Prestige Estates Issues ₹21.1 Billion Corporate Guarantee For Subsidiary Loan

Prestige Estates Projects Ltd. on Monday said it has issued a corporate guarantee worth up to ₹21.1 billion to State Bank of India and Catalyst Trusteeship Ltd. for a loan taken by its subsidiary, Prestige (BKC) Realtors Pvt. Ltd.

The company said in a filing that the guarantee is on an arm's length basis and is a contingent liability. The guarantee has been extended on behalf of a group subsidiary, and there is no immediate impact on Prestige Estates, it added.