Loan & Debt29 Jul 2025, 08:31 pm
Cohance Lifesciences Provides $16.5M Guarantee to Citibank for Subsidiary's $15M Credit Facility
AI Summary
Cohance Lifesciences Ltd. has provided a corporate guarantee of up to USD 16.5 million to Citibank N.A. for a credit facility of up to USD 15 million availed by its subsidiary, NJ Bio Inc., based in New Jersey, USA. The guarantee is intended to support NJ Bio Inc.'s requirements in the area of bioconjugation for Antibody-Drug Conjugates (ADCs), thereby strengthening the group’s global CDMO capabilities. The liability of Cohance Lifesciences under the corporate guarantee shall not exceed USD 16.5 million.
Key Highlights
- Cohance Lifesciences provides a $16.5M guarantee for its subsidiary's $15M credit facility
- Guarantee aims to support NJ Bio Inc.'s bioconjugation requirements for Antibody-Drug Conjugates (ADCs)
- The facility strengthens Cohance's global CDMO capabilities
- Cohance's guarantee liability is capped at $16.5M
- The credit facility is provided by Citibank N.A. to NJ Bio Inc., a subsidiary of Cohance Lifesciences