Board of Kalyan Jewellers India approves to provide guarantee to subsidiary's note issuance

17-01-2022 14:15 PM

The Board of Directors of Kalyan Jewellers India in its meeting held on 14 January 2022, has granted its approval to provide an unconditional and irrevocable guarantee (the Guarantee) of upto US$ 200 MM for the Senior U.S. dollar denominated fixed rate notes (the Notes) with the tenure of 5 years, being considered for issuance by Kalyan Jewellers FZE, a wholly-owned subsidiary of the Company.

Further, the proceeds from the issuance of the Notes will be used primarily for refinancing of existing borrowings, as well as payment of transaction fees and general corporate purpose in accordance with applicable laws. The issuance of the Notes is subject to appropriate market conditions.

Courtesy: Business Standard

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