Abu Dhabi - Mubasher: Abu Dhabi Commercial Bank (ADCB) has received 37.5% of transferable exit instruments in a $2.25 billion facility issued by a new NMC holding company.
This step came after the company had completed a debt restructuring process and exited from administration, according to a recent press release.
On 25 March, NMC's healthcare operating entities in the UAE and Oman exited Abu Dhabi Global Market (ADGM) administration and were moved to NMC HoldCo SPV (NMC).
As a significant creditor to NMC, ADCB has enabled NMC to tackle developments in early 2020, including the undisclosed debt of more than $4 billion.
In April 2020, the bank took legal action to appoint administrators to NMC Health and provided financing to ensure operational continuity and an orderly restructuring process.
