KEC International Issues AED 300M Guarantee for Subsidiary

KEC International Ltd has issued a Corporate Guarantee of AED 300 million on behalf of its subsidiary, Al Sharif Group & KEC Limited Company. This guarantee is for enhanced credit facilities extended by an overseas bank and replaces an earlier guarantee of AED 181.50 million. The transaction does not involve any interest from promoters or group companies and is conducted at arm's length. While it represents a potential contingent liability, it currently has no impact on KEC International.