Schoenherr has advised the Republic of Austria’s side on the successful buy-back offer of debt instruments issued by HETA ASSET RESOLUTION AG (“HETA”).
In addition to the €1.2bn contribution by the Province of Carinthia, the funds for the buy-back will be provided by the Republic of Austria. In doing so, the Republic of Austria is pre-financing to a large extent the recovery from the HETA wind-down.
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