September 21, 2015 / 8:11 PM / 4 years ago

UniCredit to guarantee Popolare di Vicenza's cash call

MILAN, Sept 21 (Reuters) - Italy’s Banca Popolare di Vicenza said on Monday that UniCredit had agreed to guarantee its planned capital increase of up to 1.5 billion euros.

The unlisted Popolare di Vicenza is seeking to raise money from investors in a share sale early next year after a balance-sheet clean-up led to a large first-half net loss and hammered its capital base.

The lender said it expected to carry out the capital increase by April next year, along with a planned listing on Milan’s stock exchange.

The global coordinators for the share offering and listing include BNP Paribas, Deutsche Bank, JPMorgan, Mediobanca and UniCredit, it added. (Reporting by Agnieszka Flak, editing by David Evans)

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