Hypo Real Estate Holding AG, the German lender that received a government bailout, drew offers of as much as 350 million euros ($472 million) for Dublin-based Depfa Bank Plc, two people familiar with the matter said.
Puerto Rico is trying to refinance debt or negotiate with creditors to avoid making a $940 million payment, almost 10 percent of its budget, after the U.S. commonwealth was cut to junk by Standard & Poor’s and Moody’s Investors Service.
Hypo Real Estate Holding AG , the commercial-property lender rescued by the German government following the financial crisis, failed a Europe-wide banking stress test, two people familiar with the results said.
Hypo Real Estate Holding AG , the only German lender that failed the European Union’s banking stress test last month, reported a smaller second-quarter loss as it set aside less money to cover bad loans.
Blackstone Group LP, the private- equity firm that cashed in on Germany’s booming housing market last year, plans to join the ranks of investors shifting money into the country’s commercial properties, where financially- strapped owners are under pressure to make deals.
Pbb Deutsche Pfandbriefbank, the biggest unit of Germany’s Hypo Real Estate Holding AG, said third-quarter profit rose 27 percent as a property sale helped offset costs related to the valuation of derivatives.
Extra staff payments at Hypo Real Estate Holding AG , the lender whose 2009 implosion and state bailout represented Germany’s biggest bank failure since World War II, were “not inappropriate,” the government said.