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    Mark Freshney

    Research Analyst at Credit Suisse

    Mark Freshney is a Senior Research Analyst, formerly at Credit Suisse and currently at UBS, specializing in the utilities sector with a focus on regulated electric companies and renewable energy. He has covered firms including National Grid, Siemens Gamesa Renewable Energy, Goldwind, and Dongfang Electric, with a notable success rate of 69% and an average return of 8.5% per rating, as ranked by TipRanks and other performance tracking platforms. Freshney began his research analyst career prior to 2020, spending several years at Credit Suisse before moving to UBS AG’s London Branch in 2023, where he continues to produce highly rated and profitable investment recommendations. He is professionally credentialed as a registered securities analyst in the UK and has been recognized for delivering incisive cross-sector thematic insights for clients.

    Mark Freshney's questions to PNN.L leadership

    Mark Freshney's questions to PNN.L leadership • H1 2023

    Question

    Mark Freshney asked for details on the post-period debt refinancing, questioning the value-generation rationale of swapping index-linked debt for fixed-rate debt in a high-rate environment.

    Answer

    Executive Paul Boote explained the strategy was twofold: swaps were executed to manage P&L volatility rather than for immediate value, while the repayment of a GBP 40 million Bristol Water bond generated a GBP 20 million gain due to favorable market conditions at the time of termination.

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