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Almost 99% of Heta creditors accept discounted buyback offer

'sdiscounted buyback offer for about €11 billion in debt issued by the formerHypo Alpe-Adria-Bank International was accepted by 98.7% of creditors, theregional government of the Austrian province of Carinthia said Oct. 10.

Approvalfrom two-thirds of them, including at least 25% of each of senior and juniorcreditors, was required for the offer, which is expected to see seniorbondholders recoup90% of their bonds' face value and junior bondholders 45%.

Morethan 99.5% of senior bondholders accepted the offer, while 89.4% of juniorcreditors agreed to it.