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Bank of the Philippine Islands to raise 15B pesos through bond issue

The board of Bank of the Philippine Islands approved its plan to raise 15 billion pesos through the issuance of bonds.

The bonds will be issued under the bank's bond and commercial paper program of up to 50 billion pesos, according to an Oct. 17 stock exchange filing.

The timing of the issuance is subject to market conditions.

As of Oct. 17, US$1 was equivalent to 53.92 Philippine pesos.