by Amruth Sundarkumar | Oct 14, 2022 | Banks, High Yield Bonds
The world’s oldest bank, Italy’s Banca Monte dei Paschi di Siena is looking to raise up to €2.5bn ($2.43bn), ten times its market cap, in a bid to revamp its balance sheet. This follows a state-led bailout and recapitalization of the bank’s capital structure, which...
by Amruth Sundarkumar | Oct 25, 2021 | Banks
Italian banks UniCredit SpA and Banca Monte dei Paschi di Siena SpA announced via a joint statement on Sunday that they are no longer in discussion for the former to absorb the latter. As per people familiar with the matter, the Italian government and UniCredit could...
by Amruth Sundarkumar | Aug 11, 2021 | Banks
UniCredit is expected to assume Banca Monte dei Paschi’s junior debt liabilities as part of the deal to takeover the bank from the Italian government. The news comes as UniCredit and the Italian government are negotiating a deal to sell the government’s...
by Amruth Sundarkumar | Aug 3, 2021 | Banks
According to Bloomberg sources, the bondholders of the world’s oldest bank, Banca Monte dei Paschi di Siena SpA are likely to be protected from any losses in case of a take over by UniCredit. The news comes as UniCredit is negotiating with the Italian government...
by Amruth Sundarkumar | Jul 23, 2021 | High Yield Bonds
The world’s oldest bank, Banca Monte dei Paschi di Siena, reached an agreement with Monte dei Paschi foundation to reduce its legal liabilities (compensation claims) by €3.8bn ($4.5bn). The foundation would get €150mn ($177mn) as part of the settlement. This is seen...
