Varun Beverages Ltd Issues Corporate Guarantee for Subsidiary in Favour of JPMorgan Chase Bank
Varun Beverages Ltd announced the issuance of a Corporate Guarantee on behalf of its subsidiary, The Beverage Company Proprietary Limited (Bevco). The guarantee has been extended to JPMorgan Chase Bank, N.A., acting through its Johannesburg branch.The Corporate Guarantee, amounting to ZAR 770 Million, is designed to secure a credit facility extended to Bevco. The guarantee remains valid until April 21, 2029.
According to the details provided, the transaction involves Bevco, which is a subsidiary of Varun Beverages Limited, located in South Africa. The group confirmed that the promoter or promoter group does not have any direct interest in this transaction, ensuring that the arrangement is executed at an arm's length basis.
The listed entity affirmed that the Corporate Guarantee does not have any material impact on Varun Beverages Ltd.
Key details regarding the guarantee are summarized below:
| Particulars | Detail |
|---|---|
| Guaranteed Entity | The Beverage Company Proprietary Limited (Bevco) |
| Beneficiary Bank | JPMorgan Chase Bank, N.A. (Johannesburg branch) |
| Guarantee Amount | ZAR 770 Million |
| Validity Period | Up to April 21, 2029 |
| Purpose | To secure a credit facility extended to Bevco |
| Group Interest | None; transaction is at arm's length |
| Impact on Company | No impact |
VBL Stock Price Movement
Shares of Varun Beverages Limited are edging higher to ₹494.95 as of 2:58 PM today, rallying 2.03% in live trading on a ₹9.85 jump. The stock is demonstrating strong momentum, trading on a robust volume of 10.19 million shares.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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