January 18, 2019 / 6:13 PM / a month ago

Italy's Carige seeks state guarantee for two billion euros of bonds

FILE PHOTO: he logo of Carige bank is seen in Rome, Italy, April 9 2016. REUTERS/Alessandro Bianchi/File Photo

MILAN (Reuters) - Troubled Italian lender Banca Carige (CRGI.MI) said on Friday it had asked the treasury to tap a state guarantee scheme to issue two bonds worth 2 billion euros (£1.7 billion) in total.

The notes will have a 12- and 18-month maturity respectively and will be issued as soon as technical requirements have been completed, the bank said.

The lender could ask to use the state guarantee for a further 1 billion euro issue.

Reporting by Francesca Landini

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