Cosco Capital Inc. said it has completely paid its P4 billion, seven-year corporate notes, tapped to finance the acquisition of Liquigaz Philippines in 2014.
The company in a regulatory filing said the payment was made to Land Bank of the Philippines, Rizal Commercial Banking Corp., Maybank Philippines Inc., Robinsons Bank Corp., Security Bank Corp., and United Coconut Planters Bank
In 2014 Cosco bought Liquigaz In 2014, Cosco acquired Liquigaz from SHV Energy of the Netherlands through unit Canaria Holdings Corp., which is 90 percent-owned by Cosco and 10 percent-owned by PR Gaz, Inc.
It was the second largest supplier of LPG in the country, accounting for about 30 percent of the total market volume.
The company sold Liquigaz in 2019, five years after, in what Cosco said priced at “over three times acquisition cost.”
The company however declined to reveal how much it sold or acquire Liquigaz.
