Beni Stabili said its Imser Securitization has replaced 'without any additional charges' eight interest rate swaps with Lehman Brothers with new swaps with banks IMI and HSBC as counterparties.
Beni Stabili said its Imser Securitization has replaced 'without any additional charges' eight interest rate swaps with Lehman Brothers with new swaps with banks IMI and HSBC as counterparties.
Imser Securitization is a special purpose securitisation vehicle for 226 assets rented to Telecom Italia. The move was prompted by the collapse of the US investment bank in September.
In a statement, Italian real estate company Beni Stabili said that the swaps have a total notional value of EUR 485 mln and an inflation swap corresponding to about 87% of indexation of Telecom Italia annual rents.
