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Bloomberry Secures P40B Refinancing Facility
The Philippine Star
|February 13, 2025
Bloomberry Resorts Corp. of tycoon Enrique Razon Jr. has secured a P40-billion syndicated refinancing facility with a group of local banks.
The facility will refinance the existing P40 billion syndicated term loan facility obtained by borrowers Bloomberry Resorts and Hotels Inc. and Sureste Properties Inc. in February 2019 to partially finance the construction of Solaire Resort North.
Bloomberry said the deal is the second refinancing exercise successfully completed by the company in the last four months.
"Our recent refinancing activities optimize our cash flow by reducing annual interest and principal payments," Razon, Bloomberry chairman and CEO, said.
This story is from the February 13, 2025 edition of The Philippine Star.
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