January 10, 2018 / 8:18 AM / 5 months ago

BRIEF-Italy's Atlante closes purchase of mezzanine tranche in Monte Paschi bad loan sale

Jan 10 (Reuters) - Banca Monte Dei Paschi Di Siena:

* ITALIAN BANKING INDUSTRY RESCUE FUND ATLANTE SAYS CLOSES PURCHASE OF MEZZANINE TRANCHE IN MONTE DEI PASCHI BAD LOAN SECURITISATION INVESTING 805 MILLION EUROS

* AS PREVIOUSLY ANNOUNCED, ATLANTE, NOW RENAMED ITALIAN RECOVERY FUND, BUYS 95 PCT OF THE MEZZANINE TRANCHE IN THE 25 BLN EURO SECURITISATION

* PLANNED ATLANTE’S INVESTMENT IN JUNIOR TRANCHE AND GRANTING OF GACS STATE GUARANTEE ON SENIOR TRANCHE TO TAKE PLACE IN H1 2018 Further company coverage: (Reporting by Milan Newsroom)

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