Monte dei Paschi close to finalizing cash call guarantors: source
Reuters
Published Jul 29, 2016 07:18AM ET
Monte dei Paschi close to finalizing cash call guarantors: source
MILAN (Reuters) - Monte dei Paschi (MI:BMPS) is close to finalizing a consortium of eight banks to guarantee a 5 billion euro ($5.55 billion) cash call the lender plans to carry out to strengthen its balance sheet, a source close to the matter said.
Beyond global coordinators JP Morgan (N:JPM) and Mediobanca (MI:MDBI), the consortium is expected to include Goldman Sachs (N:GS), Santander (MC:SAN), Citi (N:C), Credit Suisse (S:CSGN), Deutsche Bank (DE:DBKGn) and BOFA Merrill Lynch (N:BAC).
The source said the banks had given a preliminary nod to underwriting the cash call but each would need to take a formal decision to meet internal procedures.
Goldman Sachs, Credit Suisse, Citi declined to comment, Deutsche Bank, Merrill Lynch and Santander were not immediately available for comment.
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Written By: Reuters
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