Signa Bonds Drop as Austrian Prosecutors Search Office in Probe
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Bonds of Signa Development Selection AG slumped to the lowest on record after Austrian prosecutors searched the offices of billionaire Rene Benko’s holding company over corruption allegations.
The real-estate developer’s €300 million notes ($295 million) due 2026 fell almost 3 cents on the euro to 55.7 cents on Tuesday, according to data compiled by Bloomberg.