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-

BNP Paribas Investment