Asia Tech & New Economy
Asian technology and communications issuers.
The Asia Tech & New Economy theme captures Asian technology and communications issuers, giving incomefocused investors access to digital infrastructure and connectivity credits across the region's USD bond market. SoftBank's 9.75% 2034s yield 10.23% at a BB+ rating, the highest yield among the BB+ names screened, and offer a meaningful pickup over shorterdated paper. The SoftBank 7.25% 2032s, also BB+, yield 8.98% with a shorter maturity, suiting investors who want a more moderate duration profile while keeping solid income. Longerdated B+ paper, such as the SoftBank 8.25% 2065s at 9.89%, adds further yield but carries a lower rating and greater price sensitivity to changes in credit conditions. All ten screened bonds sit in communications, so the theme is concentrated in a single sector and issuer group. Relative value across maturities and ratings matters more here than sector diversification.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | HKT Capital No.1 Ltd. | …4082 | 0 | 22.814 | 100.9 | 2030-01-15 | BBB | USD | 300MM | |
| 2 | Softbank Group Corp. | …AC70 | 9.75 | 10.226 | 97.5515 | 2034-04-01 | 2034-01-01 | BB+ | USD | 4.5BN |
| 3 | Softbank Group Corp. | …AB97 | 9.25 | 10.181 | 96.1875 | 2032-04-01 | 2032-01-01 | BB+ | USD | 4.5BN |
| 4 | Softbank Group Corp. | …6676 | 6.875 | 10.043 | 96.5 | 2167-07-19 | 2027-07-19 | B+ | USD | 1.75BN |
| 5 | Softbank Group Corp. | …7427 | 8.25 | 9.891 | 89.0675 | 2065-10-29 | 2035-07-29 | B+ | USD | 1.1BN |
| 6 | Softbank Group Corp. | …7005 | 7.625 | 9.713 | 90.188125 | 2061-04-29 | 2031-01-29 | B+ | USD | 900MM |
| 7 | Softbank Group Corp. | …8864 | 8.25 | 9.326 | 95.7953226 | 2031-10-22 | 2031-07-24 | BB+ | USD | 600MM |
| 8 | Softbank Group Corp. | …9169 | 8.5 | 9.254 | 95.3066667 | 2036-04-22 | 2036-01-23 | BB+ | USD | 500MM |
| 9 | Softbank Group Corp. | …2355 | 7.5 | 9.169 | 90.1394445 | 2035-07-10 | 2035-04-10 | BB+ | USD | 500MM |
| 10 | Softbank Group Corp. | …2272 | 7.25 | 8.979 | 92.4209091 | 2032-07-10 | 2032-04-11 | BB+ | USD | 600MM |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.