News, details on corporate bond issues in the European markets on Friday:
BAA FUNDING LTD [FERBF.UL]
Launch: Order books have shut on its 700 million pound ($1.15 billion) 17-year sterling denominated bond issue. The deal has increased from 500 million while spread guidance has narrowed from Gilts plus 280/290 basis points.
Spread guidance: Gilts plus 270 basis points
Managing banks: BNP Paribas, Citi, HSBC, RBC, RBS, Caja Madrid, Calyon, Santander
Rating: S&P A-, Fitch A-