{"id":777022873,"date":"2025-02-13T10:04:51","date_gmt":"2025-02-13T13:04:51","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777022873"},"modified":"2026-04-22T01:49:43","modified_gmt":"2026-04-22T04:49:43","slug":"bloomberry-secures-refinancing-loan-for-solaire-resort-north","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/bloomberry-secures-refinancing-loan-for-solaire-resort-north","title":{"rendered":"Bloomberry secures refinancing loan for Solaire Resort North"},"content":{"rendered":"\n

It’s the second refinancing exercise completed by Bloomberry in the last four months.<\/p>\n\n\n\n\n\n\n\n

The Philippines.-\u00a0Bloomberry Resorts<\/strong>\u00a0has announced that it has signed a PHP40bn (US$688m) syndicated refinancing facility with a group of banks to refinance an existing PHP40bn term loan facility obtained in February 2019 towards the construction of Solaire Resort North. It’s the second refinancing exercise the company has completed in the last four months.<\/p>\n\n\n\n

Bloomberry said the new agreement is similar to the PHP72bn (US$1.24bn) facility it obtained in October<\/a>. The new loan term is 10 years, ending in February 2035. Borrowers will make larger payments in the last three years. The interest rate is 75 basis points lower than the previous loan, and borrowers can lock in this rate within the next 12 months. According to the company, the terms will reduce debt payments in the coming years and allow Bloomberry to benefit from anticipated interest rate cuts.<\/p>\n\n\n

\n
\"\"
Signing ceremony of the syndicated term loan facility.<\/figcaption><\/figure>\n<\/div>\n\n\n

Enrique K. Razon Jr.<\/strong>, Bloomberry chairman and CEO, said, \u201cOur recent refinancing activities optimise our cash flow by reducing annual interest and principal payments. The timely refinancing of our PHP40bn facility demonstrates our proactive financial management stance and our commitment to provide a consistent return of capital to our shareholders.\u201d<\/p>\n\n\n\n

The group of lenders comprises 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. BDO Capital & Investment Corporation served as lead arranger and sole bookrunner while BDO Unibank \u2013 Trust and Investments Group is the security trustee, facility agent, and paying agent.<\/p>\n\n\n\n

Maybank lowers 2025 consolidated net revenue forecast for Bloomberry<\/h2>\n\n\n\n

Analysts at\u00a0Maybank Investment Bank\u00a0<\/strong>have lowered their full-year 2025 consolidated net revenue forecast\u00a0for Bloomberry Resorts by 16.9 per cent to PHP50.1bn (US$857m). They said the adjustment was made due to a \u201cchallenged\u201d business environment, especially at\u00a0the Solaire Resort & Casino<\/strong>.<\/p>\n\n\n\n

Analyst Raffy Mendoza <\/strong>also anticipated a net gaming revenue of PHP40.43bn this year<\/strong>, down 15.9 per cent from his previous estimate. According to him, factors that could influence earnings in 2025 include the declining contribution of gross gaming revenue (GGR) from casinos in Entertainment City, which is driven by a decrease in fly-in VIP gamers and fewer local Chinese players at mass tables.<\/p>\n\n\n\n

Solaire Resort North\u00a0opened in Quezon City last May<\/a>. The\u00a0US$1bn\u00a0development features 526 rooms and suites. The casino has 2,669 electronic gaming machines and 163 tables across four levels.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

It’s the second refinancing exercise completed by Bloomberry in the last four months.<\/p>\n","protected":false},"author":176,"featured_media":29713,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Bloomberry Resorts has secured a PHP40bn (US$688m) syndicated refinancing facility, reducing interest rates by 75 basis points and extending the loan term to 10 years, optimizing cash flow and debt servicing for its Solaire Resort North development. Concurrently, Maybank Investment Bank has revised down Bloomberry's 2025 net revenue forecast by 16.9% due to a challenging business environment, specifically citing reduced VIP and mass market GGR contributions from Entertainment City.","focusai_entities":"Bloomberry Resorts, Solaire Resort North, Enrique K. Razon Jr., BDO Unibank, Inc., Bank of Commerce, Bank of the Philippine Islands, China Banking Corporation, Metropolitan Bank and Trust Co., Philippine National Bank, Union Bank of the Philippines, BDO Capital & Investment Corporation, BDO Unibank \u2013 Trust and Investments Group, Maybank Investment Bank, Raffy Mendoza, Solaire Resort & Casino","focusai_location":"Philippines, Quezon City, Entertainment City","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), operator_casino (0.9), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Impact on Capital Structure","query":"How will this PHP40bn refinancing, coupled with the previous PHP72bn facility, specifically alter Bloomberry's overall debt-to-equity ratio and weighted average cost of capital, and what are the implications for future capital expenditure plans beyond Solaire Resort North?"},{"label":"Market Dynamics & GGR","query":"Given Maybank's revised NGR forecasts and the identified decline in fly-in VIP and local Chinese mass players, what specific market segmentation strategies is Bloomberry implementing to mitigate these GGR pressures, particularly for Solaire Resort & Casino and the newly opened Solaire Resort North?"}],"footnotes":""},"categories":[163,158,16333],"tags":[15417],"class_list":["post-777022873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-slider-home","category-south-east-asia-news","tag-bloomberry-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022873","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777022873"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022873\/revisions"}],"predecessor-version":[{"id":777022910,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022873\/revisions\/777022910"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/29713"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777022873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777022873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777022873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}