December 22, 2017 / 6:47 PM / a month ago

BRIEF-Monte dei Paschi sells mezzanine tranche to Atlante in bad loan securitisation

Dec 22 (Reuters) - Banca Monte Dei Paschi Di Siena says:

* SIGNED SALE OF 95 PERCENT OF MEZZANINE TRANCHE TO ITALIAN RECOVERY FUND (PREVIOUSLY ATLANTE II FUND) IN BAD LOAN SECURITISATION

* SALE, WHICH WILL BE EFFECTIVE ON JAN. 9, IS PART OF ACCORD REACHED IN JUNE WITH ATLANTE‘S MANAGER QUAESTIO

* EXPECTS TO BE ABLE TO ACHIEVE DERECOGNITION OF BAD LOAN PORTFOLIO IN H1 2018 AFTER SELLING JUNIOR TRANCHE

* FINANCIAL IMPACT OF BAD LOAN SECURITISATION HAS BEEN FULLY BOOKED IN H1 2017 Source text for Eikon: Further company coverage: (Reporting by Milan Newsroom)

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