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TenneT (TENN A3/A-/NR): Talks With KfW Terminated

UTILITIES

Negative for TenneT bonds. A high probability of forced redemption was priced in

  • The German govt has informed the Dutch state that the planned transaction cannot happen due to budgetary challenges.
  • TenneT will proceed with it alternative funding solutions for the German assets. Investment from infrastructure funds, a listing, or Dutch government investment were previously touted.

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