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Rizal Commercial Banking to exercise call option on notes
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Rizal Commercial Banking Corp. plans to exercise the early redemption option on its Tier 2 capital notes.
The 10 billion Philippine pesos worth of notes carry a 5.375% coupon rate and had a maturity date of Sept. 27, 2024.
Rizal Commercial Banking will redeem the notes on Sept. 26.
As of May 27, US$1 was equivalent to 52.18 Philippine pesos.