Utilities & Regulated Infrastructure
Investment-grade utilities and infrastructure issuers.
Utilities and regulated infrastructure offer predictable, assetbacked cash flows, and this theme pairs that defensiveness with yields of roughly 7.5% to 8.4% across the ten screened bonds. Investmentgrade paper is well represented, with Sempra's 4.125% 2052 notes (SRE, BBB) yielding 7.533% and Brookfield Infrastructure's 6.75% 2055 notes (BIP, BBB) yielding 7.517%, offering longdated income from established infrastructure platforms. Mexican issuers feature prominently, with CFE's 4.677% 2051 notes (CFELEC, BBB) at 7.533% and IENOVA's 4.75% 2051 notes at 7.482%, while the shortdated GZGETH 2.85% 2027 notes lead the set at 8.421%. BRKHEC's 7.375% 2055 notes yield 7.718% at BB, showing the theme spans both investmentgrade and highyield credit.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Guangzhou Development District Holding Group Co Ltd. | …8466 | 2.85 | 8.421 | 98.875 | 2027-01-19 | Inv Grade 4 | USD | 490MM | |
| 2 | PacifiCorp. | …DF26 | 7.375 | 7.718 | 98.9375 | 2055-09-15 | 2030-06-17 | BB | USD | 850MM |
| 3 | Comision Federal de Electricidad | …BR86 | 6.264 | 7.578 | 85.29713 | 2052-02-15 | 2051-08-15 | BBB | USD | 473MM |
| 4 | Banco Actinver SA | …AA88 | 7.25 | 7.562 | 97.2916667 | 2041-01-31 | 2040-07-31 | BBB | USD | 1.46BN |
| 5 | Comision Federal de Electricidad | …AE80 | 4.677 | 7.533 | 68.385 | 2051-02-09 | 2050-08-09 | BBB | USD | 613MM |
| 6 | Sempra | …BM02 | 4.125 | 7.533 | 99.5083334 | 2052-04-01 | 2027-01-01 | BBB- | USD | 1BN |
| 7 | Comision Federal de Electricidad | …AR95 | 6.125 | 7.524 | 86.1 | 2045-06-16 | BBB | USD | 602MM | |
| 8 | Brookfield Infrastructure Finance ULC | …AA70 | 6.75 | 7.517 | 97.38125 | 2055-03-15 | 2029-12-15 | BBB- | USD | 300MM |
| 9 | Infraestructura Energetica Nova Sapi De CV | …AC23 | 4.75 | 7.482 | 69.655 | 2051-01-15 | 2050-07-15 | BBB | USD | 800MM |
| 10 | Comision Federal de Electricidad | …AK43 | 5.75 | 7.479 | 84.4 | 2042-02-14 | BBB | USD | 510MM |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.