By Kenan Machado and Bijou George

Of DOW JONES NEWSWIRES

MUMBAI (Dow Jones)–iGate Corp. (IGTE) plans to raise between $500 million and $700 million through a dollar-denominated bond issue to refinance the bulk of a bridge loan it arranged to acquire India’s Patni Computer Systems Ltd. (532517.BY), Chief Executive Phaneesh Murthy said Tuesday.

The U.S.-listed software services company plans to sell the bonds in the first half of 2011, and expects to pay 9.0%-9.5% on them, Murthy told Dow Jones Newswires.

iGate said Monday it and private-equity firm Apax Partners agreed to buy a 63% stake in the Indian outsourcing …