NMC Health tenders for up to $90 million of its 1.875% convertible bonds due 2025

By Rebecca Melvin

New York, Dec. 17 – NMC Health Ltd. is tendering for up to $90 million of its $450 million of 1.875% convertible bonds due 2025, according to a regulatory release.

The buyback price has been set at 92.5% of par, plus accrued and unpaid interest. Bondholders whose bonds have been accepted for tender through a reverse book building modified Dutch auction will receive payment on Dec. 20.

After the settlement, $360 million in aggregate principal amount of the bonds is expected to remain outstanding.

Barclays (equity syndicate desk: +44 20 7773 8300 or e-mail at equitysynemea@barclays.com) and J.P. Morgan Cazenove (ECM syndicate: +44 20 7134 2650 or e-mail at EQL_LM@jpmorgan.com) acted as dealer managers of the tender.

NMC Health Ltd. is a subsidiary of NMC Health plc, an Abu Dhabi-based private health care operator with an international chain of hospitals.

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