Italy's Atlante confirms 1.6 billion euro investment in Monte Paschi bad loans

Italy's Atlante confirms 1.6 billion euro investment in Monte Paschi bad loans
 

Italian bank bailout fund Atlante confirmed on Wednesday a commitment to invest up to 1.6 billion euros ($1.8 billion) in the planned securitisation of bad loans at ailing bank Monte dei Paschi's (BMPS.MI).
Monte dei Paschi announced in July an emergency rescue plan that includes a capital increase of up to 5 billion euros and the transfer of 28 billion euros of non-performing loans to a vehicle which will sell them in a securitisation scheme.
The fund managing Atlante, which in July had committed to buying the mezzanine tranche of the securitised loans, said in a statement that a due... read more

 
12 October 2016 in Business, Views: 42
Source: Reuters
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