November 17, 2017 / 8:08 AM / a year ago

Bondholders sue Italy bank Monte dei Paschi over rescue action

MILAN, Nov 17 (Reuters) - Holders of a series of bonds convertible into shares of Italian bank Monte dei Paschi di Siena have sued the lender over the terms of its state-led rescue this year, which included the mandatory conversion of some debt into shares.

A representative of holders of the floating-rate FRESH bonds, maturing at the end of 2099, said in a statement on Friday a law suit had been filed on behalf of the group with a Luxembourg court arguing that the bonds should remain valid. (Reporting by Mark Bendeich; Editing by Francesca Landini)

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