Hinduja Global Solutions Limited (HGS), a global leader in business process management (BPM), has reaffirmed its commitment to supporting its wholly-owned subsidiary, HGS CX Technologies Inc., by extending a corporate guarantee of US$ 60.5 million for a loan originally obtained from Standard Chartered Bank.
The initial corporate guarantee, issued in August 2023, was for a US$ 55 million loan taken by HGS CX Technologies Inc. The subsidiary recently agreed to a loan rollover through an 'Amendment and Restatement Agreement,' prompting the parent company, HGS, to extend its existing guarantee to align with the revised terms of the loan.
The extended guarantee will now be valid until January 2030. HGS has stated that this financial commitment will not negatively impact its financial standing, as the company and its subsidiaries have sufficient resources to cover the obligation.
This move demonstrates HGS's confidence in the long-term success and growth potential of HGS CX Technologies Inc. By providing financial backing, HGS is actively supporting its subsidiary's operations and expansion plans.
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