Australian infrastructure assets are in demand as suitors act to lock in cheap long term funding, AusNet Services (AST) the latest company to attract overseas attention. Gas pipeline business APA has not experienced such interest, instead their share price has fallen as they look to position themselves to buy Basslink, an electricity interconnector that allows the trade of electricity between Tasmania & the National Electricity Market. APA is a highly defensive, regulated utility business with an expected yield over the coming 12 months of 5.74% (unfranked).
MM is now bullish APA & a likely buyer in our Income Portfolio around $8.80
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