• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 30 May 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Bloomberry Resorts Corp refinances US$686 million loan facility

Newsdesk by Newsdesk
Thu 13 Feb 2025 at 09:46
IAG announces elite Judging Panel for Asian Gaming Power 50 Black Tie Gala Dinner at Solaire Resort North

Solaire Resort North

10
SHARES
260
VIEWS
Print Friendly, PDF & Email

Solaire Resort operator Bloomberry Resorts Corporation and its subsidiaries Bloomberry Resorts and Hotels, Inc and Sureste Properties Inc have signed with a group of banks a new Php40 billion (US$686 million) Syndicated Refinancing Facility, a refinancing of its existing Php40 billion Syndicated Term Loan Facility obtained in February 2019.

The original facility was obtained to partially finance the development of Solaire Resort North in Quezon City, opened in May 2024.

This is the second refinancing exercise successfully completed by Bloomberry in the last four months, the company noted, with its key features being similar to the Php72 billion (US$1.23 billion) facility obtained in October last year.

The new facility carries a term of 10 years or until February 2035, with the principal payment schedule structured such that heavier payments are made in the last three years of the facility. The interest margin on the loan is 75 basis points lower than the original facility and gives the borrowers the opportunity to fix the interest rate in the next 12 months.
According to detailed filed by Bloomberry, these features will lighten debt service requirements over the coming years and allow Bloomberry to benefit from anticipated interest rate cuts in the next months.

“Our recent refinancing activities optimize our cash flow by reducing annual interest and principal payments,” said Bloomberry Chairman and CEO Enrique Razon Jr.

“The timely refinancing of our Php40 billion facility demonstrates our proactive financial management stance and our commitment to provide a consistent return of capital to our shareholders.”

The syndicate of lenders includes BDO Unibank, Inc, Bank of Commerce, Bank of the Philippine Islands, China Banking Corporation, Metropolitan Bank and Trust Co, Philippine National Bank, and Union Bank of the Philippines.

RelatedPosts

Casino Filipino venues to receive first delivery of almost 2,000 new slot machines by mid-September

PAGCOR board, including Chairman Tengco, tender courtesy resignations following Presidential call

Thu 29 May 2025 at 14:15
Mindslot-e leads first Philippines slot machine deployment for AGS with debut of “Lion Cash”

Mindslot-e leads first Philippines slot machine deployment for AGS with debut of “Lion Cash”

Wed 28 May 2025 at 06:08
Philippine billionaire Manny Villar to renew focus on Villar City estate following family election run

Philippine billionaire Manny Villar to renew focus on Villar City estate following family election run

Mon 26 May 2025 at 06:17
Resorts World Manila changes name to Newport World Resorts

Manila’s Newport World Resorts to strengthen online gaming platform in response to growing E-Games segment

Thu 22 May 2025 at 05:16
Load More
Tags: Bloomberry Resorts Corploan facilityPhilippinesrefinarefinancingSolaire Resort North
Share4Share1
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Robert Goldstein to step aside as LVS Chairman and CEO from March 2026, replaced by Patrick Dumont

Robert Goldstein: Macau gaming market challenged by increased competition, online gambling and US-Sino trade war

by Ben Blaschke
Fri 30 May 2025 at 06:42

Las Vegas Sands (LVS) Chairman and CEO Robert Goldstein has bemoaned the lingering impact of the US-China trade war, as well as increased domestic and regional competition and the rise of online gambling across Asia for sustained flatness in the...

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

by Ben Blaschke
Fri 30 May 2025 at 05:38

Industry figures taking part in the Thai Entertainment Complex Roundtable (TECR) next Thursday 5 June hope to find common ground with those who oppose Thailand’s Entertainment Complex Bill, citing the opportunity to use an evidence-based approach to achieve outcomes that...

Genting Malaysia misses 4Q24 estimates, slashes dividends as rising costs hurt profitability

Genting Malaysia reports US$613 million in Q1 revenue, impacted by lower VIP at Resorts World Genting

by Ben Blaschke
Fri 30 May 2025 at 05:23

Genting Malaysia reported a 6% decline in group-wide revenue to MYR2.60 billion (US$613 million) in the three months to 31 March 2025, including a 7% drop in revenue at flagship Malaysian property Resorts World Genting (RWG) to MYR1.62 billion (US$382...

Macau’s hotel occupancy rate reaches 89% in July

Macau’s hotel occupancy rate climbed to 87.8% in April

by Pierce Chan
Thu 29 May 2025 at 17:27

Macau’s average hotel occupancy rate rose by 4.7 percentage points year-on-year to 87.8% in April, with the number of guests increasing by 3.4% to 1.2 million. According to data from the Statistics and Census Service (DSEC), there were 147 hotel...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English