Asia Tech & New Economy
Asian technology and communications issuers.
The Asia Tech & New Economy screen is currently dominated by Japanese and Hong Kong communications issuers, presenting distinct highyield opportunities against a backdrop of stabilizing regional tech fundamentals. SoftBank dominates the upper tiers of the screening list with a heavy concentration of seniorranking USD issues offering compelling doubledigit and highsingledigit yields, such as the 9.75% 2034 printing at a 9.761% YTW and the 8.25% 2031 note offering an 8.958% YTW. Further down the curve, longerdated paper from SoftBank—including the 7.5% 2035 offering an 8.95% YTW and the 7.25% 2032 issue at an 8.7% YTW—provides professional fixedincome investors with attractive riskadjusted duration pickup within the BB+ credit tier.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | HKT Capital No.1 Ltd. | …4082 | 0 | 22.814 | 100.5 | 2030-01-15 | BBB | USD | 300MM | |
| 2 | Softbank Group Corp. | …6676 | 6.875 | 9.957 | 97.3022143 | 2167-07-19 | 2027-07-19 | B+ | USD | 1.75BN |
| 3 | Softbank Group Corp. | …AC70 | 9.75 | 9.761 | 99.9266585 | 2034-04-01 | 2034-01-01 | BB+ | USD | 4.5BN |
| 4 | Softbank Group Corp. | …7427 | 8.25 | 9.743 | 90.4590152 | 2065-10-29 | 2035-07-29 | B+ | USD | 1.1BN |
| 5 | Softbank Group Corp. | …7005 | 7.625 | 9.523 | 92.0028 | 2061-04-29 | 2031-01-29 | B+ | USD | 900MM |
| 6 | Softbank Group Corp. | …AB97 | 9.25 | 9.249 | 99.9873836 | 2032-04-01 | 2032-01-01 | BB+ | USD | 4.5BN |
| 7 | Softbank Group Corp. | …9169 | 8.5 | 9.072 | 96.4121429 | 2036-04-22 | 2036-01-23 | BB+ | USD | 500MM |
| 8 | Softbank Group Corp. | …8864 | 8.25 | 8.958 | 97.2023913 | 2031-10-22 | 2031-07-24 | BB+ | USD | 600MM |
| 9 | Softbank Group Corp. | …2355 | 7.5 | 8.95 | 91.345 | 2035-07-10 | 2035-04-10 | BB+ | USD | 500MM |
| 10 | Softbank Group Corp. | …2272 | 7.25 | 8.7 | 93.5776858 | 2032-07-10 | 2032-04-11 | BB+ | USD | 600MM |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.