NMC lenders start to tally losses as trading unit goes on block

NMC lenders start to tally losses as trading unit goes on block

UAE Exchange, set up by the founder of the embattled hospital operator, defaulted on a loan of about $300m, to a group that includes Goldman Sachs Group Inc., JPMorgan Chase & Co., Barclays and Commercial Bank of Dubai, according to people familiar with the matter.. It emerged that Abu Dhabi Commercial Bank has more than $1bn of exposure to the Abu Dhabi-based company.. Underscoring the cash crunch, NMC is braving the market mayhem triggered by the coronavirus pandemic to sell its distribution business, people familiar with the matter said.. Besides Abu Dhabi Commercial Bank, with its more than $1bn of exposure, other lenders include HSBC Holdings, JPMorgan Chase & Co. and Standard Chartered, the people said.. Representatives for Goldman Sachs and JPMorgan declined to comment, while representatives for Commercial Bank of Dubai and Shetty didn't immediately respond to requests for comment..