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Published January 21, 2021, 11:38 PM
Popular food establishments and exporters and two of the country’s leading private universities were identified as among the country’s big corporations that have failed to consistently remit employees’ premium payments to the Philippine Health Insurance Corporation, the Commission on Audit (COA) has revealed. Commission on Audit (COA)
(MANILA BULLETIN FILE PHOTO)
Results of a Special Audit on the Collections, Remittances and Reporting of Premium Payments of Members of Philhealth and Management of Philhealth Agents Receipt that was released by COA recently, indicated that a total P195.59 million have not been remitted to the state health insurer as of June, 2019.
Two units of Philippine group Bloomberry Resorts Corp, an operator and developer of casino complexes, have negotiated with banks an additional loan facility amounting to PHP20 billion (US$416 million), to add to PHP73.5 billion the group had arranged previously.
“The additional funding, if drawn, will be used to support the cash flow requirements of Solaire Resort and Casino [pictured], partially finance capital expenditures for the improvement and refurbishment of existing facilities at Solaire, and partially finance Bloomberry Resorts and Hotels Inc’s working capital requirements and other general corporate purposes,” said the parent group in a Tuesday filing.
Bloomberry Resorts’ flagship is Solaire Resort and Casino in Entertainment City. Bloomberry Resorts and Hotels Inc and Sureste Properties Inc were the two Bloomberry units negotiating the fresh loan facility for the group.
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.
Bloomberry Resorts Corporation’s subsidiary Bloomberry Resorts and Hotels, Inc. (BRHI) has secured P20 billion in fresh funds.
In a disclosure to the Philippine Stock Exchange, Bloomberry said BRHI has signed, with a syndicate of banks, an amendment to the P73.5 billion Omnibus Loan and Security Agreement for an additional facility in the principal amount of P20 billion. The facility was oversubscribed.
“Securing an additional funding option during this difficult time is a landmark achievement for our company and a resounding vote of confidence by our lenders,” said Bloomberry Chairman Enrique K. Razon, Jr.
The additional facility will be available for two years from the signing of the amendment agreement and any amount borrowed will be payable within five years from the date of the first drawdown.