Utilities & Regulated Infrastructure
Investment-grade utilities and infrastructure issuers.
The Utilities & Regulated Infrastructure screen highlights compelling longduration yield opportunities in USDdenominated paper, offering institutional investors robust carry across the 7.50% to 7.85% yieldtoworst band. Crossborder relative value is heavily skewed toward select emergingmarket sovereigns and quasisovereigns, with Comisión Federal de Electricidad (CFELEC) longend paper anchoring the screen with yields ranging from approximately 7.57% to 7.69%. Developed market and corporate credits provide highbeta alternatives, led by Berkshire Hathaway Energy Company's (BRKHEC) 2055 maturity offering a 7.826% YTW and Brookfield Infrastructure Partners (BIP) offering a 7.543% YTW at a discount price.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | PacifiCorp. | …DF26 | 7.375 | 7.826 | 98.6 | 2055-09-15 | 2030-06-17 | BB | USD | 850MM |
| 2 | Comision Federal de Electricidad | …BR86 | 6.264 | 7.693 | 84.1640027 | 2052-02-15 | 2051-08-15 | BBB | USD | 473MM |
| 3 | Comision Federal de Electricidad | …AE80 | 4.677 | 7.664 | 67.3 | 2051-02-09 | 2050-08-09 | BBB | USD | 613MM |
| 4 | Comision Federal de Electricidad | …AR95 | 6.125 | 7.625 | 85.2 | 2045-06-16 | BBB | USD | 602MM | |
| 5 | Electricite de France SA | …AA81 | 9.125 | 7.58 | 107.6875 | 2173-06-15 | 2033-03-15 | BB- | USD | 1.5BN |
| 6 | Electricite de France SA | …AA51 | 9.125 | 7.58 | 107.6875 | 2173-06-15 | 2033-03-15 | BB- | USD | 1.5BN |
| 7 | Comision Federal de Electricidad | …AK43 | 5.75 | 7.566 | 83.7 | 2042-02-14 | BBB | USD | 510MM | |
| 8 | Brookfield Infrastructure Finance ULC | …AA70 | 6.75 | 7.543 | 97.075 | 2055-03-15 | 2029-12-15 | BBB- | USD | 300MM |
| 9 | Buffalo Energy Mexico Holding S A De C V | …AA09 | 7.875 | 7.509 | 102.86 | 2039-02-15 | 2038-11-15 | BBB *- | USD | 521MM |
| 10 | Banco Actinver SA | …AA88 | 7.25 | 7.509 | 97.74 | 2041-01-31 | 2040-07-31 | BBB | USD | 1.46BN |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.