Bloomberry refinances P40B loan for Solaire North
BLOOMBERRY RESORTS Corp., led by Chairman Enrique K. Razon Jr., has refinanced a P40-billion loan used for constructing Solaire Resort North in Quezon City.
The company signed a syndicated refinancing facility with several banks, including BDO Unibank and Union Bank of the Philippines, to optimize cash flow by reducing annual interest payments by approximately P900 million.
This timely refinancing demonstrates Bloomberry's proactive financial management and commitment to providing consistent returns for shareholders.
The new P40-billion facility has a 10-year term with lower interest rates compared to the original loan, allowing the company to benefit from anticipated rate cuts in the future.
Bloomberry’s integrated resort portfolio includes Solaire Resort Entertainment City in Parañaque and Jeju Sun Hotel & Casino in South Korea, alongside the newly refinanced Solaire Resort North.
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