MILAN (Reuters) - Italy's Monte dei Paschi di Siena (MI:BMPS) has appointed JPMorgan (NYSE:JPM) and Mediobanca as joint global coordinators for the institutional offer of a debt swap that is central to the bank's rescue plan.
The troubled lender also said on Tuesday that Banco Santander (MC:SAN), Citigroup (NYSE:C), Credit Suisse (SIX:CSGN), Deutsche Bank (DE:DBKGn), Goldman Sachs (NYSE:GS), Merrill Lynch and MPS Capital Services will be dealer managers for the institutional offer of the debt swap.
The bonds that are held by both institutional and retail investors will be converted at the same price, the bank said in a statement.
The debt-to-equity swap is a crucial leg of a 5 billion euro (4.34 billion pounds) rescue plan aimed at meeting regulators' concerns about the bank's capital position and bad loans.