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Monte dei Paschi could launch new debt swap Thursday-sources
December 14, 2016 / 11:37 AM / a year ago

Monte dei Paschi could launch new debt swap Thursday-sources

MILAN/ROME, Dec 14 (Reuters) - Monte dei Paschi di Siena could reopen a debt-to-equity swap offer on Thursday if its board on Wednesday opts to push ahead with a do-or-die attempt to raise 5 billion euros ($5.3 billion) this year, two sources familiar with the matter said.

Provided market regulator Consob gives it a green light, the Tuscan bank would launch the new conversion offer on Thursday afternoon and let it run until Dec. 23.

The bank would also launch a private placement of newly issued shares next week, the sources said, in a last attempt to avoid a looming state rescue. ($1 = 0.9398 euros) (Reporting by Paola Arosio and Stefano Bernabei, writing by Valentina Za)

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