Wipro is in talks with about half a dozen foreign investment banks to raise more than $1 billion in short-term overseas loans or long-term offshore bonds to part fund its acquisition of British IT consultancy Capco, said three people familiar with the development. The company is also considering a combination of loans and bonds, one of them said. A final decision hasn’t yet been taken.

Wipro said March 4 it will acquire Capco for $1.45 billion, its largest purchase, as it seeks a boost in banking, financial services and insurance (BFSI) space. “In our announcement, we mentioned that we will fund the Capco acquisition through a combination of internal accruals and debt. We do not have any additional comment on the subject,” Wipro said in an email response.

Wipro may explore a maiden overseas bond sale to raise as much as $750 million with three or five-year maturity, said the people cited above. The company has a cash balance of $5.8 billion but an overseas fundraising will pave the way for future acquisitions and business expansion.

The company is also said to be exploring short-term foreign currency loans of up to $1.4 billion of 6-12 months that will be refinanced by long-term overseas bonds, said the people cited above.