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East West Banking to redeem 5B pesos of notes

East West Banking Corp. plans to redeem its 5 billion pesos unsecured subordinated notes.

The bank will redeem the notes Jan. 6, 2020, pending approval from the Bangko Sentral ng Pilipinas. If central bank approval is not secured in time, the call option will be exercised April 4, 2020.

As of Dec. 19, US$1 was equivalent to 50.65 Philippine pesos.