February 7, 2013 / 10:02 AM / in 5 years

Monte Paschi won't pay coupon on state loans with more state loans in 2013

MILAN, Feb 7 (Reuters) - Italy’s Banca Monte dei Paschi di Siena will not pay the coupon on 3.9 billion euros in state loans by taking out more state loans in 2013, but is likely to issue shares to the Treasury instead, its chief financial officer Bernardo Mingrone said on Thursday.

Asked about reports of possible BNP-Paribas interest for the bank or merger talks with Intesa Sanpaolo , Monte Paschi Chief Executive Fabrizio Viola said “right now there is nothing” taking place.

The bank’s chief financial officer Mingrone said he does not see a risk of the banks’ FRESH 2008 hybrid instrument being taken out of its core capital.

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