Relevant:
- Italy's Oldest Bank Monte Paschi "BAILS-IN" BONDHOLDERS TO TUNE OF $650 MILLION!
- Monte Paschi Capital Wiped Out in European Bank Stress Test; Will Raise More Capital
- Italian Bank Shares Slump as Renzi Loss Adds to Uncertainty
- Deutsche Bank Mismarked 37 Deals Like Paschi's, Audit Says
- Monte Paschi May Have Received Solvent-Status "Fudge" To Get Bailout
2016-11-14 — zerohedge.com
``Offer to target subordinated bonds for total outstanding amount of 4.289 billion euros; will offer between 20-100 percent of nominal value in bond swap offer... The conversion price is seen at 85% of nominal value for riskier Tier 1 bonds, according to Ansa sources... The Conversion price is seen at 100% of nominal value for less risky Tier 2 bonds... Monte Paschi will acquire €700m of MPS Capital Trust II securities, also Tier 1, at 20%... ''
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