KEC International has issued a new Corporate Guarantee valued at AED 300 million on August 19, 2026. This guarantee is in favour of an overseas bank for enhanced credit facilities extended to Al Sharif Group & KEC Limited Company. The new guarantee will substitute a previous one of AED 181.50 million. While it represents a potential contingent liability, it currently has no immediate impact on the listed entity.
Corporate Guarantee Issued
KEC International has announced the issuance of a significant Corporate Guarantee on August 19, 2026. The guarantee amounts to AED 300 million and is provided to an overseas bank. This facility is intended to support enhanced credit arrangements for Al Sharif Group & KEC Limited Company.
Details of the Guarantee
This new Corporate Guarantee will replace a previous guarantee of AED 181.50 million, previously issued to the same bank. The primary purpose is to secure enhanced credit facilities for the group. KEC International’s role as a guarantor makes this a potential contingent liability for the company. However, as of the announcement date, the company stated that there is no immediate impact of this guarantee on the listed entity.
Parties Involved
The guarantee is issued by KEC Limited Company, with Al Sharif Group being the subsidiary of the Company. The promoter and promoter group companies have confirmed they hold no interest in this transaction, ensuring it is conducted at an arm’s length basis.
Source: BSE
