Date: October 22, 2026
Board Meeting Outcomes
This disclosure provides an update to the previous disclosure dated July 14, 2026, where the Board of Directors had approved a project relating to Sugarcane Plantation and setting up of a Sugar Manufacturing Unit of 3500 TCD along with Co-gen facility of 20 MW in Tanzania ("Project") through Eagle Agrotech Tanzania Limited ("EATL"), a Wholly Owned Subsidiary Company of EAHL, involving estimated project cost of US$132 Million.
Fundraising / Financing
EATL has on October 20, 2026 executed a Facility Agreement with CRDB Bank Public Limited Company for $87.5 Million (equivalent in Tanzanian currency) Term Loan.
Key terms of the Facility Agreement:
- Term Loan amount: $87.5 Million (equivalent in Tanzanian currency)
- Lender: CRDB Bank Public Limited Company ("CRDB")
- Borrower: Eagle Agrotech Tanzania Limited ("EATL")
- Loan tenure: 10 years
- Interest rate: Floating rate
- Execution date: October 20, 2026
Collateral Arrangement
Dalmia Bharat Sugar and Industries Limited (DBSIL) shall sponsor Standby Letter of Credit ("SBLC") as a collateral security, covering 51% of the principal amount. The quantum of SBLC will change each year depending on the expected principal outstanding/drawdown expected by end of each year from the date of Agreement.
Corporate Relationships
EATL is a step-down subsidiary of Dalmia Bharat Sugar and Industries Limited (DBSIL). The Facility Agreement between CRDB and EATL is not a related party transaction. However, provision of SBLC by DBSIL to CRDB as a collateral security will be a related party transaction and same will be at arm's length.
Impact Assessment
The agreement will not have any impact on management or control of DBSIL. The disclosure confirms that DBSIL does not hold any shareholding in CRDB Bank, the counterparty to the agreement.