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Creval adds more underwriters for €700M cash call

Italian lender Credito Valtellinese SpA said Commerzbank and Jefferies joined the underwriting syndicate for its €700 million cash call as senior joint book runners, while Keefe Bruyette & Woods and Equita SIM joined as joint book runners.

The bank entered into a pre-underwriting agreement with all new book runners, in addition to the one already executed with other syndicate banks. The underwriting syndicate also includes Mediobanca as sole global coordinator and joint book runner, with Banco Santander, Barclays, Citigroup Global Markets Ltd. and Credit Suisse as co-global coordinators and joint book runners.

Creval said other financial firms could be invited to join the syndicate before the launch of the rights issue. The cash call will reportedly be launched Feb. 19, two weeks before Italy's general elections.