MILAN – Italian state-owned financial institution Monte dei Paschi di Siena (MPS) mentioned on Friday one other 4 banks had joined the consortium of lenders which are anticipated to help an upcoming 2.5 billion euro ($2.6 billion) new share situation.
Barclays, Santander, Societe Generale and Stifel have joined BofA, Citi, Credit score Suisse and Mediobanca within the consortium, MPS mentioned.
MPS mentioned in June it had struck a preliminary settlement with a gaggle of banks to choose up any unsold shares within the money name, including the signing of the particular underwriting contract was topic to a lot of circumstances, together with optimistic suggestions from buyers.
MPS wants personal buyers to contribute 900 million euros to its capital elevating to keep away from breaking European Union legal guidelines on state support to banks, however risky markets and political instability in Italy complicate its efforts.($1 = 0.9771 euros)
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