NextGen Brokers First AEU Put Option

In a press release issued yesterday, NextGen annouced that it has brokered a put option last week on a notional 50,000 AEUs. The buyer paid $2.20 for a strike price of $19 on the 2011/2012 vintage certificates.

Energy Sector Needs Over $97 Billion – ESAA

Yesterday, the Energy Supply Association of Australia (ESAA) released the results of its ‘Global Financial Crisis Survey‘. The key findings were that:

• Over $97 billion is needed to refinance existing generation and network assets and to invest in existing and new assets;
• $29 billion is required for network refinancing alone, and around $17.5 billion of this must occur over the next two years;
• The market for such refinancing has become tight recently with credit spreads widening to up to 350 basis points; and
• Electricity generators estimate they would need to spend another $20 billion in CPRS permits over the next five years.

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