MILAN The Monte dei Paschi foundation, former controlling investor in Banca Monte dei Paschi di Siena (BMPS.MI), said on Wednesday it had changed the terms of a pact with Fintech Advisory and BTG Pactual Europe LLP whereby the three investors would subscribe pro-rata to a 5 billion euro rights issue at the Italian bank.
The pact between the three investors was originally signed on March 31 at a time when Monte dei Paschi had penciled in a cash call of just 3 billion euros ($4.2 billion).
On April 18 the bank increased the size of the cash call to a maximum of 5 billion euros to plug any possible holes in its finances ahead of a European bank health check.
Shareholders in the pact hold 6.5 percent of the Siena-based bank. ($1 = 0.7212 Euros)
(Reporting by Stephen Jewkes, editing by Isla Binnie)