BAA Funding Prices GBP400 Million 6% 2020 Bond At 99.323
March 13 2012 - 12:02PM
Dow Jones News
BAA Funding Ltd., a holding company for U.K. airport operator
BAA, which is owned by Grupo Ferrovial SA (FER.MC) has priced its
GBP400 million, 8-year bond at 425 basis points over the
corresponding government gilt, one of the banks running the deal
said Tuesday.
Bank of America Merrill Lynch, Lloyds Banking Group PLC, Morgan
Stanley, Santander GBM, Bankia S.A. and BBVA were the banks
managing the deal.
The terms of the transaction are as follows:
Amount: GBP400 million
Maturity: March 20, 2020
Coupon: 6%
Reoffer Price: 99.323
Payment Date: March 20, 2012
Spread: 425 basis points over the corresponding government gilt
Debt Ratings: BBB (Standard & Poor's)
BBB (Fitch)
Denominations: GBP100,000
Listing: London
Interest: Annual
-By Sarka Halas, Dow Jones Newswires; +44 (0) 207 842 9236;
Sarka.Halasova@dowjones.com
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