<h1>Maximus International Ltd Provides Corporate Guarantee of KES 169 Million for Quantum Lubricants Kenya</h1>
Maximus International Ltd has agreed to provide a corporate guarantee and indemnity in favor of Stanbic Bank Kenya Limited, supporting its subsidiary, Quantum Lubricants (E.A.) Limited (QLL), as the latter seeks a credit facility.
The decision was approved by the Board of Directors after consideration of the transaction. The guarantee involves QLL, which operates as a step-down subsidiary based in Nairobi, Kenya, and is linked to MX Africa Limited.
The company's commitment guarantees the repayment obligations of Quantum Lubricants (E.A.) Limited up to an amount of KES 169,000,000. This guarantee is provided in favor of Stanbic Bank Kenya Limited for the credit facility availed by QLL.
Details regarding the corporate guarantee and indemnity are summarized below:
| Particulars | Detail |
|---|---|
| Beneficiary Entity | Stanbic Bank Kenya Limited |
| Guaranteed Party | Quantum Lubricants (E.A.) Limited (QLL) – Step down subsidiary in Nairobi, Kenya |
| Guarantee Amount | KES 169,000,000 |
| Transaction Nature | Corporate guarantee and indemnity for QLL's repayment obligations |
The transaction is based on standard terms for such a corporate guarantee. According to the company details, neither Maximus International Ltd nor its promoter group has any interest in the credit facility being taken by QLL or the corporate guarantee issued. The arrangement is confirmed to be conducted on an arm's length basis.
Stock Price Movement
Maximus International Ltd.'s shares settled at ₹13.24 on Wednesday, holding steady with zero change for the day. Throughout trading, the stock moved within a range defined by an intraday low of ₹13.00 and a high of ₹13.39.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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