| admin | Date: Saturday, 09 July 2011, 5:50 PM | Message # 1 |
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| Philippine National Bank (PNB) announces that subject to approval of the Monetary Board of the Bangko Sentral ng Pilpinas and in accordance with the Terms and Conditions of the 10% Unsecured Subordinated Notes ("Notes") issued on August 10, 2006 in the amount of PhP5.50 Billion, they (PNB) will exercise the Call Option and redeem all of the outstanding Notes amounting to PhP5.50 Billion by paying the Noteholders the face value of the Notes plus accrued interest at the Interest Rate.
Call Option Date has been deteremined to be on August 11, 2011 which as per the Terms and Conditions of the "Notes" shall be the day following the last day of the twentieth interest Period from Issue Date.
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