Utilities buyers kept busy with run of new issues
In a busy week for utility company bonds Iren, the Italian electricity and gas distributor, on Tuesday announced a new benchmark green bond alongside a tender offer for some of its outstanding bonds.
Three other utilities issued this week, with a further three completing roadshows.
“There has been a deluge of utility supply,” said Karan Shah, syndicate manager at Barclays. “Snam, A2A and Innogy have all priced excellent deals. RTE is ready to go, and several others will follow next week.”
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