2017
Lopez Holdings Corporation paid all outstanding Restructured Notes and ended the year with no direct obligations.
2016
Lopez Holdings Corporation redeemed US$5.0 million worth of outstanding Restructured Notes pursuant to the terms of the Notes Issuance Agreement. Also, all outstanding LTCPs with face value of P26 million were redeemed at par.
Outstanding direct obligations amount to US$5.0 million in Restructured Notes.
2015
Lopez Holdings Corporation redeemed US$13.1 million worth of outstanding Restructured Notes pursuant to the terms of the Notes Issuance Agreement . Also, all outstanding 4.2% Perpetual Convertible Bonds (130 units) were redeemed at 100% of the principal outstanding amount of US$193,700.
Subject to availability of cash, the Company’s standing offer to buy-back all or any part of the remaining LTCPs, under mutually acceptable terms, remains in place. Outstanding obligations amount to US$9.965 million in Restructured Notes and P26 million worth of LTCPs.
2014
Lopez Holdings Corporation purchased P40 million LTCPs at face value of the principal amount. There remain only P26 million worth of LTCPs, and the company’s standing offer with its creditors for the settlement of its remaining debt, under mutually acceptable terms, remains in place.
2012
On February 28, 2012, Lopez Holdings Corporation purchased from a creditor its remaining unrestructured US$5.0 million 7.875% Eurobonds at face value of the principal amount.
On August 16, 2012, the Company also purchased 12.0 million LTCPs at face value of the principal amount.
2011
In 2011, Lopez Holdings Corporation conducted a tender offer for unrestructured debt, which gave creditors the opportunity to sell back approximately US$41 million at full face value.
Lopez Holdings offered to purchase for cash at their par value, any and all of its outstanding US$150,000,000 7.875% Notes (Eurobonds) due 2002 issued on June 17, 1997, and Series A-2 Long Term Commercial Papers (LTCPs) issued on September 17, 1996 and October 1, 1996. In conjunction with the offer to purchase the LTCPs, the company undertook a consent solicitation for proposed amendments to the Trust Agreement dated September 12, 1996 covering the LTCPs.
