Jubilant Foodworks gives corporate guarantee to HSBC regards to loan proposed for Netherlands arm; Stock ends 2% up

In its regulatory filing, Jubilant Foodworks said that the loan is being taken, and the corporate guarantee is being issued on an arm’s length basis.

Oct 27, 2021 04:10 IST India Infoline News Service

Jubilant FoodWorks
Jubilant Foodworks on Wednesday announced that the company has issued a corporate guarantee in favour of The Hongkong and Shanghai Banking Corporation Limited (“HSBC”) in relation to a loan proposed to be taken by Jubilant Foodworks Netherlands B.V.

Jubilant Foodworks Netherlands B.V is a wholly-owned subsidiary of Jubilant Foodworks.

In its regulatory filing, Jubilant Foodworks said that the loan is being taken, and the corporate guarantee is being issued on an arm’s length basis.

The corporate guarantee will be issued by the Company on terms which are standard for such a guarantee, guaranteeing the repayment obligations of the JFN up to an amount of EUR 45,885,000. The corporate guarantee will remain valid till full repayment of loan or 1st
April 2027 whichever is earlier.

On Sensex, Jubilant Foodworks finished at Rs3780.50 per piece up 1.7%. 

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