Abu Dhabi's NMC Health 'close' to securing $250m bank funding | Banking – Gulf News:
Abu Dhabi headquartered NMC Health is all set to sign off on a $250 million debt funding that it desperately needs from UAE banks, according to financial industry sources. The terms of the deal have been agreed, and the funds would come in handy for the hospital operator to meet its medium-term cashflow requirements, including salary payoffs.
But some banking sources say the amount could still be higher.
If the loan programme is confirmed, it would mean that UAE banks are willing to take a longer term view on their exposures to the cash-strapped NMC, which had run up exposures of $6 billion plus to more than 80 institutions, a lot of which was kept off the books until recently. (Another UAE based company, the engineering firm Drake & Scull International, also recently confirmed that it had been making significant progress on its financial restructuring with lender banks)
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