June 07, 2024 11:45 GMT
Utilities: Week in Review
UTILITIES
- Spreads were mostly little changed; Thames Water even had a low volatility week for once.
- On the supply front we had a rare deal from Elia which priced 8bp cheap to our FV. CEZ were also in the market with an 8Y SLB. Centricatendered Sterling bonds again, interestingly at the long end. Stedin mandated a 7 year Green for next week.
- EDF had its outlook moved to positive from stable by S&P while Enel was moved from negative to stable by Moody’s.
- Iberdrola remains active in M&A.
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