Solvated in propylene carbonate, viscous phenol is studied using dielectric spectroscopy and shear rheology. In addition, several oxygen-17 and deuteron nuclear magnetic resonance (NMR) techniques are applied to specifically isotope labeled equimolar mixtures. Quantum chemical calculations are used to check the electrical field gradient at phenol's oxygen site. The chosen combination of NMR methods facilitates the selective examination of potentially hydrogen-bond related contributions as well as those dominated by the structural relaxation. Taken together the present results for phenol in equimolar mixtures with the van der Waals liquid propylene carbonate provide evidence for the existence of a very weak Debye-like process that originates from ringlike supramolecular associates.