Monte faces uphill struggle in final tier two push
The last part of Banca Monte dei Paschi di Siena’s capital raising plan could also end up being the hardest, after the Italian lender was constrained this week to raising €300m of tier two at an eye-watering coupon rate of 10.5%. Tyler Davies reports.
There had been a lot of speculation in the financial institutions bond market about whether Monte dei Paschi would bring a new tier two to the euro market before the summer.In the wake of a precautionary recapitalisation by the state in 2017, the Italian lender agreed to raise ...
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