The company said in a press statement on Tuesday, that the new financial facilities will be introduced in conjunction with the group's entry into the second stage of the restructuring.
The company stated that these facilities would enhance the financial security of the group and ensure continued provision of patient care to the best international standards, in addition to achieving stability for employees and suppliers. >
NMC's major lenders have agreed to provide a $ 250 million financing package for the group and its subsidiaries under certain conditions, which the group is close to completing. < / p>
These conditions will be completed in conjunction with entering the second stage of restructuring, and submitting (NMC) business plan for the next three years.
This plan will include custodial procedures - in a limited manner - to protect operational business in the UAE.
This procedure will allow the pumping of the new financing package to support operational operations and stop the adverse actions of creditors, to ensure regular procedures in the interest of all creditors.
As part of the business plan, Perella Weinberg Partners has been appointed as the investment bank to study opportunities to sell the global business that it owns (NMC), and to provide advice On possible alternatives to restructuring.
(NMC) will work extensively with all relevant financial parties to review the business plan, and will share restructuring details in order to free the group from its previous debt burden.
It is reported that guardianship was imposed on NMC last April, and judicial guards from Alvarez & Marsal were appointed in accordance with a court decision. ..
