16th Feb 2015 07:55
LONDON (Alliance News) - NMC Health PLC on Monday said it has secured a USD825 million financing facility from a range of international and regional banks through its NMC Healthcare LLC subsidiary.
The FTSE 250-listed healthcare provider, which operates in the United Arab Emirates, has secured the financing in two tranches, split between a USD350 million amortising term-loan facility and a USD475 million delayed-draw acquisition facility.
The company said the new financing deal is expected to result in savings in interest and other costs of approximately USD2.75 million to 3.75 million per year at existing leverage levels.
The group said the funding will back its plans to make further acquisitions over the coming year.
"The new facility is a testament to the appetite that exists amongst international and regional banks for strong regional success stories with sustainable long-term growth prospects like NMC," said NMC Deputy Chief Executive Prasanth Manghat.
By Sam Unsted; [email protected]; @SamUAtAlliance
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