Based on the annual report data for Ørsted A/S at the end of 2022, here is the reasoning: The company already has hybrid capital in its capital structure, as indicated by the "Hybrid Capital" line items on the balance sheet (DKK 19,793 million in 2023) and the related profit attribution, coupon payments, and new issuances/repurchases. The profit attributable to hybrid capital owners was DKK 577 million in 2022, and coupon payments were DKK 529 million. In 2022, the company both repurchased (DKK 1,945 million) and issued (DKK 3,693 million) hybrid capital, indicating active management and market access for this instrument. The company is profitable, with a profit of DKK 14,996 million and comprehensive income attributable to owners of the parent of DKK 12,886 million. EBITDA from operating activities is strong at DKK 32,057 million, and operating cash flow is positive at DKK 11,924 million. However, the company is highly leveraged with significant debt and other comprehensive income volatility (e.g., large losses on cash flow hedges). Given that Ørsted already successfully issues and manages hybrid bonds and maintains profitability and cash flow to service them, it is suitable to continue doing so. Strongly Suitable