December 4, 2019 / 5:05 PM / 2 days ago

Banca Mediolanum committed to underwrite part of a new Carige bond - chairman

MILAN, Dec 4 (Reuters) - Banca Mediolanum is committed to underwriting part of the new subordinated bonds troubled Italian lender Banca Carige is set to issue as part of its rescue plan, chairman Ennio Doris said on Wednesday.

Carige’s rescue package, backed by depositor protection fund FITD, envisages a cash call of 700 million euros ($772 million)and the issuance of subordinated bonds up to 200 million euros.

“Everytime we have been called to support the Italian banking system, we have always done it,” Doris said on the sidelines of an event in Milan. ($1 = 0.9073 euros) (Reporting by Gianluca Semeraro, editing by Stephen Jewkes)

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