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Monte dei Paschi sees costs of rescue deal at 558 million euros: document
December 16, 2016 / 10:09 AM / 9 months ago

Monte dei Paschi sees costs of rescue deal at 558 million euros: document

A man walks on a logo of the Monte Dei Paschi Di Siena bank in Rome, Italy September 24, 2013. REUTERS/Alessandro Bianchi/File Photo

MILAN (Reuters) - Ailing Italian bank Monte dei Paschi di Siena (BMPS.MI) is estimating the cost of its rescue deal, including fees paid to investment banks, at 558 million euros ($582 million), it said in a prospectus for the operation published on Friday.

The figure includes a 200 million euros payment to the Atlante bailout fund that is slated to buy a chunk of the bank’s bad loans.

Fees for the banks that will try to place newly issued shares in the lender fell to 84 million euros from 170 million euros estimated previously after the banks walked out of a preliminary deal to underwrite the share issue.

The bank also said no fees related to an anchor investor taking part in the cash call had been included in the estimate because “at present no agreement that would envisage the payment of such fees is being negotiated”.

Reporting by Silvia Aloisi; editing by Agnieszka Flak

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