Carige saved, banks on risk — now it’s over to investors

By Jon Hay
23 Nov 2017

After a delayed start at the end of last week, Banca Carige’s €500m rights issue is under way. So far it has been a “rollercoaster”, a source close to the deal said, but its promoters are delighted that the Genoese bank has got its money, thanks to the multi-handed underwriting agreement.

“At this stage, the bank is safe, which is a great success,” said another source close to the deal. “The market, the institutions, we all came together, and Carige is safe, so it has a systemic importance for Italy. But for it to be a full success we ...

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