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Furthermore, given the financial markets crisis has not been fully resolved, Hypo Real Estate Group applied to SoFFin for a recapitalisation in an aggregate amount of 10bn, of which 7.
Dr Axel Wieandt, the bank's chief executive officer, said the investment would "provide the basis for the continued existence of Hypo Real Estate Group as a going concern.
uk Real estate bank Hypo Real Estate Group (HREG) has secured another EUR12bn (USD15.
For more information on Depfa Bank's rating downgrade see the release titled 'Fitch Downgrades Hypo Real Estate Group and subsidiaries to 'A-'.
The investment would "provide the basis for the continued existence of Hypo Real Estate Group as a going concern," said Axel Wieandt, the bank's chief executive, in the statement.
For more information about the Hypo Real Estate Group, please visit its website at http://www.
MUNICH, Germany -- Hypo Real Estate Group has secured a major new credit facility which is designed to shield the company from the impact of the current malfunctioning of the international money markets.
The German Financial Markets Stabilisation Fund has extended its framework guarantee granted to Hypo Real Estate Group by an additional 12 billion euros, bringing the aggregate guarantee amount to 42 billion euros," the bank said.