July 31, 2014 / 9:07 AM / 4 years ago

Austrian president signs Hypo "haircut" law

VIENNA, July 31 (Reuters) - Austrian President Heinz Fischer has signed a law that will wipe out the claims of subordinated debt holders in nationalised bank Hypo Alpe Adria, his office said on Thursday.

Fischer said he had concerns about the law, which enters uncharged territory for debt markets because the creditors had guarantees from Hypo’s home province, but had to sign it to free the way for Austria’s constitutional court to examine it. (Reporting by Georgina Prodhan; Editing by David Holmes)

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