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Banca Monte dei Paschi di Siena SpA's Board proposes 3 bln euros capital increase


Tuesday, 26 Nov 2013 07:59am EST 

Banca Monte dei Paschi di Siena SpA:Says Board of Directors resolved to submit a proposal for a share capital increase for cash for up to a maximum amount of 3 billion euros to the Extraordinary Shareholders' Meeting.Says the capital increase will entail the issue of new ordinary shares, with dividend and other entitlements accruing in the normal way, to be offered by way of a rights issue to holders of ordinary shares of Banca Monte dei Paschi di Siena.Says an Extraordinary Shareholders' Meeting has been convened for Dec. 27, 28 and, if necessary, Dec. 30.Says Shareholders' Meeting will be called upon to grant the Board of Directors all necessary powers to define the terms and conditions for the capital increase.Says rights issue is expected to be completed within the first quarter of 2014.Says UBS will act as global coordinator and bookrunner, while Citigroup, Goldman Sachs International and Mediobanca - Banca di Credito Finanziaria S.p.A. will act as co-global coordinators and joint bookrunners.Says Barclays, BofA Merrill Lynch, COMMERZBANK, J.P. Morgan, Morgan Stanley and Societe Generale Corporate & Investment Banking will also act as joint bookrunners.