Hospital Operator NMC Asks Lenders for Informal Standstill - Bloomberg:
Troubled hospital operator NMC Health Plc asked lenders for an informal standstill on its debt agreements as it tries to safeguard enough cash to keep running.
“NMC is currently fully focused on safeguarding operational liquidity,” the company said Monday. “The informal standstill includes a request to lenders not to exercise any rights and remedies that may arise from any current or future defaults.”
The company said it hired investment bank Moelis & Co., consultant PwC and the law firm Allen & Overy. Moelis will help NMC in discussions with lenders while PwC will assist with liquidity management, it said.
Mubadala Investment Co., a $229 billion wealth fund, is considering a potential investment in the United Arab Emirates’ largest private health-care provider as the FTSE 100 company faces an investigation by the U.K.’s Financial Conduct Authority over allegations of fraud, Bloomberg reported Saturday, citing people with knowledge of the matter.
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