Steward secures $225m financing amid bankruptcy proceedings [Yahoo! Finance]
KeyCorp (KEY)
Last keycorp earnings: 4/16 06:30 am
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Source: Yahoo! Finance
Steward Health Care is now planning to seek court approval for this financial support later in the week at the US Bankruptcy Court for the Southern District of Texas. The latest financing, which has been provided by a consortium of Steward's secured First-in, Last-out (FILO) lenders, is critical for the company's continuity. It will enable Steward Health Care to manage its strategic marketing process flexibly, aiming to maximise value for all stakeholders, including vendors and creditors, during the bidding for the sale of Stewardship Health, which is subject to regulatory approval. The debtor-in-possession (DIP) financing facility offers Steward Health Care the necessary flexibility to extend the marketing process if it benefits the company's stakeholders. This includes the potential reorganisation around certain assets to ensure the selection of the most advantageous bidder and to maximise creditor value. Legal counsel for the company is provided by Weil, Gotshal & Manges
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- Steward Health Care Secures Commitment for Additional $225 Million in Long-Term Financing to Support Its Restructuring [Yahoo! Finance]Yahoo! Finance
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KEY
Earnings
- 4/18/24 - Miss
KEY
Sec Filings
- 5/15/24 - Form 4
- 5/15/24 - Form 4
- 5/15/24 - Form 4
- KEY's page on the SEC website