Pursuant to its Code of Conduct, Lopez Holdings treats its creditors as partners. The company fosters relationships with them based on mutual trust, good faith and professionalism. Lopez Holdings values the contribution that creditors give to growth and development, and respects their rights.
In 2011, a tender offer for unrestructured debt allowed Lopez Holdings to purchase at full face value an aggregate principal amount of US$ 13.966 million of the Eurobonds (approximately 71% of the outstanding Eurobonds), and P785.3 million of LTCPs (approximately 90% of LTCPs).
In 2012, Lopez Holdings bought back the remaining Eurobonds amounting to US$ 5.0 million, and more than P1.0 million worth of LTCPs, both at full face value.
To-date, there remain only P26 million worth of unrestructured debt, and the company has a standing offer to buy them back at face value.