Deals
Monte Paschi Raises $1.1 Billion Through Debt-to-Equity Swap
- Troubled lender’s preliminary result meets its forecast
- Final tally of swap expected to be announced within days
Pedestrians pass a Banca Monte dei Paschi di Siena SpA branch in Rome
Photographer: Alessia Pierdomenico/BloombergThis article is for subscribers only.
Banca Monte dei Paschi di Siena SpA’s bondholders agreed to swap more than 1 billion euros ($1.1 billion) of subordinated notes for shares, making it easier for the bank to complete a vital 5 billion-euro capital increase by the end of the year.