Tuesday, Jun 04, 2013
LONDON--NMC Health PLC (NMC.LN), a healthcare provider operating across the United Arab Emirates, Tuesday announced that NMC group has completed a $225 million replacement term loan facility agreement with a number of international and regional banks led by JP Morgan.
MAIN FACTS:
-New facility:
* Refinances a number of the group's primary loan facilities into one consolidated loan with extended maturity;
* Provides further headroom for extra facilities should they be required for fresh opportunities in NMC's business;
* Is expected to provide a benefit of $2 million per annum on average to the group through lower financing costs, after taking into account a possible one-time release of existing facility deferred transaction costs in 2013.
-New five year loan will be used to repay the existing $150 million term loan facility and also a number of other borrowings which the group had in place prior to the IPO.
-New facility will not raise additional cash funds, but the terms of the facility are expected to provide significant financial benefits.
-Shares on Monday closed at 296 pence, valuing the company at GBP550 million.
-Write to Tapan Panchal at tapan.panchal@dowjones.com
(END) Dow Jones Newswires
04-06-13 1203GMT
