Does google index the "& nbsp;" links?

[yoy_mamen]

I need to post someone link into my website(link exchange),but I don wanna change the design of my pages in any way.
So ..does google index link like this:<a href="http://domain.com">& nbsp;</a>

[note2gina]

I doubt Google would index that because there's no anchor text. It looks like a blackhat trick.