Prestige Estates Projects Limited has informed the Exchange about issuing Corporate Guarantee towards Term Loan Facility being availed by Thomsun Realtors Private Limited, Joint Venture.
PRESTIGE · price
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Awaiting price reaction for this filing.
Prestige Estates Projects Limited has issued a corporate guarantee of up to ₹450 crore (INR 4,500,000,000) to The Hongkong and Shanghai Banking Corporation Limited (HSBC) on behalf of Thomsun Realtors Private Limited, its joint venture entity, to secure a new term loan facility. The filing is made under SEBI's Regulation 30 disclosure requirements dated November 11, 2024. The company has confirmed the transaction is on an arm's length basis and that promoters/promoter group have no interest in it. The guarantee is classified as a contingent liability with no immediate financial impact on Prestige.
The guarantee adds ₹450 crore to Prestige's contingent liabilities. While not impacting financials today, any default by the JV would expose Prestige to repayment obligation, posing a potential future cash flow risk worth monitoring.