The owner and proprietor of Widus Hotel and Casino Clark, Wildus Philippines Inc. (WPI)secured a P7-billion syndicated term loan with Asia United Bank Corporation (AUB) and Union Bank of the Philippines (UB).
Daesik Han, the owner and president of WPI and Mitchell Estacio, WPI corporate secretary and treasurer signed the omnibus loan and security agreements with AUB as the mandated lead arranger and bookrunner, and UB as the joint lead arranger.
The term facility proceeds will be used for the ongoing expansion of Widus in the Freeport area.
“This additional investment from our bank partners will be used to support our Tower Four project. Our loan agreement only reflects the company’s strong commitment to bringing only the best world-class facilities here in Clark,” Estacio said.
Estacio described that the tower four will be “an iconic hospitality land” Set to rise on an approximately 22,000-sqm land beside Clark Marriot in the economic zone to be completed in 2020.
The 19-story luxury property will feature 380 well-appointed rooms, a new casino along with luxurious five-star facilities and amenities such as specialty dining options, retail outlets, swimming pool, executive lounge plus event venues such as ballroom and function rooms.
With 380 well-appointed rooms and 19-story luxury property, will be having a new casino along with luxurious five-star facilities and amenities such as specialty dining options, retail outlets, swimming pool, executive lounge plus event venues such as ballroom and function rooms.
The Tower Four will increase employment dramatically over 1,000 job opportunities by 2022.
Image source: 1.https://www.sunstar.com.ph/article/1807142 2.https://www.tripadvisor.com.ph/LocationPhotoDirectLink-g3336531-d1418632-i125237284-Widus_Hotel_and_Casino-Clark_Freeport_Zone_Angeles_City_Pampanga_Provin.html 3. https://fintel.io/s/ph/aub 4.https://www.gamblingnews.com/news/widus-makes-a-bold-push-in-the-philippines/