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Reports: Austrian FinMin hints at Heta help; bondholders demand above 90%

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Reports: Austrian FinMin hints at Heta help; bondholders demand above 90%

Austria's finance minister, Hans Jörg Schelling, said thefederal government will consider providing financial support to resolveHeta Asset ResolutionAG if a deal is reached with creditors, Reuters reported April12.

Heta Asset Resolution is the "bad bank" thathouses the assets of failed lender Hypo Alpe-Adria-Bank International.

A creditor group has said any deal must results inbondholders being paid at least 90% of the bonds' face value, according to astatement by the Teutonia creditor group cited in a separate April 12 Reutersreport.