– 9 hours ago
MANILA, Philippines — Listed Suntrust Resort Holdings Inc. will get a fresh $17-million loan from its parent company to help bankroll the development of its upcoming $1-billion casino hotel in Parañaque City.
In a stock exchange filing on Thursday, the company formerly known as Suntrust Home Developers Inc. said its board of directors had approved the proposed loan deal with LET Group Holdings Ltd.
The loan will be payable in 10 years and is “not expected to have any adverse effect on the business, operations and financial condition of the company, as it is expected to redound to the benefit of the company.”
This is in addition to a $38-million…