Procedures are underway at the Ministry of the Economy to underwrite the 3,9 billion Monti bonds that Banca MPS must issue by the legal deadline of March XNUMX to guarantee the capital strengthening requested by the European Banking Authority (EBA), reports all 'Reuters agency a source close to the dossier.
“Procedures are underway to meet the March XNUMX deadline,” explains the source.
A second source, from the government, excludes postponements linked to reasons of political expediency after the elections and the controversies fueled by some party representatives over the bank's rescue during the electoral campaign.
MPS shares are currently down 2,11% to 0,2083 above the lows of the session with a decline that according to a trader is fueled by "rumors of delays in subscribing public bonds".
Banca Mps, when asked, "does not comment" on these rumors relaunched by some agencies of a hypothetical delay with respect to Friday's deadline.
The long and complex process for this public aid, which costs MPS an interest that rises from around 9%, does not require further authorization steps, having also already received the favorable opinion of the Bank of Italy.
Now, essentially, there will be an issue along the lines of a private placement between the issuer, Banca Mps, and the subscriber of the bonds, the Treasury, which will almost certainly draw on the treasury current account, as has already been done for the Tremonti Bonds, which Monte Paschi took for 1,9 billion.
The fact that the subscriber is public also makes the launch of the issue more complex.
