16th Dec 2019 08:30
(Alliance News) - NMC Health PLC said Monday its subsidiary NMC Health Jersey Ltd will buyback up to USD90 million in its 1.875% senior unsecured guaranteed convertible bonds due 2025.
The UAE-focused healthcare firm said that within the 2025 convertible notes, USD450 million of the aggregate principal amount remains outstanding.
Barclays and JP Morgan Cazenove are acting as dealer managers, and the offer will be structured as a reverse bookbuilding modified Dutch auction process.
NMC said it will announce the final buyback price as soon as possible after the invitation deadline, which is set at 1645 GMT on Monday. The settlement date for the offer is expected to be Friday.
Shares in NMC Health - which is headquartered in Abu Dhabi - were up 2.4% at 2,524.18 pence on Monday in London.
By Dayo Laniyan; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
NMC.L