Monte Paschi 5-yr bond to yield 275 basis points over midswap - lead

MILAN, March 25 Tue Mar 25, 2014 10:24am EDT

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MILAN, March 25 (Reuters) - A five-year bond Monte dei Paschi di Siena offered on Tuesday will pay a yield of 275 basis points over the midswap rate, one of the lead managers of the issue said.

The yield guidance for the 1 billion-euro ($1.4 billion)senior unsecured bond was initially set at around 290 basis points.

This is the first issue of senior unsecured debt since mid-2012 for Italy's third-biggest bank by branches, which was rescued by the state in a 4.1 billion euro bailout. ($1 = 0.7255 Euros) (Reporting by Giulio Piovaccari, writing by Francesca Landini, editing by Paola Arosio,)

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