Cosco Capital, Inc., owned by LUCIO L. Co, said that it has paid off its P4-billion seven-year corporate notes to its creditors.
Cosco Capital said in a regulatory statement on Thursday that it has satisfied its loan with Land Bank of the Philippines, Rizal Commercial Banking Corp., Maybank Philippines, Inc., Robinsons Bank Corp., Security Bank Corp., and United Coconut Planters Bank.
The financing was utilized for the business’s 2014 investment in liquefied petroleum gas distributor Liquigaz Philippines Corp., according to the business. SHV Energy of the Netherlands sold Liquigaz to it.
Cosco Capital said that it sold Liquigaz in 2019 for “more than three times the purchase cost,” but did not provide details.
“Even after the loan is paid off, Cosco Capital [remains] in a solid liquid position,” the business said.