02:58 PM EST, 11/08/2024 (MT Newswires) -- Brookfield Asset Management's ( BAM ) Healthscope unit has secured a covenant waiver on its AU$1.6 billion ($1.1 billion) loan from lenders, Bloomberg reported Friday, citing people familiar with the matter.

Lenders have agreed to waive the covenant until the end of March 2025, helping the Australian hospital operator avoid possible breach of the loan agreement while it struggles with lower profit, the report said.

Healthscope initiated discussions with lenders in March, exploring options to restructure the loan, including reorganization of the hospital operator's holding company and adjusting collateral for the facility, according to the news outlet.

The loan falls due in June 2027, the report added.

Representatives of Brookfield and Healthscope declined to comment, according to the report.

Brookfield and Healthscope did not immediately reply to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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