Let’s get rolling: EKR secures P40B loan for QC casino
Bloomberry Resorts Corp. has tapped a P40 billion syndicated loan facility to bankroll the construction of its integrated resort in Quezon City.
In a stock exchange filing, Bloomberry said its subsidiaries Sureste Properties and Bloomberry Resorts and Hotels signed an 10-year omnibus loan and security agreement with various banks.
The lenders include Philippine National Bank, BDO Unibank, Metropolitan Bank & Trust Co., Union Bank of the Philippines, Bank of Commerce, China Banking Corp. and Robinsons Bank Corp.
BDO Capital & Investment Corp. was the lead arranger and sole bookrunner.
Proceeds from the loan will be to partially finance the development of Bloomberry’s second casino hub on a 15,676 square meter property in Vertis North. The QC casino will target the mass market.