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Bondholders sue Italy bank Monte dei Paschi over rescue action

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Bondholders sue Italy bank Monte dei Paschi over rescue action

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MILAN (Reuters) – Holders of a series of bonds convertible into shares of Italian bank Monte dei Paschi di Siena <BMPS.MI> have sued the lender over the terms of its state-led rescue this year, which included the mandatory conversion of some debt into shares. A representative of holders of the floating-rate FRESH bonds, maturing at the end of 2099, said in a statement on Friday a law suit had been filed on behalf of the group with a Luxembourg court arguing that the bonds should remain valid.

(Reporting by Mark Bendeich; Editing by Francesca Landini)
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