Prestige Estates issues corporate guarantee for joint venture loan
Prestige Estates Projects Limited has disclosed the issuance of a corporate guarantee for a term loan facility being availed by its joint venture, Thomsun Realtors Private Limited. The guarantee, up to a value of INR 4,500,000,000, has been provided to The Hongkong and Shanghai Banking Corporation Limited.
The company stated that the promoter group has no interest in the transaction and the corporate guarantee has been provided on an arm's length basis, complying with relevant regulations. Prestige Estates clarified that the guarantee represents a contingent liability and is not expected to have an immediate impact on the company's financials. The disclosure was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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