Loan & Debt20 May 2026, 04:01 pm
Hester Bio: Hester Africa Loan Agreement Amended with Gates Foundation
AI Summary
Hester Biosciences Ltd announced amendments to the loan agreement between its wholly-owned subsidiary, Hester Biosciences Africa Limited, and the Gates Foundation. Key changes include reducing the outstanding loan to USD 5 million, waiving accrued interest, setting no interest on the remaining loan amount, and revising the repayment schedule. Hester India's corporate guarantee continues, with the amendments expected to improve Hester Africa's liquidity and debt servicing.
Key Highlights
- Hester Africa's outstanding loan from Gates Foundation reduced to USD 5 million.
- Accrued interest on the loan has been waived.
- No interest will be charged on the remaining loan amount.
- Loan repayment schedule has been revised and tenor extended.
- Hester India's corporate guarantee remains in effect.
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