Monte bonds fly amid balance sheet clean-up

Monte_dei_Paschi_PA_575x375_040220
By Tyler Davies
04 Feb 2020

Bonds sold by Banca Monte dei Paschi di Siena were surging higher in secondary market trading this week, amid reports that the Italian bank was close to agreeing plans to offload a €10bn portfolio of non-performing loans.

Data from Market Axess showed that Monte dei Paschi’s €750m 5.375% tier two was trading at a cash price of 94.77 on Tuesday, but by Thursday the same deal was quoted at 97.5.

A €400m 10 year non-call five tier two sold at par by the bank just ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.