Cohance Lifesciences Limited has informed the Exchange about Giving guarantee
COHANCE · price
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Cohance Lifesciences has given a corporate guarantee of up to USD 16.5 million to Citibank N.A. to secure a credit facility of up to USD 15 million being availed by its US-based subsidiary, NJ Bio Inc. The facility will fund NJ Bio's bioconjugation work for Antibody-Drug Conjugates (ADCs), strengthening the group's global CDMO capabilities. The guarantee is valid until June 30, 2028, is at arm's length, and has no promoter group interest. In case the subsidiary fails to repay, Cohance will be liable to pay up to USD 16.5 million on demand, making this a contingent liability of equal size.
The guarantee creates a contingent liability of up to USD 16.5 million (~₹138 crore) but supports the subsidiary's growth in the high-potential ADC segment, which could boost long-term earnings. Shareholders should note the exposure to subsidiary-level credit risk until the facility is repaid or expires in June 2028.