and the Parent Guarantor’s existing and future secured debt to the extent of the value of the assets securing such debt. The notes will be structurally subordinated to all of the existing and future debt and other liabilities of the Parent Guarantor’s subsidiaries (other than the Issuers), including the liabilities of certain subsidiaries pursuant to our senior credit facility. See “Description of Notes—Ranking.”
Investing in the notes involves risk. You should carefully review the risks and uncertainties described under the heading “Risk Factors” beginning on page S-10 of this prospectus supplement, as well as in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020, and our other filings with the Securities and Exchange Commission (the “SEC”) that are incorporated or deemed to be incorporated by reference in this prospectus supplement and the accompanying prospectus before you make an investment in the notes.
Neither the SEC nor any state or foreign securities commission has approved or disapproved of these securities or determined if this prospectus supplement or the accompanying prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
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| | Public Offering Price (1) | | | Underwriting Discount | | | Proceeds Before Expenses to the Issuers | |
Per Note | | | | % | | | | % | | | | % |
Total | | $ | | | | $ | | | | $ | | |
(1) | Plus accrued interest, if any, from , 2021. |
The notes will not be listed on any securities exchange. Currently, there is no public trading market for the notes. The underwriters expect to deliver the notes in global form through the book-entry system of The Depository Trust Company (“DTC”) and its participants, including Euroclear Bank SA/NV, as operator of the Euroclear System (“Euroclear”), and Clearstream Banking, société anonyme (“Clearstream”), on or about , 2021.
Joint Book-Running Managers
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Citigroup | | Morgan Stanley | | Wells Fargo Securities |
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BofA Securities | | Credit Agricole CIB | | J.P. Morgan | | TD Securities |
The date of this prospectus supplement is , 2021.