The Italian global banking and
financial services company UniCredit on Monday reached an
agreement with Quaestio Capital Managament, on behalf of the
Atlante fund, to sub-underwrite liabilities agreed by UniCredit
as part of the BP Vicenza capital increase.
The Atlante fund is a new private fund to aid struggling
Italian banks to help avert the risk of bail-ins and keep the
national banking system stable.
''Intervention by the fund, which will help meet minimum
yield targets, is in line with institutional aims and subject to
the attainment of the necessary authorizations and approvals by
the authorities in question (the European Central Bank, the
Italian central bank and the Italian Securities and Exchange
Commission) and in compliance with the regulations of the fund
itself,'' according to a statement issued by the management
company under Alessandro Penati, who signed the agreement with
UniCredit on behalf of Atlante, as the latter is still being
constituted.
The agreement ''foresees, in relation to the capital
increase for BP Vicenza's listing on the stock exchange, the
sub-underwriting by the Atlante fund of the liabilities
undertaken by UniCredit as guarantor of the capital increase.
BP Sondrio has meanwhile told Quaestio Capital Management
that it will be taking part in the Atlante fund with a maximum
of 50 million euros.
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