NMC Health shares and CBs rally on takeover interest
Shares in NMC Health, the beleaguered UAE healthcare company, surged as much as 18% on Monday morning after it said it had received takeover approaches from buyout firms KKR and GK Investment.
NMC Health has $360m of convertible bonds due in 2025. It also has a $400m sukuk due in November 2023.If a take-private bid does materialise, then convertible bond investors stand to make a healthy profit, based on where the bonds are currently trading. A change of control provision means ...
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