Gland Pharma issues Corporate Guarantee of EUR 20 Mn for subsidiary

Gland Pharma Limited has issued a Corporate Guarantee of EUR 20 Million in favor of MUFG Bank (Europe) N.V. This guarantee is to secure an initial draw-down limit of EUR 18 Million under a EUR 50 Million Uncommitted Revolving Facility Agreement entered into by its wholly owned step-down subsidiary, Phixen SAS. The facility is valid for 3 years, and the corporate guarantee is valid until March 31, 2030. The guarantee will be treated as a contingent liability for Gland Pharma, meaning the company would be liable to repay the draw-down amount and interest if Phixen SAS defaults. The company may extend the guarantee limit if Phixen SAS's draw-down limits increase.