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Creval signs pre-underwriting deal with Citigroup Global Markets for cash call

Credito Valtellinese SpA said Nov. 29 that it entered into a pre-underwriting agreement with Citigroup Global Markets Ltd. for the Italian lender's planned €700 million capital increase.

The agreement, which is in line with the one already signed with Mediobanca - Banca di Credito Finanziario SpA, will see Citigroup Global Markets become part of the underwriting syndicate for the rights issue. Citigroup Global Markets is acting as co-global coordinator and joint book runner on the cash call, alongside Mediobanca as global coordinator and book runner.