Corporate bonds are back as BAA revels in Eu4.5bn bid and pipeline nears Eu3bn

UK airports company BAA hauled in a stunning Eu4.5bn of orders for its Eu750m 10 year bond in just 90 minutes on Wednesday, proving that the climate could not be better for corporate borrowers considering issuing this autumn.

  • 17 Sep 2004

The deal followed General Motors Acceptance Corp's Eu2bn blowout in fixed and floating euros which reopened the corporate bond market last week.

But unlike GMAC, which has the shadow of a potential downgrade over its investment grade rating, BAA is rated A3/A+ and offers very ...

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