January 11, 2019 / 6:51 PM / 9 months ago

CORRECTED-Monte dei Paschi looking to issue covered bond-source

(Corrects Jan. 11 story after source clarified type of bond, removes reference to second-tier capital)

MILAN, Jan 11 (Reuters) - Italian bailed-out bank Monte dei Paschi will start sounding out markets next week to place a covered bond, a source familiar with the matter said on Friday.

The bank said earlier on Friday the European Central Bank had flagged in its annual review of the lender the funding challenge Monte dei Paschi faced and warned that the failure to sell a subordinated bond as planned last year had weakened its capital position. (Reporting by Valentina Za, editing by Louise Heavens)

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