Granules India Extends ₹2.7 Billion Guarantee For Swiss Unit’s MUFG Bank Loan

Granules India Ltd. on Wednesday said it has provided a corporate guarantee worth 25.50 million Swiss francs, or around ₹2.74 billion, in favour of its Switzerland-based step-down subsidiary Senn Chemicals A.G.

The guarantee has been extended to the Singapore branch of MUFG Bank Ltd. to secure a credit facility for Senn Chemicals, the company said in an exchange filing. Granules India noted that this guarantee will be treated as a contingent liability in its books.