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Red Planet Secures Development Financing from Asia United Bank

Primeiro Finance News
Red Planet Hotels, the leading developer and operator of budget hotels in Southeast Asia and Japan, has closed a top-up loan facility with Asia United Bank to fund the development of an ongoing project in Metro Manila. Proceeds of the 9-year facility, set up through one of Red Planet's Philippine subsidiaries, will primarily be used to finance the development of Red Planet Manila The Fort, an envisioned 245-room property in the key business district of Bonifacio Global City. Primeiro Partners acted as Red Planet's exclusive financial advisor for the transaction.

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