BAA Funding has launched the first bond from its programme set up in August 2008 to provide financing for London's Heathrow and Stansted airports. Clifford Chance advised co-arrangers Citi and The Royal Bank of Scotland, as well as other members of the dealer group on the first £700 million ($1.1 billion) worth of bonds, and the dealer managers on a further issue of £235 million. A separate team from Clifford Chance assisted Deutsche Trustee Company as bond and borrower security trustee, and BAA was represented by Freshfields Bruckhaus Deringer.
February 01 2010