November 12, 2018 / 4:48 PM / a month ago

Italy's Carige approves 400 mln euro capital strengthening plan

LONDON, Nov 12 (Reuters) - Italian mid-tier lender Banca Carige said on Monday it had approved capital-strengthening measures totalling 400 million euros ($450 million), including the issue of a subordinated bond which is convertible into shares.

The bank said the bond could be converted as part of a 400 million euro share issue which it plans to launch at a later stage. ($1 = 0.8889 euros) (Reporting by London newsroom Editing by Alexander Smith)

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