Hypo Real Estate Holding AG / Agreement
29.09.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Hypo Real Estate Group has secured major new funding facility
Munich, Sep 29, 2008 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. A consortium
from the German financial sector has provided Hypo Real Estate Holding AG,
together with its subsidiaries DEPFA Bank Plc, Hypo Real Estate Bank AG and
Hypo Real Estate Bank International AG with a multi-billion Euro short-term
and mid-term credit facility sufficient to cover the Groups funding needs
well into the future. Hypo Real Estate Group had entered into talks with
the consortium in response to the extremely challenging conditions on the
international money markets following the Lehman collapse and other market
disruptions.
Georg Funke, CEO of Hypo Real Estate Group, said: 'The new credit facility
is a far-reaching and innovative approach which allows us to adjust our
funding structure in order to accommodate the current malfunctioning of the
international money markets. Hypo Real Estate Group will not need to go
back to the unsecured money market for its refunding in the foreseeable
future.'
As a consequence of the arrangement, Hypo Real Estate Holding AG will have
to impair the goodwill of its holding in DEPFA Bank Plc. This impairment
will have a significant material effect on the Groups P&L statement. A
dividend distribution for the financial year 2008 is not expected.
Hypo Real Estate Group
Following the acquisition of DEPFA Bank plc in October 2007, Hypo Real
Estate Group has evolved into one of the leading international financial
services providers for commercial real estate lending, public finance and
infrastructure finance. The Group, with total assets of 395 billion,
1,900 employees and offices across Europe, the Americas and Asia, consists
of the non-operational listed Hypo Real Estate Holding AG and operational
entities. Hypo Real Estate Bank International AG and Hypo Real Estate Bank
AG conduct the international real estate financing business. DEPFA and
DEPFA Deutsche Pfandbriefbank AG conduct the public sector and
infrastructure finance business. Additional information is to be found on
www.hyporealestate.com.
Press Contact:
Hypo Real Estate Group
Hans Obermeier
Tel.: +49 (0)89 203007 787
Fax: +49 (0)89 203007 772
E-Mail: hans.obermeier@hyporealestate.com
Contact:
Kontakt: Herr Hans Obermeier +49-89-203007-787
DGAP 29.09.2008
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Language: English
Issuer: Hypo Real Estate Holding AG
Unsöldstraße 2
80538 München
Deutschland
Phone: +49 (0)89 203 007-780
Fax: +49 (0)89 203 007-772
E-mail: ir@hyporealestate.com
Internet: www.hyporealestate.com
ISIN: DE0008027707, DE0008027731,
WKN: 802770, 802773,
Indices: DAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Hamburg, Düsseldorf, Stuttgart;
Terminbörse EUREX
End of News DGAP News-Service
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DGAP-News: Hypo Real Estate Holding AG:Hypo Real Estate Group has secured major new funding facility
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