NEW YORK, NY, Apr 02, 2009 (MARKET WIRE via COMTEX) -- WNS (Holdings) Limited (NYSE: WNS), a leading provider of global
business process outsourcing (BPO) services, today announced that it
intends to make a voluntary prepayment of $5 million on its existing
$200 million term loan facility in early April 2009 as permitted
under the terms of the loan agreement.
The loan, which matures in January 2013, was used to finance the July
2008 acquisition of Aviva Global Services, the captive BPO business of
Aviva, one of the world's largest insurance groups. WNS will also
make a scheduled $20 million payment on the facility in July 2009,
pursuant to the terms of the loan agreement.
"Our ability to make a meaningful prepayment on this facility using
our available cash is indicative of the cash flows generated by our
business, our strong balance sheet and the overall financial health of
WNS, as well as the successful integration of Aviva Global Services
into the rest of our company," said Alok Misra, WNS's Group CFO.
"Depending on market conditions, we will consider making additional
prepayments on this loan in the future in an effort to further reduce
our interest expense."
The company had $36 million in cash as of December 31, 2008, and a
cash balance close to $50 million as of the end of March 2009.
WNS is a leading global business process outsourcing company. Deep
industry and business process knowledge, a partnership approach,
comprehensive service offering and a proven track record enable WNS to
deliver business value to some of the leading companies in the world.
WNS is passionate about building a market-leading company valued by
our clients, employees, business partners, investors and communities.
For more information, visit www.wns.com
Safe Harbor Statement under the provisions of the United States
Private Securities Litigation Reform Act of 1995
This news release contains forward-looking statements, as defined in
the safe harbor provisions of the US Private Securities Litigation
Reform Act of 1995. These forward-looking statements include
statements regarding our pending prepayment and scheduled payment on
our loan facility as well as potential prepayment on the loan
facility in the future. These statements involve a number of risks,
uncertainties and other factors that could cause actual results to
differ materially from those that may be projected by these forward
looking statements. These risks and uncertainties include but are not
limited to technological innovation; telecommunications or technology
disruptions; future regulatory actions and conditions in our
operating areas; our dependence on a limited number of clients in a
limited number of industries; our ability to attract and retain
clients; our ability to expand our business or effectively manage
growth; our ability to hire and retain enough sufficiently trained
employees to support our operations; negative public reaction in the
US or the UK to offshore outsourcing; regulatory, legislative and
judicial developments; increasing competition in the business process
outsourcing industry; political or economic instability in India, Sri
Lanka and Jersey; worldwide economic and business conditions,
including a slowdown in the US and Indian economies and in the
sectors in which our clients are based and a slowdown in the BPO and
IT sectors world-wide; our ability to successfully grow our revenues,
expand our service offerings and market share and achieve accretive
benefits from our acquisition of Aviva Global Services Singapore
Private Limited and our master services agreement with Aviva Global
Services (Management Services) Private Limited; our ability to
successfully consummate strategic acquisitions, as well as other risks
detailed in our reports filed with the US Securities and Exchange
Commission. These filings are available at www.sec.gov. We may, from
time to time, make additional written and oral forward-looking
statements, including statements contained in our filings with the
Securities and Exchange Commission and our reports to shareholders.
You are cautioned not to place undue reliance on these
forward-looking statements, which reflect management's current
analysis of future events. We undertake no obligation to publicly
update or revise any forward-looking statements, whether as a result
of new information, future events or otherwise.
VP -- Investor Relations
WNS (Holdings) Limited
+1 212 599-6960 ext. 241
+1 212 279-3115 ext. 203
SOURCE: WNS Global Services