BPI Update on Peso Bond and Commercial Paper Program Establishment

Last September 19, 2018, the board of directors of the Bank of the Philippine Islands (PSE: BPI) approved the establishment of a Peso Bond and Commercial Paper Program in the aggregate amount of up to PhP50 billion.

During the board meeting today, October 17, 2018, an initial PhP Bond issuance of up to PhP15 billion has then been approved. The timing of the issuance will be subject to market conditions.