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ADCB, HSBC, StanChart have large exposures to NMC – Bloomberg

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ADCB, HSBC, StanChart have large exposures to NMC – Bloomberg

Abu Dhabi Commercial Bank PJSC has lent more than $1 billion to NMC Health PLC, Bloomberg News reported, citing sources.

The troubled healthcare company also has large outstanding loans from HSBC Holdings PLC, JPMorgan Chase & Co. and Standard Chartered PLC

The company has been caught up in a controversy after U.S.-based hedge fund Muddy Waters published a report questioning NMC's asset value, cash balance, reported profits and debt levels.

After the release of the report, NMC declared that it had roughly $3.9 billion in undisclosed liabilities.

The company suspended its shares on the London Stock Exchange and removed CEO Prasanth Manghat in February 2019.