LBC Express Holdings, Inc. announced that it expects to receive $50 million in funding from Crescent Point Group
June 19, 2017
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LBC Express Holdings, Inc. (PSE:LBC) announced a private placement of convertible notes for gross proceeds of $50 million on June 20, 2017. The transaction will include participation from Crescent Point Group. The investor will invest through CP Briks Pte. Ltd. The notes are secured, convertible, and due in 2024. The transaction has been approved by the board of directors of the company. The transaction is subject to shareholders’ approval of the company at its meeting.
LBC Express Holdings, Inc. is a Philippines-based holding company. The Company is engaged in retail and corporate courier and cargo, money remittance, and logistics services. Its segments include logistics and money transfer services. The main services offered under its logistics business are domestic and international courier and freight forwarding services (by way of air, sea, and ground transport). Its logistics products are geared toward both retail and corporate clients. The money transfer services segment consists of remittance services (including branch retail services, prepaid remittance cards and online and mobile remit) and bill payment collection and corporate remittance payout services. The money transfer services segment includes an international presence through its branches, which comprises international inbound remittance services. The Company has a network of over 6,400 branches, hubs and warehouses, partners, and agents in approximately 30 countries.
LBC EXPRESS HOLDINGS, INC. 
