Utilities & Regulated Infrastructure
Investment-grade utilities and infrastructure issuers.
The current utilities and regulated infrastructure screen presents compelling entry points across longduration USD paper, anchored by highsingledigit yields to worst that compensate for broader macroeconomic headwinds and rate volatility. Standout totalreturn potential is evident in highbeta names like the BRKHEC 7.375% of 2055 offering an 8.019% YTW, alongside deeply discounted Mexican quasisovereign and corporate issuers such as CFELEC 2052s trading at an 7.833% YTW. Solid investmentgrade foundations persist across the top decile—exemplified by Brookfield Infrastructure’s BIP 6.75% of 2055 yielding 7.625%—providing professional fixedincome allocators with defensive cash flows coupled with meaningful capital appreciation as deeply discounted bonds pull to par.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | PacifiCorp. | …DF26 | 7.375 | 8.019 | 97.9903846 | 2055-09-15 | 2030-06-17 | BB | USD | 850MM |
| 2 | Comision Federal de Electricidad | …BR86 | 6.264 | 7.833 | 82.82029 | 2052-02-15 | 2051-08-15 | BBB | USD | 473MM |
| 3 | Comision Federal de Electricidad | …AR95 | 6.125 | 7.714 | 84.4 | 2045-06-16 | BBB | USD | 602MM | |
| 4 | Comision Federal de Electricidad | …AE80 | 4.677 | 7.71 | 66.898 | 2051-02-09 | 2050-08-09 | BBB | USD | 613MM |
| 5 | Comision Federal de Electricidad | …AK43 | 5.75 | 7.67 | 82.85 | 2042-02-14 | BBB | USD | 510MM | |
| 6 | National Gas Co of Trinidad and Tobago Ltd. | …AB71 | 6.05 | 7.655 | 89.483 | 2036-01-15 | BBB- | USD | 340MM | |
| 7 | Brookfield Infrastructure Finance ULC | …AA70 | 6.75 | 7.625 | 96.1083334 | 2055-03-15 | 2029-12-15 | BBB- | USD | 300MM |
| 8 | Infraestructura Energetica Nova Sapi De CV | …AB40 | 4.875 | 7.607 | 71.4266667 | 2048-01-14 | 2047-07-14 | BBB | USD | 540MM |
| 9 | Banco Actinver SA | …AA88 | 7.25 | 7.585 | 97.0933333 | 2041-01-31 | 2040-07-31 | BBB | USD | 1.46BN |
| 10 | Infraestructura Energetica Nova Sapi De CV | …AC23 | 4.75 | 7.563 | 68.938 | 2051-01-15 | 2050-07-15 | BBB | USD | 800MM |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.