Oct. 31 (Bloomberg) -- Hypo Real Estate Holding AG, the lender that received a 50 billion-euro ($64.3 billion) bailout from the German government, said it received an additional 15 billion-euro guarantee to cover short-term cash requirements.

The credit line from Soffin, the Financial Markets Stabilization Fund, is funded by the Bundesbank to cover its short-term funding needs following market turmoil, the Munich- based lender said late yesterday in a statement on the DGAP-Adhoc newswire.

Hypo Real Estate is the country's first private company to tap the government's rescue package. Bayerische Landesbank, Germany's second-biggest state-owned lender, asked for 5.4 billion euros of fresh capital from the fund on Oct. 22. HSH Nordbank AG, the only German state bank partially owned by private investors, and state-owned WestLB AG also said they plan to use the rescue package.

On Oct. 17, parliament approved the government's rescue plan to provide as much as 500 billion euros in loan guarantees and capital to bolster the country's banks. The package pledges 400 billion euros in loan guarantees, provides as much as 80 billion euros to recapitalize banks in distress and sets aside 20 billion euros to cover potential losses from loans.

``It is planned to refinance the liquidity provided hereunder with the liquidity facility to be provided by a German financing consortium, Deutsche Bundesbank, and the German Ministry of Finance,'' the lender said in the statement.

Hypo Real Estate reached an agreement with the financing group on a key element of this latter facility. It expects ``liquidity lines'' will be fully available by mid-November, it said.

Hypo Real Estate was forced to seek the lifeline after its Dublin-based Depfa Bank Plc unit failed to get short-term funding amid the credit crunch.

To contact the reporter on this story: Nadja Brandt in Los Angeles at nbrandt@bloomberg.net

Last Updated: October 30, 2008 19:29 EDT