Euromoney Liquid real estate March 2007
Under the terms of the deal, ABN Amro, the effective buyer of the property, receives from Sun Hung Kai Financial an income stream equivalent to the change in the University of Hong Kong-Hong Kong Island Residential Price Index (HKU-HRPI) while Sun Hung Kai will receive from ABN Amro Hibor plus an undisclosed spread.
HKU-HRPI is a sub-index of a series devised and compiled by Hong Kong University.
“It’s a very robust index,” says Philip Ljubic, a director in property derivatives at ABN Amro.
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