Hypo Real estate Bank has launched a €1.5 bn Senior Unsecured Benchmark bond. It carries a variable coupon of three-months-Euribor +0.125% and matures in three years. The reoffer-spread has been set at +20 bp over three-months-Euribor and the reoffer price has been fixed at 99.786%.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
