Austria May Dodge Provincial Default as Heta Deal ReachedBy and
Non-binding deal implies 10% haircut on state-guaranteed debt
German bad bank FMS shuns deal, Frankfurt court ruling looms
Austria and a group of Heta Asset Resolution AG creditors agreed to a 10 percent reduction on 11 billion euros ($12.4 billion) of state-guaranteed debt in a preliminary deal to prevent the country’s first provincial insolvency.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.