iGATE enters into new credit sgreement

NEW JERSEY, USA: iGATE Corp. announced that on November 22, 2013 (the "Closing Date"), Pan-Asia iGATE Solutions ("Pan-Asia"), a 100 percent owned subsidiary of iGATE entered into a credit agreement (the "Credit Facility") for a secured term loan facility with DBS Bank Ltd and ING Bank N.V., Singapore (the lenders) with ING Bank N.V., Singapore, as security agent (the "Security Agent").

The company, along with several of its 100 percent owned subsidiaries, has entered into a Guaranty (the "Guaranty") with the Security Agent, under which the Company has guaranteed all of the obligations of Pan-Asia under the Credit Facility.

The Credit Facility has two components, Facility A and Facility B. Facility A has a commitment amount of $270.0 million and an interest rate of LIBOR+3.25 percent and Facility B has a commitment amount of $90 million and an interest rate of LIBOR+2 percent.

Facility A will mature 60 months from utilization date while Facility B will mature 9 months from utilization date. The Credit Facility contains customary representations and warranties, events of default and affirmative, negative covenants and financial covenants.