Germany's Hypo Real Estate said on Tuesday it has received an extension from SoFFin, the German financial market rescue fund, on EUR 30 bn of government aid. The bank, which received a EUR 50bn lifeline fro the German government in October, also said that negotiations with SoFFin regarding more extensive and longer-term liquidity and capital support measures for the group are continuing.
Germany's Hypo Real Estate said on Tuesday it has received an extension from SoFFin, the German financial market rescue fund, on EUR 30 bn of government aid. The bank, which received a EUR 50bn lifeline fro the German government in October, also said that negotiations with SoFFin regarding more extensive and longer-term liquidity and capital support measures for the group are continuing.
Hypo RE can use guarantees to be issued by SoFFin to collateralise debt securities. The funds are now due for repayment by 15 April 2009 at the latest, representing an extension of three months from the original repayment date of January 15. Hypo will pay to SoFFin a pro-rata commitment commission of 0.1% of the undrawn portion of the framework guarantee.
