Monte Paschi signs underwriting agreement with banks for cash call

May 22, 2015 5:26 AM

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MILAN May 22 Banca Monte dei Paschi di Siena said on Friday it had signed an underwriting agreement with a pool of banks to subscribe to the lender's planned 3-billion-euro rights issue.

On Thursday the Italian bank priced the cash call at a big discount as it seeks to plug a capital shortfall unveiled by a Europe-wide health check of the sector.

Also read: India cenbank says to withdraw temporary cash reserve ratio hike

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