| Log in
Photo Credit: Reuters

Aster DM Healthcare gets $295 mn loan from Axis Bank

11 April, 2017

United Arab Emirates-based Aster DM Healthcare has agreed a $295 million credit facility with India’s Axis Bank, the healthcare company said in a statement.

Aster had a $276 million loan outstanding with a consortium of eight banks, and it had drawn $176 million out of that facility, it said.

The new loan offers “attractive terms and conditions, which the existing consortium of eight banks are unable to match,” the statement said.

Aster had approached its banks to change some terms of its outstanding syndicated loan, banking sources told Reuters in March.

Aster is about to inaugurate one hospital in the emirate of Sharjah and one in Qatar, and is working on six more hospital projects in the Gulf.

It expects a turnover of over $1 billion in 2017, it said.

Like this report? Sign up for our daily newsletter to get our top reports.


Leave Your Comment
Aster DM Healthcare ups stake in Saudi hospital for $247M

Aster DM Healthcare ups stake in Saudi hospital for $247M

Anuradha Verma 2 years ago
Aster DM Healthcare, the hospital chain controlled by Dubai-based Indian...
Saudi conglomerate sets valuation benchmark for Aster DM Healthcare

Saudi conglomerate sets valuation benchmark for Aster DM Healthcare

Ranjani R 1 year ago
Saudi Arabian conglomerate Al Rashed Group that quietly struck the single...
Exclusive: Aster DM Healthcare picking majority stake in PE-backed Ramesh Hospitals

Exclusive: Aster DM Healthcare picking majority stake in PE-backed Ramesh Hospitals

Joseph Rai 1 year ago
Aster DM Healthcare, which runs hospitals spread across India and the Middle,...
No Comments

Aster DM Healthcare gets $295 mn loan from Axis Bank

Powered by WordPress.com VIP