Hypo Real Estate Group
Corporate Communications
Unsöldstr. 2
80538 München
Press release
Hypo Real Estate Group welcomes agreement on credit lines
Munich, 6 October 2008 – The Management Board of Hypo Real Estate
Holding AG has welcomed the agreement between the German Government,
the German Central Bank, the Financial Regulator BaFin and senior
representatives of the German banking and insurance sector regarding credit
lines for Hypo Real Estate Group. “We are very grateful for the support of
all the parties. This solution ensures that Hypo Real Estate Group is
stabilised, will have access to sufficient liquidity even in an ongoing
financial crisis, and can continue to operate”, Georg Funke, CEO, stated on
Monday morning in Munich.
The Ministry for Finance stated earlier that the finance sector will grant
Hypo Real Estate Group an additional secured credit line of €15bn in
addition to the €35bn already offered jointly by the German Government and
finance sector. This increase became necessary as a result of the
intensification of the financial crisis during the past week. The Government
is providing a guarantee of up to €35 bn.
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
