Sterling and Wilson Renewable Energy issued a Parent Company Guarantee for USD 34 million (INR 317 crore) to Nedbank Limited.
The guarantee secures a non-fund based working capital facility for its step-down subsidiary Sterling and Wilson Engineering (Pty) Ltd.
The guarantee is valid until November 11, 2032 and constitutes a contingent liability for the company.
The transaction is disclosed as being at arm's length with no promoter interest.