Company: G
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001398659-25-000098
Chunk: 112

Company: Genpact LTD
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 112
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 proceeds from borrowings (net of repayments and debt issuance and refinancing costs), amounting to $71.8 million in the six months ended June 30, 2025 compared to $366.8 million in the six months ended June 30, 2024, (ii) higher payments for the net settlement of stock-based awards, amounting to $30.9 million in the six months ended June 30, 2025 compared to $21.1 million in the six months ended June 30, 2024, and (iii) higher dividend payments of $59.4 million in the six months ended June 30, 2025 compared to $54.8 million in the six months ended June 30, 2024.

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Financing Arrangements

In December 2022, we entered into an amended and restated credit agreement (the "2022 Credit Agreement") with Genpact USA, Inc. (“Genpact USA”), Genpact Global Holdings (Bermuda) Limited (“GGH”) and Genpact Luxembourg S.à r.l. (“Genpact Luxembourg”, and together with Genpact USA and GGH, the “Borrowers”), as borrowers, Wells Fargo Bank, National Association (“Wells Fargo”), as administrative agent, swingline lender and issuing bank, and the lenders and other parties thereto, which consists of a $530.0 million term loan and a $650.0 million revolving credit facility. An additional third-party fee paid in connection with the 2022 Credit Agreement is being amortized over the duration of the term loan and revolving credit facility, which expire on December 13, 2027. In connection with our entry into the 2022 Credit Agreement, we terminated our previous credit facility under our amended and restated credit agreement entered into in August 2018 (the “2018 Credit Agreement”) with the Borrowers, as borrowers, Wells Fargo, as administrative agent, and the lenders and other financial institutions party thereto, which was comprised of a $680.0 million term loan and a $500.0 million revolving credit facility. The 2022 Credit Agreement replaced the 2018 Credit Agreement.

The 2022 Credit Agreement is guaranteed by us and certain of our subsidiaries. The obligations under the 2022 Credit Agreement are unsecured.

Borrowings under the 2022 Credit Agreement bear interest at a rate equal to, at our election, either Adjusted Term SOFR (