FMA Österreichische Finanzmarktaufsicht

EANS-News: FMA Austrian Financial Market Authority
notice according to Art 116 para 6 BaSAG

  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.

Company Information/FMA Measure

The Austrian Financial Market Authority (FMA) in its function as the resolution
authority under the Austrian Bank Recovery and Resolution Act (BaSAG)
transposing the EU Bank Recovery and Resolution Directive (BRRD) into national
law hereby notifies the application of the bail-in tool in respect of HETA ASSET
RESOLUTION AG by emergency administrative decision of 10 April 2016.

* The Common Equity Tier 1 positions, the principle amount of Tier 2 capital and
  all other subordinated debt as well as the interest accrued thereon up to 28
  February 2015 has been written down to zero.
* The principal amount or outstanding amount of the remaining eligible
  liabilities, including for those liabilities for which the facts had already
  been substantiated as of 01 March 2015, but for which the eligibility or
  amount remains unclear, as well as the interest accrued thereon up to 28
  February 2015 has been written down to a quota of 46.02 percent.

In parallel, additional resolution powers have been applied.

* The maturity of all debt instruments issued by HETA ASSET RESOLUTION AG, other
  eligible liabilities and outstanding amounts, which already existed before 01
  March 2015, has been altered to the date when the decision to liquidate HETA
  ASSET RESOLUTION AG pursuant to Art. 84 para. 9 BaSAG will be taken, or to 31
  December 2023, whichever is earlier.
* The interest rate for eligible liabilities and relevant HETA-issued capital
  instruments was set at zero percent with effect from 01 March 2015.
* The rights and obligations attached to the existing shares and other
  instruments of ownership in HETA ASSET RESOLUTION AG have been cancelled
  except for the rights of interest that have been conferred upon the FMA. The
  FMA has exercised the power to take control of HETA ASSET RESOLUTION AG and
  exercises the rights of influence conferred upon its shareholders.

The edict including a list of the eligible liabilities concerned is accessible

The emergency administrative decision of 1 March 2015, which was subject to the
legal challenge procedure according to BaSAG, has been upheld by the decision of
10 April 2016:

For questions regarding the individual issuances please be referred to the

Further inquiry note:
Elisabeth Pechmann, BA
Corporate Communications / Investor Relations
+43 (0) 50209 4623

end of announcement                               euro adhoc 

company:     FMA Österreichische Finanzmarktaufsicht 
             Otto-Wagner-Platz  5
             A-1090 Wien
phone:       +43(1)249 59-0
FAX:         +43(1)249 59-5499
sector:      Economy, Business & Finance
ISIN:        -
language:   English

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