CCF Capital Management two weeks ago entered into a one-year USD50 million (notional) interest-rate swap in which it receives a fixed rate of 2.34% and pays one-month U.S. dollar LIBOR. CCF, a member of the HSBC Group, was approached by a bank in London, which was looking to enter the swap, according to Christophe Besson, head of derivatives and futures in Paris. He said the counterparty, which he declined to name, may have been looking to hedge an underlying exposure. Besson declined all further comment.
CCF Takes Out Interest-Rate Swap
