Alkem Labs issues €54.45M corporate guarantee for subsidiary Occlutech

Alkem Laboratories Ltd. has issued a corporate guarantee of Euro 54.45 Million to HSBC UK Bank plc. This guarantee supports a term loan of Euro 49.5 Million availed by M/s. Occlutech Holding AG, a step-down subsidiary of Alkem located in Switzerland. The company confirmed that the transaction is at arm’s length and that the promoter/promoter group/group companies have no interest in this transaction. This corporate guarantee creates a contingent liability for Alkem Laboratories, meaning the company would be responsible for the debt if Occlutech defaults on its loan.