We are continuing to work with and advise large property companies that have large interest rate hedging exposures. In some cases, even with these large organisations, there may be a case for mis-selling by the Banks of these interest rate swaps, if sufficient, clear risk disclosure was not provided.
The HQ Building of Santander in Madrid has a current interest rate swap exposure of €650m.
In 2008, this was Europe’s largest Property Transaction.
The article from the Sunday Times is here: