Mediobanca launches a Tender Offer on Fresh 2003 Notes issued by MPS Capital Trust II and secured by Banca Monte dei Paschi di Siena S.p.A.

Mediobanca launches a Tender Offer on Fresh 2003 Notes issued by MPS Capital Trust II and secured by Banca Monte dei Paschi di Siena S.p.A.
Milan, 12 May 2011 –Mediobanca – Banca di Credito Finanziario S.p.A. (“Mediobanca”) has announced today its decision to launch a tender offer (the “Offer”) on the entire nominal amount outstanding of the floating rate equity-linked subordinated hybrid preferred security named “Noncumulative Floating Rate Guaranteed Convertible FRESH Preferred Securities”(ISIN XS0180906439), amounting to approximately Euro 471 million (the “Notes”).
The Offer is made at a cash consideration equal to the 44% of the nominal value of each Note plus interest accrued through to the settlement date (for more details, see the notice pursuant to article 102 of the Italian Consolidated Law on Financial Intermediation, that follows this press release). Investors may, when submitting their application to participate in the Offer, request the cash consideration to be settled in the form of ordinary shares of Banca Monte dei Paschi di Siena S.p.A., in accordance with the procedures described in such ex article 102 notice and in the tender offer prospectus (the “Prospectus”).
All Notes purchased upon the completion of the Offer will be sold by Mediobanca to Banca Monte dei Paschi di Siena S.p.A. at the offer price plus accrued interest.
The Offer is expected to commence, subject to prior authorisation from CONSOB, before the end of May.
The text of notice made ex article 102 of the Italian Consolidated Law on Financial Intermediation is reported below.