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Hybrid Bond for Hypo Group
In order to cover the capital shortfall of Hypo Group, the Austrian state may inject € 500m into the nationalized bank. Furthermore, the bank plans to issue bonds worth € 1.0bn.
Hybrid Bond for Hypo Group / Picture: © Wikipedia / JJ55 (30 March 2008)
The Austrian state has to equalize Hypo Group´s capital shortfall until March 2013. In total, the Austrian bank needs € 2.2bn. In November, the bank is said to issue hybrid bonds worth up to € 1.0bn. According to the news agency Reuters, the bond issue will not be enough. The Austrian state will have to inject cash contributions worth € 500m. This is substantially more…
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