Monte dei Paschi races to raise €5 bln to stay afloat
Embattled Italian lender Banca Monte dei Paschi di Siena SpA is making a last-ditch effort to raise 5 billion euros by the end of the year to stay afloat and avoid being bailed out by the Italian government. In a statement late Sunday, the bank said it will seek new private capital by reopening a debt-to-equity swap offer after receiving regulatory authorization, according to media reports. The bank last week made an offer to bondholders to swap €4.3 billion worth of subordinated into shares, but only raised €1 billion through the offering. Читать дальше...