Investors Fintech, BTG Pactual to underwrite Monte Paschi rights issue
ROME, June 6 (Reuters) - Banca Monte dei Paschi di Siena investors Fintech and BTG Pactual have agreed to join the underwriting consortium of the Italian lender's rights issue for up to 225 million euros and 125 million euros respectively, according to the cash call prospectus.
Fintech and BTG Pactual, which are core investors in the bank alongside Italy's Monte Paschi banking foundation, have already committed to subscribe to their share of the upcoming 5 billion-euro rights issue.
The prospectus said Fintech Advisory Inc and BTG Pactual Europe LLP have agreed to a sub-underwriting contract with the global coordinator of the recapitalisation. This means that if there are unsubscribed rights the two investors could increase their stakes.
The bailed-out bank priced its rights issue at a big discount on Thursday. (Reporting by Stefano Bernabei, writing by Danilo Masoni)
© Thomson Reuters 2016 All rights reserved.