Alkem Labs Issues 54.45 Mn Euros Guarantee for Step-Down Subsidiary Occlutech's HSBC Loan
New Delhi: Alkem Laboratories Limited has issued a corporate guarantee of 54.45 million Euros to HSBC UK Bank plc for a 49.5 Euros million term loan availed by its step-down subsidiary, Occlutech Holding AG, in Switzerland.
According to the company, the corporate guarantee has been issued to HSBC UK Bank plc for the term loan of €49.5 million availed by Occlutech Holding AG.
Alkem said that the promoter, promoter group and group companies do not have any interest in the transaction and that the corporate guarantee has been issued at arm’s length.
The company stated that the guarantee represents a contingent liability, under which Alkem Laboratories would have to make payment in the event of a default by Occlutech.
Occlutech Holding AG is a step-down subsidiary of Alkem Laboratories based in Switzerland.
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Alkem has established manufacturing and research capabilities supporting the development and production of pharmaceutical formulations and active pharmaceutical ingredients. Its operations include manufacturing facilities and research and development activities associated with pharmaceutical product development.
The company has also developed an international business with products marketed across various global markets. Its operations outside India form part of its broader pharmaceutical business, with the company supplying medicines across multiple therapeutic categories.
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