Loan & Debt29 Nov 2024, 12:27 am
Hinduja Global Solutions to Provide CAD 40 Million Guarantee to Metrolinx
AI Summary
Hinduja Global Solutions Limited has approved to provide a guarantee of CAD 40 million from the company to Metrolinx, a Canadian public sector organization. This guarantee is for executing the contract for Digital Services and Back Office Services by HGS Canada Inc., a step-down Wholly Owned Subsidiary of the company. The expected revenues for HGS Canada Inc. over the initial 6 years period of the contract are approximately CAD 36 million.
Key Highlights
- Hinduja Global Solutions to provide a guarantee of CAD 40 million to Metrolinx
- Guarantee for executing the contract for Digital Services and Back Office Services by HGS Canada Inc.
- Expected revenues for HGS Canada Inc. over the initial 6 years period of the contract are approximately CAD 36 million
- Guarantee would subsist during the tenure of contract (i.e. initial period of 6 years with an option for two renewals of three years each)
- No adverse financial impact is foreseen / expected for the company and its subsidiaries