February 04, 2025 09:08 GMT
UTILITIES: Ausgrid (AUSGF Baa1/BBB/NR): New Issue FV
UTILITIES
- IPT: Exp. EU500m 8Y MS+160 Area.
- Ausgrid has the 31s outstanding, a €525mn deal from 2021. It hasn’t shown any weakness since the mandate was announced.
- The APAAU (Baa2/BBB/NR) curve provides a reasonable reference point for longer dates.
We see FV at MS+135a.
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