JSW Infrastructure has issued a corporate guarantee of USD 126 million to Axis Trustee Services for a financial aid to be availed by its subsidiary JSW Terminal (Middle East) FZE.
New Delhi, Nov 29 (PTI) JSW Infrastructure on Wednesday said it has issued a corporate guarantee of USD 126 million in favour of Axis Trustee Services Ltd for a financial aid to be availed of by its wholly owned subsidiary JSW Terminal (Middle East) FZE.
The corporate guarantee has been issued at the GIFT City branch of Axis Trustee Services Ltd, JSW Infrastructure said in an exchange filing.
JSW Terminal (Middle East) FZE has agreed to avail of financial assistance by way of a term facility of an aggregate principal amount not exceeding USD 120 million from Axis Bank Ltd for the purpose of the acquisition of equity shares of the Marine Oil Terminal Corp.
"In order to secure the borrowing, the company has agreed to issue corporate guarantee of an amount not exceeding USD 126 million (105 per cent of the principal amount) in favour of Axis Trustee Services Ltd (GIFT city branch)," JSW Infratsructure said.
Part of Sajjan Jindal-owned JSW Group, JSW Infrastructure a port-related infrastructure company. Its ports and terminals currently have an installed cargo handling capacity of 153.43 million tonnes per annum.
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