MPS begins marketing new five-year senior issue

Tue Mar 25, 2014 4:41am EDT

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LONDON, March 25 (IFR) - Banca Monte dei Paschi di Siena has started marketing a new five-year senior unsecured euro benchmark bond for pricing later today.

The troubled Italian lender mandated Banca IMI, JP Morgan, Mediobanca, MPS Capital Services and RBS on Monday for the new transaction.

The issue is being marketed at 290bp area over mid-swaps and has expected B2/BBB/BBB ratings from Moody's/Fitch/DBRS. (Reporting by Helene Durand, editing by Julian Baker)

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