MPS tanks as rest of FIG rallies

MontePaschiSiena 230x150
By Bill Thornhill
06 Dec 2016

The subordinated debt of embattled Italian lender Banca Monte dei Paschi di Siena (MPS) fell several points on Tuesday as the rest of the FIG market rallied.

MPS tier two fell by five points and tier one was down seven to eight points by mid-morning UK time. According to analysts at ABN Amro, MPS may have agreed a €1.02bn swap from debt-to-equity as it grapples with its financial troubles.

"This is just a little short of ...

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