SAMHI Hotels Executes Corporate Guarantee for US$61.5M Citibank Loan Facility

What's the deal? SAMHI Hotels Limited has executed a Deed of Guarantee and Undertaking in favour of Citibank N.A. to support a loan facility for its wholly-owned subsidiary, SAMHI Hotels (Ahmedabad) Private Limited. The guarantee covers a facility of up to US$61.5M (US$61.5M).

The arrangement falls under the company's existing rupee facilities agreement, with Vistra ITCL (India) Limited acting as Security Trustee. SAMHI Hotels will guarantee repayment of all amounts owed by the subsidiary under the facilities.

• Facility amount: US$61.5M
• Lender: Citibank N.A.
• Beneficiary: SAMHI Hotels (Ahmedabad) Private Limited (100% subsidiary)
• Security Trustee: Vistra ITCL (India) Limited
• Transaction basis: Arm's length

Management has confirmed the financial arrangement carries no material impact on the parent entity, underscoring its commitment to operational stability while supporting the growth initiatives of its subsidiary portfolio.

Source: investywise.com