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HETA: Coordination among Creditor Groups

LONDON - Wednesday, December 16th 2015 [ME NewsWire]

(BUSINESS WIRE)-- Several groups of holders of notes and other debt instruments issued by HETA ASSET RESOLUTION AG ("HETA") and secured by an obligation of the Province of Carinthia and/or the Kärntner Landes- und Hypothekenbank-Holding (Kärntner Landesholding) (the "Notes") comprising among others the financial institutions listed below announce that they have reached agreement not to accept any transaction including an offer pursuant to § 2a (2) of the Austrian Financial Market Stability Act (Finanzmarktstabilitätsgesetz (FinStaG)) which would result in a recovery below par. The parties to this agreement hold and/or control Notes equaling more than EUR 5 billion, which they believe represent more than one third of the Notes.

Parties to the agreement are, inter alia, the members of the Ad Hoc Group:

Bybrook Capital LLP,

Canyon Capital Advisors LLC,

Commerzbank Group,

Cyrus Capital Partners, LP,

Farallon Capital Europe LLP,

FMS Wertmanagement AöR,

HSH Nordbank AG,

Knighthead Capital Management, LLC,

N.V. Bank Nederlandse Gemeenten,

Pacific Investment Management Company, LLC (PIMCO),

Redwood Capital Management, LLC.

Further parties to the agreement are members of the Par-Investors-Pool, among them:

DEXIA Kommunalbank Deutschland AG

Bundesverband deutscher Banken e.V. - Einlagensicherungsfonds (Deposit Protection Fund of the German Banking Association)

Erste Abwicklungsanstalt AöR

Helvetia Versicherungen

Düsseldorfer Hypothekenbank AG

Further party to the agreement:

Deutsche Pfandbriefbank AG

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