UPDATE: Banca Monte dei Paschi 5-Year Covered Bond At Swaps +1.05

22nd Jun 2010 11:48

(Adds price guidance.) By Mark Brown Of Dow Jones Newswires LONDON (Dow Jones)--Italy's Banca Monte dei Paschi di Siena SpA (BMPS.MI) plans to issue a five-year covered bond, and has set price guidance at 105 basis points over mid-swaps, a syndicate official at one of the banks running the deal said Tuesday. Earlier this month, Moody's Investors Service Inc. and Fitch Ratings both assigned expected AAA ratings to covered bonds to be issued by the bank under its EUR10 billion covered bond program. Banca Monte dei Paschi Capital Services, Morgan Stanley and Royal Bank of Scotland Group PLC are joint arrangers of the program, Dow Jones Newswires has previously reported. -By Mark Brown, Dow Jones Newswires; + 44 (0)207 842 9485, [email protected] (END) Dow Jones Newswires June 22, 2010 06:48 ET (10:48 GMT)