MILAN Oct 12 Italian bank bailout fund Atlante
confirmed on Wednesday a commitment to invest up to 1.6 billion
euros ($1.8 billion) in the planned securitisation of bad loans
at ailing bank Monte dei Paschi's.
Monte dei Paschi announced in July an emergency rescue plan
that includes a capital increase of up to 5 billion euros and
the transfer of 28 billion euros of non-performing loans to a
vehicle which will sell them in a securitisation scheme.
The fund managing Atlante, which in July had committed to
buying the mezzanine tranche of the securitised loans, said in a
statement that a due diligence of the soured debts had been
completed and had confirmed the initial price estimates.
($1 = 0.8928 euros)
(Reporting by Silvia Aloisi)