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December 23, 2020 | 12:05 am Font Size
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SUBSIDIARIES of Razon-led Bloomberry Resorts Corp. have added P20 billion to its existing loan facility in an effort to reduce interest expenses.
In a regulatory filing on Tuesday, the company said its subsidiaries, Bloomberry Resorts and Hotels, Inc. (BRHI) and Sureste Properties, Inc. (SPI), signed an amendment to the P73.5-billion omnibus loan and security agreement for an additional P20 billion to its loan facility.
The company added that the facility was oversubscribed.
According to the disclosure, the additional loan will be available for two years from the agreement signing and can be used to save on interest payments.