Will The Wires REIT Become The Next Midstream MLP?

Law360, New York (October 9, 2014, 10:22 AM EDT) -- Since 2009, yield-oriented corporate structures have dominated the energy and power capital markets. There have been over 30 initial public offerings for midstream energy master limited partnerships since 2009. In the power space, the NRG Yieldco initial public offering in 2013 initiated a frenzy among power company executives, assisted by their bankers, to analyze renewable assets in their portfolio in the hopes of forming a yieldco to access the capital markets. Although not possessing certain favorable tax attributes found in MLPs, yieldcos nevertheless are flourishing. As of the third quarter of 2014, five yieldco IPOs have been completed and several more are rumored to be in the pipeline....

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