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Report: UAE's NMC Health raises $2B loan

NMC Health Plc raised a $2 billion loan from a consortium of banks earlier this month, Reuters reported citing sources familiar with the matter.

The company will use the funds, provided by banks including Citi, JPMorgan and Standard Chartered, for general corporate purposes and partly to refinance its existing debt.

Earlier this month, the London-listed company had announced acquisition plans worth up to $800 million in 2018, as it looks for growth opportunities in Dubai, Oman and Saudi Arabia, Reuters reported.

In January, the healthcare services provider acquired stakes in two healthcare companies for about $207 million. Last year it spent $641 million in acquisitions, the report added.

NMC Health operates primarily in the United Arab Emirates.