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Majority for Heta settlement reached - Austrian finance minister
October 4, 2016 / 6:25 AM / a year ago

Majority for Heta settlement reached - Austrian finance minister

VIENNA (Reuters) - The necessary majority of creditors of Austrian “bad bank” Heta Asset Resolution has agreed a settlement offer to put the country’s worst financial disaster in 60 years behind it, Austrian Finance Minister Hans Joerg Schelling said on Tuesday.

“As of the end of last week, I can report that the status is now that 75 percent of creditors for senior bonds agree and 50 percent for junior bonds,” Schelling said.

Creditors have until Friday to accept the offer.

Reporting by Kirsti Knolle; Writing by Maria Sheahan; Editing by Eric Auchard

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