EFTA Document EFTA01378314

INTERNAL USE ONLY DO NOT DISTRIBUTE IN PART OR IN WHOLE Corporate Credit > U.S. Investment Grade Oncor Electric Delivery Updated: November 2, 2015 Trade Idea: Buy Oncor 10-year bonds Investment Rationale: - On 8/10/15 ONCRTX's parent Energy Future Holdings filed an amended bankruptcy plan stating that it would like to move forward with the InfraREIT proposal since they offered the most cash to certain creditors. However, under the proposed REIT structure, the cost of capital would like