Company: G
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001398659-25-000059
Chunk: 167

Company: Genpact LTD
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 167
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 on availability to make dividend payments to shareholders, subject to compliance with the financial covenants described above that are contained in the 2022 Credit Agreement.

As of December 31, 2024 and March 31, 2025, our outstanding term loan, net of debt amortization expense of $0.9 million and $0.8 million, respectively, was $476.1 million and $469.5 million, respectively. 

We also have fund-based and non-fund based credit facilities with banks, which are available for operational requirements in the form of overdrafts, letters of credit, guarantees and short-term loans. As of December 31, 2024 and March 31, 2025, the limits available under such facilities were $22.4 million and $27.4 million, respectively, of which $8.5 million and $8.7 million, respectively, was utilized, constituting non-funded drawdown. As of December 31, 2024 and March 31, 2025, a total of $1.5 million and $1.3 million, respectively, of our revolving credit facility was utilized, all of which constituted non-funded drawdown. Our outstanding term loan and revolving credit facility expire on December 13, 2027.

We manage a portion of our interest rate risk related to floating rate indebtedness by entering into interest rate swaps under which we receive floating rate payments based on the greater of Term SOFR and the floor rate under our term loan and make payments based on a fixed rate. As of March 31, 2025, we were party to interest rate swaps covering a total notional amount of $231.3 million. Under these swap agreements, the rate that we pay to banks in exchange for Term SOFR ranges between 4.25% and 4.72%.   

54

In March 2021, Genpact Luxembourg and Genpact USA co-issued $350 million aggregate principal amount of 1.750% senior notes (the "2021 Senior Notes"). The 2021 Senior Notes are fully guaranteed by the Company. The total debt issuance cost of $3.0 million incurred in connection with the 2021 Senior Notes offering is being amortized over the life of the 2021 Senior Notes as additional interest expense. As of December 31, 2024 and March 31, 2025, the amount outstanding under the 2021 Senior Notes, net of debt amortization expense of