Monte dei Paschi di Siena explore the debt market by launching a covered bonds at 6 years old. The funding target set by the institution is 500 million euro, while initial price indications are in the area of 85 basis points above midswap. The bonds will pay an annual coupon.
The expected rating for the issue is A2 from Moody's, BBB from Fitch and AH from Dbrs. The operation, whose pricing is expected within the day, will be managed by a pool of banks by Mps Capital Services, Jp Morgan, Rbs and UniCredit.
