Yield on Monte dei Paschi bond climbs over 34 percent

Yield on Monte dei Paschi bond climbs over 34 percent

Monte dei Paschi

According to MPS, the commitments for the issue of shares worth 2.5 billion euros should already be made on Wednesday.

(Photo: Reuters)

Frankfurt Protracted investor negotiations for Monte dei Paschi di Siena’s (MPS) proposed share issue have prompted a sale of the bank’s riskier junior bonds. The yield on the Tier 2 bond maturing in September 2030 on the Tradeweb platform climbed to 34.72 percent after 32.93 percent on Tuesday.

According to MPS and the institutes involved, the commitments for the issue of shares worth a total of 2.5 billion euros should be made on Wednesday. Insiders had previously not ruled out that it could not happen until Thursday.

More: Major Swiss bank UBS warns: interest rate turnaround will burst the real estate bubble

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