The highlight of the week was the US$500 million bond issue by Sydney Airport, which the company sold at a spread of 260 basis points for a bond with a ten-and-a-half year term.The pricing was initially pitched at a range from 275 bps to 300 bps, then reduced to 262.5 bps to 275.0 bps, and finally issued at a still lower margin. Investors were able to buy Sydney Airport bonds, rated BBB by Standard & Poor's, at a better yield than for Asciano's recent debt-raising, with a 2020 term. This is quoted in the secondary market at a spread of between 202 bps and 215 bps, according to Reuters. S&P rates Asciano BBB-.Sydney Airport also confirmed new debt commitments from several banks on Friday. This will extend the maturity profile of its debt of around $1.4 billion. The company said it received debt commitment from banks for term ranging from three years to seven years at a spread of 200 bps to 250 bps over the 90-day swap rate.In other issues, GE Capital Australia raised $750 million, by selling five-year bonds to global investors at 175 basis points over swap rates. The issue was over-subscribed, with bids received in excess of $1 billion. Meanwhile, Telecom Italia is reported to have cancelled roadshows in Sydney and Melbourne for possible bond issues, after such plans became public. German landesbank WestLB plans a "non-deal roadshow".