Monte dei Paschi
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◆ Triple-B rated PBB print stuck at IPTs... ◆... while double-B rated Monte dei Paschi achieves strong outcome ◆ OP Corporate Bank lands flat to fair value -
Banco BPM scoops 5% of Monte dei Paschi from the state
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◆ Transaction set to price through BTPs ◆ Social format offers ‘something a bit unique’ ◆ Aareal Bank joins covered pipeline
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◆ MPS to launch a new covered format ◆ Infrequent and higher yielding issuer suggests market is 'stable and open' after French elections ◆ A 'few other' covereds are in the pipeline
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World's oldest bank to offer a pick-up to recent Italian deals
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MPS has been on a strong run since its last recap, aided by rising interest rates in the eurozone
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The Italian Ministry of Economy and Finance has cashed in on a dramatic rebound in MPS since its recapitalisation a year ago
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◆ World’s oldest bank scoops €500m with latest deal ◆ Only 25bp of concession needed to seal senior sale ◆ Bank faces second half MREL shortfall
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The €2.5bn dilutive rights issue accompanies a four year strategic plan
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Monte dei Paschi di Siena has begun a turnaround plan involving a €2.5bn recapitalisation backed by the Italian government
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The Italian lender has big challenges to resolve in Russia and at home but its corporate finance build-out is on a steady trajectory, writes David Rothnie
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The bank is weighing a capital increase and will need to delay a privatisation deadline
