Utilities & Regulated Infrastructure
Investment-grade utilities and infrastructure issuers.
Regulated utilities and infrastructure issuers offer defensive, contracted cash flows, and the ten USD bonds screening into this theme yield between roughly 7.5% and 8.4% to worst. Mexican issuers dominate the list: CFE's 2051 and 2052 bonds yield about 7.5% and 7.6%, and Fiemex's 2041 bond yields 7.56%, all rated BBB, which provides a spread pickup for longdated exposure. Sempra's 2052 bond (7.53%) and Brookfield Infrastructure's 2055 bond (7.52%) add US and Canadian diversification, though both are rated BBB and warrant closer credit monitoring. GZGETH's 2027 bond offers the highest yield at 8.42% with the shortest maturity, while BRKHEC's BBrated 2055 bond at 7.72% adds highyield carry.
| # | 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 | 7.72 | 98.93 | 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 | 7.515 | 97.405 | 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.