Hypo Real Estate Bank International AG, a member of Hypo Real Estate Group, announces that it has taken a 27% participation - AU $1,148,000,000 (c. €700m) - in a three-month bridge loan of AU $4,185,000,000 (c. €2,551m) for Post Financier Pty Limited. The loan was arranged by Morgan Stanley Finance Australia Limited, Citibank, N.A. Sydney Branch and Credit Suisse, Sydney Branch, to assist Post Financier in the acquisition of Investa Property Group, the largest sector specific office trust in Australia.
The first disbursement of the loan occurred on Wednesday 19th September 2007 and the remainder of the facility will be drawn in October.
The transaction is the largest public to private transaction in Australia to date and constitutes a new bank commitment.
Georg Funke, CEO Hypo Real Estate Holding AG, said, "We are very pleased to have a significant participation in this major loan. Our ability to commit new funds to this multi-billion Australian Dollar loan underlines the strength of our business. As Investors are looking for quality, Hypo Real Estate Group faces new business opportunities."
Source: Hypo Real Estate