Miami International Medical Center $3.48 million DIP loan approved

By Caroline Salls

Pittsburgh, April 30 – Miami International Medical Center, LLC received final court approval to access $3.48 million in debtor-in-possession financing, according to an order filed Monday with the U.S. Bankruptcy Court for the Southern District of Florida.

Variety Children’s Hospital, which does business as Nicklaus Children’s Hospital, will provide the financing.

Interest on the loan will accrue at a rate of Libor plus 200 basis points.

The DIP financing will mature in 180 days.

The Miami-based company does business as Miami Medical Center. The company filed bankruptcy on March 9 under Chapter 11 case number 18-12741.

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