Asia Tech & New Economy

Asian technology and communications issuers.

The Asia Tech & New Economy theme covers technology and communications issuers across the region, and this screen is led by Japanese paper, with SoftBank's USD curve yielding roughly 9% to 10.6% across maturities from 2031 to 2065. SoftBank's BB+ rated 9.75% 2034s yield 10.59% and the 9.25% 2032s yield 10.18%, offering the most carry on the list, while the BB+ rated 6.875% 2031s at 9.31% provide a shorterdated alternative for investors seeking tighter duration. Relative value is notable: the B+ rated 2061s (9.61%) and 2065s (9.42%) yield less than the BB+ rated 2034s, so the longer end offers little extra compensation for added duration and lower credit quality. HKT's 2030 zerocoupon shows a 22.81% YTW that looks anomalous against its 101.25 price and should be verified before drawing any conclusions.

#IssuerISINCouponYTWPriceMaturityNext CallRatingCURAMT OUT
1HKT Capital No.1 Ltd.…4082022.814101.252030-01-15BBBUSD300MM
2Softbank Group Corp.…AC709.7510.58995.752034-04-012034-01-01BB+USD4.5BN
3Softbank Group Corp.…AB979.2510.18296.18752032-04-012032-01-01BB+USD4.5BN
4Softbank Group Corp.…88648.259.73494.28403872031-10-222031-07-24BB+USD600MM
5Softbank Group Corp.…66766.8759.68996.36190482167-07-192027-07-19B+USD1.75BN
6Softbank Group Corp.…70057.6259.6188.74377832061-04-292031-01-29B+USD900MM
7Softbank Group Corp.…74278.259.42487.88161772065-10-292035-07-29B+USD1.1BN
8Softbank Group Corp.…22727.259.35290.9012032-07-102032-04-11BB+USD600MM
9Softbank Group Corp.…41126.8759.30891.752031-01-102030-10-12BB+USD600MM
10Softbank Group Corp.…23557.59.15690.22552035-07-102035-04-10BB+USD500MM

Results are limited to USD bonds with an amount outstanding of at least USD 200MM.