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 125 million (approximately 125 million Saudi Riyal) on behalf of its subsidiary, Al Sharif Group & KEC Limited Company. The guarantee was issued on April 8, 2026, in favour of an overseas bank that has extended banking facilities to the subsidiary. The company has clarified that promoter/promoter group have no interest in this transaction and it is conducted at arm's length. KEC International states this is a potential contingent liability but currently has no impact on the company.
This is a routine disclosure with no immediate financial impact. The guarantee enhances the subsidiary's borrowing capacity but creates a contingent liability if the subsidiary defaults on its bank loans.