Kalyan Jewellers to provide guarantee for subsidiary's proposed bond issuance of USD 200 Mn

Kalyan Jewellers India announced that the Board of Directors of the company's subsidiary, Kalyan Jewellers FZE has on 03 April 2022 approved the potential issuance of fixed rate, senior U.S. dollar denominated notes for an aggregate principal amount of up to US$ 200 million, subject to market condition.

The Notes will be guaranteed by the Company by way of a corporate guarantee. The net proceeds of the Notes are intended to be utilized primarily for refinancing of existing borrowings, as well as payment of transaction fees and general corporate purpose in accordance with applicable laws. The Notes are proposed to be listed on the Singapore Stock Exchange. The issuance of the Notes is subject to appropriate market conditions.

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