Asia Tech & New Economy
Asian technology and communications issuers.
The Asia Tech & New Economy screen is currently dominated by highyielding Japanese communications paper, led by SoftBank Group’s USDdenominated senior and deeply discounted longdated issues offering compelling riskadjusted entry points. Yields across the topranked tier hover between 8.40% and 9.75%, exemplified by the SoftBank 9.75% 2034 trading near par at a 9.7% YTW and the shorterduration SoftBank 7% 2031 offering an 8.40% YTW. For institutional portfolios seeking highbeta Asian tech exposure, BB+ rated paper like the SoftBank 8.5% 2036 at a 9.01% YTW provides attractive relative value and strong absolute carry relative to broader EM benchmarks.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Softbank Group Corp. | …AC70 | 9.75 | 9.7 | 100.2509375 | 2034-04-01 | 2034-01-01 | BB+ | USD | 4.5BN |
| 2 | Softbank Group Corp. | …7427 | 8.25 | 9.552 | 92.28125 | 2065-10-29 | 2035-07-29 | B+ | USD | 1.1BN |
| 3 | Softbank Group Corp. | …7005 | 7.625 | 9.52 | 91.9784616 | 2061-04-29 | 2031-01-29 | B+ | USD | 900MM |
| 4 | Softbank Group Corp. | …AB97 | 9.25 | 9.198 | 100.2080448 | 2032-04-01 | 2032-01-01 | BB+ | USD | 4.5BN |
| 5 | Softbank Group Corp. | …9169 | 8.5 | 9.012 | 96.7716667 | 2036-04-22 | 2036-01-23 | BB+ | USD | 500MM |
| 6 | Softbank Group Corp. | …2355 | 7.5 | 8.83 | 92 | 2035-07-10 | 2035-04-10 | BB+ | USD | 500MM |
| 7 | Softbank Group Corp. | …8864 | 8.25 | 8.802 | 97.7955 | 2031-10-22 | 2031-07-24 | BB+ | USD | 600MM |
| 8 | Softbank Group Corp. | …2272 | 7.25 | 8.636 | 93.8166667 | 2032-07-10 | 2032-04-11 | BB+ | USD | 600MM |
| 9 | Softbank Group Corp. | …4112 | 6.875 | 8.42 | 94.574579 | 2031-01-10 | 2030-10-12 | BB+ | USD | 600MM |
| 10 | Softbank Group Corp. | …2818 | 7 | 8.396 | 94.6255556 | 2031-07-08 | 2031-04-09 | BB+ | USD | 500MM |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.