Schelling Believes Creditors will Agree EUR 7.8 Bln Conciliation Offer

Published: January 25, 2016; 18:30 · (FriedlNews)

Since the buyback offer for bonds of Hypo Alpe Adria bad bank Heta, with a guarantee of the province of Carinthia, extended by the province authorities, the poker game for Heta debts has begun. By 11 March two thirds of the deal have to be approved. Meanwhile a large creditor group declined the offer the same day it was announced.

Schelling Believes Creditors will Agree EUR 7.8 Bln Conciliation Offer / Picture: © ÖVP Bundespartei / Jacob Glaser

The Upper Austria province head Josef Pühringer (ÖVP) appealed to creditors to accept the offer, but the decision is up to the creditors who will have to make up their minds within the next weeks.

Finance Minister Hans Jörg Schelling (ÖVP) believes the creditors will say yes to the EUR 7.8-billion conciliation offer of Carinthia.

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