KEC International Limited has informed the Exchange about issuance of Corporate Guarantee on behalf of its Subsidiary Company.
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KEC International has issued a corporate guarantee of SAR 123.75 Million (Saudi Arabian Riyals) on behalf of its subsidiary, Al Sharif Group & KEC Limited Company. The guarantee is in favor of an overseas bank that has extended a banking facility to the subsidiary. The guarantee was issued on August 9, 2025. The company has stated that promoters and group companies have no interest in this transaction, and there is currently no impact on the listed entity, though it represents a contingent liability.
This is a contingent liability for KEC International. While the company says there is no immediate impact, shareholders should note that if the subsidiary defaults on its obligations, KEC International would be liable to the overseas bank. It also signals the parent is supporting its subsidiary's overseas borrowing needs.