Loan & Debt11 Sept 2026, 09:10 pm
United Foodbrands Issues ₹17 Cr Bank Guarantee for Subsidiary Loan
AI Summary
United Foodbrands Ltd has provided a bank guarantee in the form of a Stand-by Letter of Credit (SBLC) amounting to ₹17,00,00,000/- through ICICI Bank. This guarantee is in connection with a Foreign Currency Term Loan (FCTL) availed by Barbeque Nation Restaurant LLC, a wholly owned step-down subsidiary. The guarantee will be issued in tranches aligned with the FCTL drawdown. The company states this is a contingent liability with no immediate impact and is conducted on an arm's length basis, with promoters having no interest in the transaction. The details are in compliance with SEBI LODR Regulations.
Key Highlights
- Company issued ₹17 Cr SBLC for subsidiary's foreign currency loan.
- Guarantee is for Barbeque Nation Restaurant LLC, a step-down subsidiary.
- SBLC issued via ICICI Bank, linked to FCTL drawdown.
- Transaction is a contingent liability with no immediate impact.
- Promoters have no interest; transaction is on arm's length basis.
Price Impact
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