Senores Pharmaceuticals Limited has informed the Exchange regarding issuance of Corporate Guarantee for the credit facilities availed by Senores Pharmaceuticals Inc. USA, Wholly Owned Subsidiary of the Company from HDFC Bank Limited.
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Senores Pharmaceuticals has issued a corporate guarantee of up to USD 4.1 million (approximately ₹35 crore) in favor of HDFC Bank Limited. This guarantee secures credit facilities availed by its wholly-owned US subsidiary, Senores Pharmaceuticals Inc. (SPI). The guarantee is dated March 3, 2026, with a maximum tenure of 10 years, and remains valid until the credit facilities are closed. The transaction is described as being conducted at arm's length. The company clarified that promoters have interest only to the extent of their directorship in the subsidiary.
This is a routine inter-group financial support for the US subsidiary's growth/working capital needs. For shareholders, it represents a contingent liability on Senores' books, meaning if SPI defaults, the parent company would have to honor the guarantee. No immediate material impact on financials, but it increases the parent company's off-balance-sheet exposure to its US operations.