BAA explores Canada as new funding market
BAA, the UK airports group, is roadshowing in Canada today and tomorrow, with a view to exploring a possible debut bond issue in Canadian dollars. The company also launched a £180m private placement today.
The sterling issue was a 10 year note, priced at par by BNP Paribas and HSBC with a 1.65% coupon.
Very few foreign companies have issued Maple bonds in recent years, partly because the Canadian market is of limited size, and partly because the swap costs have not been
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