Torrent Pharmaceuticals Ltd issues corporate guarantee to MUFG Bank Ltd

Torrent Pharmaceuticals Ltd has issued Corporate Guarantee to MUFG Bank Ltd., ('bank') for an amount upto USD 80 Million in respect of the credit facility availed / to be availed by Torrent Pharma Inc. (TPI), USA, a wholly owned subsidiary of the Company.

The guarantee agreement has been entered to guarantee the credit facility for an amount upto USD 75 Million availed / to be availed by Torrent Pharma Inc. (TPI), USA. The amount of guarantee is for an amount upto USD 80 Million to cover due repayment of the facility amount plus interest thereon (along with any other costs, charges, fees and expenses).

The Corporate Guarantee issued will be the contingent liability in the books of the Company.

Shares of Torrent Pharmaceuticals Limited was last trading in BSE at Rs. 3059.40 as compared to the previous close of Rs. 3083.15. The total number of shares traded during the day was 6742 in over 1456 trades.

The stock hit an intraday high of Rs. 3084.00 and intraday low of 3005.80. The net turnover during the day was Rs. 20531274.00.

Source : Equity Bulls

Keywords

TorrentPharmaceuticals INE685A01028 TORNTPHARM CorporateGuarantee