(MENAFN) UAE's healthcare provider (NMC Health) agreed upon a five-year USD825 million loan to cover up existing debt and fund acquisitions, Arabian Business reported.
The sum is divided into two tranches, a USD350 million tranche given gradually and set to be used for refinancing existing debts. The second is a USD475 million worth tranche for financing acquisitions, NMC stated.
The two tranches are on five-year terms and should relieve the company up to USD3.75 million annually in interest payments, the London-listed UAE healthcare provider added.
'The new facility has been structured as two separate tranches to facilitate NMC's ongoing strategy of making phased acquisitions that will be accretive to the Company's underlying business and profitability,' NMC added in the statement.
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