Nephrocare Issues Corporate Guarantees Worth $11.3M for Subsidiaries

Nephrocare Health Services Ltd has issued corporate guarantees and provided collateral support for its overseas subsidiaries, Nephrocare Health Care Services Philippines Inc. (NHCSPI) and Nephrocare Health Services International Pte. Ltd. (NHSI). A corporate guarantee of USD 5,500,000 (INR 52.46 Crore) was provided to Citibank N.A. for NHCSPI's credit facilities. Additionally, collateral support was given to HSBC for NHSI's fund-based and non-fund-based credit facilities, amounting to USD 3,315,622 (INR 31.26 Crore). These transactions are undertaken in the ordinary course of business and on an arm's length basis, with no direct interest from promoters other than their shareholding in the parent company.