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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/Bloomberg

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.

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