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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.