Bloomberry Secures Additional ₱20 Billion Loan to Fund Operations

Bloomberry Resorts and Hotels Inc. (BRHI), the operator of Solaire Resort and Casino and subsidiary to Bloomberry Resorts Corp., has secured an additional loan of ₱20 billion on top of its original ₱73 billion to aid in its operations as it battles the pandemic.

Bloomberry said BDO Unibank, China Bank, Philippine National Bank, Robinsons Bank, and United Coconut Planters Bank all participated in the new loan facility.

Bloomberry disclosed in a statement “The additional funding, if drawn, will be used to support the cash flow requirements of Solaire Resort and Casino (Solaire), partially finance capital expenditures for the improvement and refurbishment of existing facilities at Solaire, and partially finance BRHI’s working capital requirements and other general corporate purposes,”

Source: ABS-CBN