Utilities & Regulated Infrastructure
Investment-grade utilities and infrastructure issuers.
The utilities and regulated infrastructure sector offers compelling entry points for fixedincome investors seeking attractive longterm yields, with our topscreened USDdenominated cohort delivering yieldstoworst clustered tightly between 7.49% and 7.95%. Berkshire Hathaway Energy's longend offering (BRKHEC 7.375% maturing September 2055) anchors the screen at the highyield end with a 7.95% YTW at a discounted price of 98.21, balancing strong corporate sponsorship with a generous duration premium. Crossborder relative value is heavily concentrated in investmentgrade emerging market infrastructure, led by Mexican and Latin American issuers such as CFE (featuring yields spanning 7.67% to 7.80% across various longdated maturities) and FIEMEX (yielding 7.51% on its 2041 maturity), providing robust realasset backing at substantial credit spreads.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | PacifiCorp. | …DF26 | 7.375 | 7.95 | 98.2053572 | 2055-09-15 | 2030-06-17 | BB | USD | 850MM |
| 2 | Comision Federal de Electricidad | …BR86 | 6.264 | 7.802 | 83.10772 | 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 | 7.706 | 66.9378773 | 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 | 7.668 | 89.4065 | 2036-01-15 | BBB- | USD | 340MM | |
| 7 | Brookfield Infrastructure Finance ULC | …AA70 | 6.75 | 7.657 | 95.75 | 2055-03-15 | 2029-12-15 | BBB- | USD | 300MM |
| 8 | Banco Actinver SA | …AA88 | 7.25 | 7.511 | 97.71875 | 2041-01-31 | 2040-07-31 | BBB | USD | 1.46BN |
| 9 | Infraestructura Energetica Nova Sapi De CV | …AB40 | 4.875 | 7.508 | 72.25 | 2048-01-14 | 2047-07-14 | BBB | USD | 540MM |
| 10 | Buffalo Energy Mexico Holding S A De C V | …AA09 | 7.875 | 7.49 | 103.015 | 2039-02-15 | 2038-11-15 | BBB *- | USD | 521MM |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.