Announcement under Regulation 30 of Listing Regulation - Amendments in Loan agreement of Hester Africa
HESTERBIO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Hester Biosciences' wholly-owned subsidiary Hester Africa has executed amendments to its loan agreement with Gates Foundation. The outstanding loan has been reduced from USD 12 million to USD 5 million, accrued interest amounts have been waived, and no interest will be charged on the remaining loan amount. The repayment schedule has also been revised with extended tenor. The company's corporate guarantee continues but remains limited to existing obligations. The amendments are expected to improve the liquidity and debt servicing position of the subsidiary.
This is a positive development for the subsidiary as the debt burden has been significantly reduced, improving its financial health. The company's exposure remains limited to the corporate guarantee, minimising direct impact on Hester India's financials.