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Monte dei Paschi reopened debt swap offer to run Dec. 16-21
December 16, 2016 / 6:47 AM / a year ago

Monte dei Paschi reopened debt swap offer to run Dec. 16-21

MILAN, Dec 16 (Reuters) - Banca Monte dei Paschi di Siena said on Friday it had reopened its offer for the conversion of subordinated debt into equity, a crucial plank of the Italian lender’s effort to raise 5 billion euros ($5.22 billion) in a private rescue plan.

The bank said the offer would run from Dec. 16 to Dec. 21.

The lender, which wants retail investors to convert their subordinated bond holdings into shares, said market watchdog Consob had approved the offer on Thursday. ($1 = 0.9573 euros) (Reporting by Stephen Jewkes; editing by Agnieszka Flak)

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