Board of Kalyan Jewellers India approves to provide guarantee to subsidiarys note issuance

18 Jan 2022 , 01:32 AM

The Board of Directors of Kalyan Jewellers India in its meeting held on 14 January 2022 has granted its approval to provide an unconditional and irrevocable guarantee the Guarantee of upto US$ 200 MM for the Senior US dollar denominated fixed rate notes the Notes with the tenure of 5 years being considered for issuance by Kalyan Jewellers FZE a wholly-owned subsidiary of the Company Further the proceeds from the issuance of the Notes will be used primarily for refinancing of existing borrowings as well as payment of transaction fees and general corporate purpose in accordance with applicable laws The issuance of the Notes is subject to appropriate market conditions