Prestige Estates guarantees subsidiary loan facility

Prestige Estates Projects Limited (PEPL) is issuing a corporate guarantee for a term loan facility being availed by its wholly-owned subsidiary, Prestige Falcon Malls Private Limited. This transaction secures a facility of up to INR 550 Crores.

The corporate guarantee is extended to DBS Bank India Limited / Catalyst Trusteeship Limited. PEPL confirms that neither the promoter nor the promoter group has any interest in this transaction, which has been executed on an arm's length basis.

The company stated that the corporate guarantee represents a contingent liability for PEPL but currently has no direct impact on the listed entity, as it supports a wholly-owned subsidiary within the consolidated group.