Telereal securitises exchanges


Last month saw the launch of the first securitisation of telephone exchanges. Originated by Telereal, the £1.8 billion of fixed and floating rate notes use exchanges, used by principal UK operator British Telecommunications (BT), as collateral.

The transaction represents the sale and leaseback of BT’s UK portfolio of fixed-line telephone exchanges and other specialised properties. Land Securities Trillium and William Pears Family Trust (Bermuda) have established a joint venture partnership to

To continue reading...

You need to sign in to use this feature. If you don’t have a 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: