Volta pulls new investors into Portugal’s electric ABS

By Tom Porter
27 Mar 2014

Energias de Portugal was able to better the size of its first electricity tariff deficit securitization by €300m with Volta II this week, as depressed supply in ABS drives investors to quirkier asset classes to deploy cash.

At €750m Volta II is the biggest Portuguese securitization since the crisis, taking the mantle from the €450m Volta I priced in May last year, and is a further boost for a periphery jurisdiction that has seen its funding costs scream inwards in the last 12 months.

“ABS ...

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