Utilities & Regulated Infrastructure
Investment-grade utilities and infrastructure issuers.
Regulated utilities and infrastructure issuers offer essentialservice cash flows, and this screen of ten USD bonds shows yields clustering between roughly 7.4% and 8.7%, above what is typical for highgrade utility paper. Mexican names dominate the list: CFE's (CFELEC) 5.75% 2042 yields 7.47% and its 6.125% 2045 yields 7.51%, both rated BBB, while Ienova's 4.875% 2048 offers 7.44% at the same rating. Relative value stands out at the short end, where GZGETH's 2.85% 2027 notes yield 8.74%, and BRKHEC's 7.375% 2055 yields 7.74% at a BB rating, a reminder that the extra yield compensates for credit and duration risk.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Guangzhou Development District Holding Group Co Ltd. | …8466 | 2.85 | 8.741 | 98.875 | 2027-01-19 | Inv Grade 4 | USD | 490MM | |
| 2 | Guangzhou Development District Holding Group Co Ltd. | …9305 | 4.4 | 7.936 | 96.5 | 2027-11-28 | Inv Grade 4 | USD | 500MM | |
| 3 | PacifiCorp. | …DF26 | 7.375 | 7.735 | 98.8875 | 2055-09-15 | 2030-06-17 | BB | USD | 850MM |
| 4 | Comision Federal de Electricidad | …BR86 | 6.264 | 7.577 | 85.3 | 2052-02-15 | 2051-08-15 | BBB | USD | 473MM |
| 5 | Banco Actinver SA | …AA88 | 7.25 | 7.518 | 97.6666667 | 2041-01-31 | 2040-07-31 | BBB | USD | 1.46BN |
| 6 | Comision Federal de Electricidad | …AR95 | 6.125 | 7.513 | 86.2 | 2045-06-16 | BBB | USD | 602MM | |
| 7 | Comision Federal de Electricidad | …AE80 | 4.677 | 7.508 | 68.6 | 2051-02-09 | 2050-08-09 | BBB | USD | 613MM |
| 8 | Comision Federal de Electricidad | …AK43 | 5.75 | 7.468 | 84.5 | 2042-02-14 | BBB | USD | 510MM | |
| 9 | Buffalo Energy Mexico Holding S A De C V | …AA09 | 7.875 | 7.462 | 103.2325 | 2039-02-15 | 2038-11-15 | BBB *- | USD | 521MM |
| 10 | Infraestructura Energetica Nova Sapi De CV | …AB40 | 4.875 | 7.441 | 72.845 | 2048-01-14 | 2047-07-14 | BBB | USD | 539MM |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.