NMC's convertible bonds become worthless

By Aidan Gregory
24 Mar 2020

NMC Health’s $360m convertible bonds are trading at mere cents on the dollar, suggesting virtually no recovery value after the scandal-hit UAE hospitals group said on Tuesday it had discovered even more undisclosed debt.

In a regulatory filing on Tuesday morning, NMC Health said it had $1.2bn of additional undisclosed debt, taking its total debt position to about $6bn, including the convertible bonds and a $400m sukuk.

That is almost three times the group debt NMC Health had reported to the market ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.