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Austrian Financial Services Headlines

German Court Admits Test Case Against MPC Capital

Austrian consumer information association VKI has scored a legal victory against German issuing house MPC with regard to Dutch fund investments. The Hamburg-based court has allowed a test suit of the Austrian aggrieved party against the German company. VKI thinks the court decision is already a sensation and hopes to file more lawsuits against MPC.

Yesterday

Breitenender Collects EUR 90 Million in Bond Issue

Viennese garage and parking lot operator Johann Breiteneder has launched a bond issue, in order to raise money to repay debts. The company Best in Parking (BIP) has placed unsecured bonds worth EUR 90 million (USD 100.8 million) with private and institutional investors. The coupon rate of the seven-year bonds is 3.375 percent, whereas the denomination of one bond is EUR 1000.

Yesterday

Fitch Confirmed Austria’s AA+ Credit Rating

Austria’s AA+ credit rating has not been changed by Fitch, the US rating agency. The outlook remains stable, Fitch announced. Austria’s economy will likely grow 1.7 percent this year and the next.

Yesterday

OeNB: No to Abolishing of EUR 500 Bill

Austria’s central bank Oesterreichische Nationalbank (OeNB) is against the abolishment of the 500-euro-bill, it follows from a statement of OeNB director Kurt Pribil, broadcast by ORF.

Yesterday

Immofinanz Completes Sale of Logistics Properties to Blackstone

Listed real estate group Immofinanz has completed the sale of its logistics properties portfolio to the US financial investor Blackstone, in a deal that will provide the Austrian firm with EUR 305 million (USD 331 million) in net receipts, Immofinanz said.

February 1, 2016

Fidelity Austria CEO: Austria's Funds Market in for Shake-Out

The Austrian fund market is facing a further shakeout, in the opinion of Fidelity Austria head Adam Lessing. The mid-sized fund managers will be under pressure, he told APA.

February 1, 2016

UniCredit Bank Austria Named Best Trade Finance Bank in Austria

US financial magazine "Global Finance" selected Bank Austria for the eighth time in a row "Best Trade Finance Bank" in Austria.

January 21, 2016

ÖVAG Bad Bank Immigon Terminates Certificates

ÖVAG bad bank Immigon has decided to terminate certain certificates on February 23, 2016. In particular, Immigon will terminate following five outstanding certificates: index certificate on ATX, index certificate on CECE, index certificate on Hang Seng, index certificate on Hang Seng China and index certificate on RDX USD Index.

January 19, 2016

Bawag Upholds Plans to Launch Islam Accounts

Contrary to retailer Spar, which gave up on selling halal meat after public criticism, Bawag PSK wants to carry on with its pilot launch of special, Sharia-compliant accounts for Muslim customers in three branch offices in Vienna.

January 15, 2016

Risk Fund Speedinvest Invests EUR 600,000 in Estonian Startup Investly

Austrian risk capital fund Speedinvest has invested 600,000 euros in the Estonian crowdfunding platform Investly. With the investment Investly plans to accelerate its product and sales development, and expand to new markets, the startup said. According to the partner in the fund Stefan Klestil, Speedinvest can shape Investly into an international success story.

January 15, 2016