BNP Paribas and Grosvenor trade First Italian property swap

risk-1107-03-gif

BNP Paribas has closed the first Italian property derivatives deal, with UK property company Grosvenor. The deal is a two-year total return swap, structured around the London-based Investment Property Databank's IPD Italy all-property index from December 2006 to December 2008 and brokered by London-based broker Icap.

The size has not been revealed but was described by Grosvenor's group finance director, Nick Scarles, as "insignificant". He adds: "This was a test trade. The purpose was to show

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: