Coromandel International Limited announced on June 11, 2025, that it has issued a corporate guarantee in favor of Citibank N.A. for the working capital facility of its subsidiary, Baobab Mining & Chemicals Corporation, S.A., Senegal (BMCC).

• BMCC is availing a working capital facility of USD 21 Million (equivalent to XOF 12,600 million or XOF 1,260 crore).
• The corporate guarantee issued by Coromandel International Limited amounts to USD 23.1 Million (being 110% of the working capital facility, equivalent to XOF 13,860 million or XOF 1,386 crore).
• Baobab Mining & Chemicals Corporation is a subsidiary held through Coromandel Chemicals Limited (CCL), which is a wholly-owned subsidiary of Coromandel International Limited.
• The transaction is stated to be at arm's length basis.
• The corporate guarantee will be a contingent liability for Coromandel International Limited, limited to USD 23.1 Million (XOF 1,386 crore). The company may be required to pay under the guarantee if BMCC fails to do so.