Portfolio sale of non-performing receivables
  1. HETA ASSET RESOLUTION AG (“HETA”), a company owned by the Republic of Austria, intends to sell a portfolio of non-performing debt receivables with aggregate gross exposure of approximately EUR 43mn arising from loans booked in Austria at HETA, towards corporate, public and/or retail debtors located predominantly in HR (hereinafter collectively referred to as the “Portfolio”) The Portfolio is secured by a range of real estate assets encompassing mainly commercial, industrial and residential properties. The contemplated sale of the Portfolio is hereinafter referred to as the "PLUTOTransaction”.
  2. It is envisaged to conduct the PLUTO Transaction in form of an asset deal (assignment of receivables) in an open, transparent and non-discriminatory sales process, which is anticipated to be closed by the end of the year 2019. The PLUTO Transaction shall be governed by Austrian law and the sale of the Portfolio will be on an “as is” basis with no or only very limited representation and warranties.
  3. It is the clear preference to sell the Portfolio via one single transaction to one bidder, separate expressions of interest (each an “Expression of Interest” or “EoI”) and/or bids for only parts of the Portfolio are also permitted, provided that the interested parties explicitly highlight their limited interest. The commercially best bid will be selected, with preferential treatment given to offers regarding 100% of the Portfolio.
  4. Individual entities, persons or consortia interested in participating in the PLUTO Transaction (each, an “Interested Party”) are required to submit a written EoI containing at least the following:

     a. Name, address and short description of the Interested Party (or of each consortium member in case of a consortium), including name and information regarding its owners up to its ultimate beneficial owner, and contact details of the person(s) who can be contacted in case of      queries.

     b. Rationale for the PLUTO Transaction.

     c. Confirmation that the Interested Party is acting as principal for its own account or, in case of agents or brokers submitting an EoI on behalf of an Interested Party, submission of written and adequate proof of the power of representation of such agent or broker.

   5. Interested Parties are required to submit their written EoI in English, titled “Expression of Interest for the Participation in the PLUTOTransaction”, by 1 pm CET on May 31th, 2019 electronically per e-mail (followed by a hard copy of the EoI promptly thereafter) to:

 

Contact details:

Helmut Gruber: (helmut.gruber@heta-asset-resolution.com)

Markus Gabriel: (markus.gabriel@heta-asset-resolution.com)

 

Original copies have to be sent to:

HETA ASSET RESOLUTION AG

Alpen Adria Platz 1,

9020 Klagenfurt, Austria

To the kind attention of Helmut Gruber

 

  6. After receipt and evaluation of their EoI, Interested Parties may be invited to participate in the further sales process and receive further information regarding the PLUTO Transaction, subject to the execution of a non-disclosure agreement provided by HETA.

  7. HETA reserves the right to extend the above stated deadline for the submission of an EoI, amend the contemplated time line, scope or any other terms of, or discontinue, the sales process with individual or all Interested Parties or amend the scope or any terms of the PLUTO Transaction as a whole or in part, or modify the PLUTO Transaction structure or change, reduce or add receivables to the Portfolio/PLUTO Transaction at its sole discretion at any time, provided that HETA will at all times act in a way consistent with the principles of an open, transparent and non-discriminatory bidding process.

  8. For further clarification or enquiries, Interested Parties may contact the contact person at HETA stated above. 

 

Legal Notices: Neither this notice nor the release of any information to an Interested Party constitutes, or may be used for, any offer to sell or a solicitation of an offer to subscribe for or purchase any securities by any person in any jurisdiction or under any circumstance where it is unlawful to make such an offer or solicitation. The distribution of this invitation in certain jurisdictions may be restricted by law, and recipients should inform themselves about, and observe any applicable legal or regulatory requirements in relation to, the distribution or possession of this invitation. Neither HETA nor any of its affiliates, directors, officers, employees, advisers or agents (“Related Parties”) accept any liability to any person in relation to the distribution or possession of this invitation in any jurisdiction. By submitting an EoI an Interested Party confirms that it is a person able to receive the information provided to it (or which may be provided to it in any subsequent phase) without contravention of any unfulfilled registration requirements or other applicable legal or regulatory restrictions in the jurisdictions in which it resides or conducts business.

 

HETA and its Related Parties expressly state that no representation or warranty is made by this invitation and expressly disclaim any and all liability for representations or warranties deemed to be made or statements contained in this invitation to any prospective purchaser.