Steward Health Authorized to Draw New $225 Million Financing

Steward Health Care System LLC has won bankruptcy court permission to start drawing on a new $225 million Chapter 11 financing the hospital operator said it needed to avoid closing and continue a sale process.

• Judge Christopher Lopez said Thursday he’d permit Steward Health to begin tapping the financing provided by a group of lenders that includes Brigade Capital Management LP, Owl Creek Investments and an affiliate of WhiteHawk Capital Partners LP
  • Steward said it required new financing because hospital landlord Medical Properties Trust Inc. declined to advance it more than an initial $75 million Chapter 11 loan
• Steward ...