BAA capitalises on demand for sterling bonds

BAA, the UK airports operator, has taken advantage of huge demand for long-dated sterling Eurobonds by launching a £700m (€1.1bn) issue.

BAA sold bonds on Thursday that have a 5.75% coupon and a 30-year maturity. The securities were priced at a spread, or yield premium, of 160 basis points (bps) more than the 30-year UK government bond.

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