Carige: cda plan for the ECB, bond yield at 13% and maturity at 5 years



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Carige 's Board of Directors, meeting today, November 29, reviews the final details of the new plan.
preservation of capital, which will be launched within the deadline required by the ECB (30 November 2018). In the context of capital preservation
Today, the board of directors will also define the conditions under which the subordinated loan will be issued to be subscribed.
320 million other Italian credit institutions, through the Interbank Deposit Protection Fund (Fidt), as well as
the terms of its future transformation into shares. According to financial sources, there are also actions on the board table
continue the derisory activity, with the sale of additional tranches of non-performing loans (NPL).


The bond issue will however be exercised tomorrow, November 30, after the meeting of the badembly of Fidt. The subordinate, in fact, must be
subscribed by the voluntary scheme of the fund. It should have a return of 13%, a maturity of 5 years and a maturity of up to 12 months for the conversion of the security.
which, according to the strengthening plan announced on November 12, should be repaid in the spring by an increase of
capital up to 400 million euros.

The bond is also presented to the main shareholders of the bank (Malacalza Investimenti, Financiera Lonestar di Gabriele
Volpi, Pop12 by Raffaele Mincione) and expects, besides the subscription of 320 million euros by the voluntary scheme,
an intervention from other insurers, ranging from zero to 80 million euros. If this threshold is exceeded, the Fund
Interbank would reduce its commitment to a minimum of 200 million.


The Board of Directors of Banca Pbadadore has meanwhile decided to participate, for its part, in the intervention for Carige
promoted by the voluntary scheme.
On the front of Carige's accounts, we also note the issue of 256.5 million euros, between losses and value adjustments on loans,
counted in the last quarter. In fact, some advisers reportedly requested that internal offices deepen
the reasons why this sum did not appear earlier, already with the previous council.

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