LBC Express Settles Remaining Debt to CP Briks

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LBC Express Holdings (PSE:LBC) fully settled its obligations to CP Briks under a secured convertible instrument issued in 2017.

The repayment covered the outstanding principal of $39 million along with accrued interest, according to a Tuesday Philippines Exchange filing.

The instrument was originally issued on Aug. 4, 2017, following a purchase deal signed in June of that year.

With the settlement, CP Briks has released its pledge over LBC Express Holdings' shares in LBC Express Inc., the filing said.

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