UDENNA Corp. said it settled on Monday the notice of default it received with a consortium of banks led by BDO Unibank.

'In relation to the various reports recently published, which involved Clark Global City Corp. (CGCC), Clark International Airport Corp. (CIAC) and a consortium of banks led by BDO Unibank, we wish to announce that Udenna Corp. settled the matter today, July 25, 2022, prior to the mandated deadline, and to the satisfaction of the majority lender and the consortium banks,' the Dennis Uy-led company said in a statement.