Milan

MPS shares climb 2% after issuing 'Monti bonds'

Troubled lender sells 4.1 billion euros to Italy's Treasury

MPS shares climb 2% after issuing 'Monti bonds'

Milan, February 28 - Shares in troubled Italian lender Monte dei Paschi di Siena (MPS) climbed 2% on Thursday after the bank confirmed it had successfully issued 4.07 billion euros in so-called "Monti bonds", part of a government-backed bailout for the bank after it failed to meet the capital requirements set by the European Banking Authority. The bond issue was fully purchased by Italy's Treasury, MPS said. Part of the issue, some 1.9 billion euros, will serve to substitute the remaining share of Tremonti bonds MPS sold in 2009 while another 171 million euros will go on interest payments for the Tremonti bonds, the bank said. Tremonti bonds were named after former economy minister Giulio Tremonti. MPS was generally outperforming other bank stocks Thursday, with shares in other leading lenders Mediobanca, Intesa Sanpaolo and Unicredit slightly lower or flat.

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