State Bank of India to raise $300mln loan for HCL Tech

According to a source, India's largest lender plans to market the syndicated loan in UK.  

State Bank of India is in talks to raise a $300 million syndicated loan for software company HCL Technologies Ltd., a person close to the development said Nov. 10 in a report in Wall Street Journal. 

The loan is expected to be raised at 425 basis points above the London Interbank Offered Rate, the person told Dow Jones Newswires, asking not to be named. 

The loan will have a five-year tenor and the state-run bank will market it in the U.K., the person added.