Asia Tech & New Economy
Asian technology and communications issuers.
Asian technology and communications issuers form a distinct corner of USD credit. This screen of ten bonds spans yields from roughly 9% to above 22%, with ratings running from BBB to B+. SoftBank Group dominates the list. Its BB+rated 9.75% April 2034 notes yield 10.42%, and the 8.25% October 2031 notes yield 9.73%, a meaningful pickup for investors seeking shorterdated exposure to a large, diversified technology and telecom group. The HKTGHD zerocoupon bond due January 2030 screens at a 22.81% yieldtoworst on a 101.31 price. That level is an outlier against the rest of the theme, so pricing and terms should be verified before any allocation decision. For a more conventional reference point, SoftBank's 7.25% July 2032 notes yield 9.39% at BB+, anchoring the theme's relative value against its higheryielding names.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | HKT Capital No.1 Ltd. | …4082 | 0 | 22.814 | 101.31 | 2030-01-15 | BBB | USD | 300MM | |
| 2 | Softbank Group Corp. | …AC70 | 9.75 | 10.419 | 96.5892857 | 2034-04-01 | 2034-01-01 | BB+ | USD | 4.5BN |
| 3 | Softbank Group Corp. | …AB97 | 9.25 | 10.073 | 96.625 | 2032-04-01 | 2032-01-01 | BB+ | USD | 4.5BN |
| 4 | Softbank Group Corp. | …7427 | 8.25 | 9.855 | 87.87625 | 2065-10-29 | 2035-07-29 | B+ | USD | 1.1BN |
| 5 | Softbank Group Corp. | …8864 | 8.25 | 9.73 | 94.2896154 | 2031-10-22 | 2031-07-24 | BB+ | USD | 600MM |
| 6 | Softbank Group Corp. | …6676 | 6.875 | 9.669 | 96.5785715 | 2167-07-19 | 2027-07-19 | B+ | USD | 1.75BN |
| 7 | Softbank Group Corp. | …7005 | 7.625 | 9.537 | 89.430375 | 2061-04-29 | 2031-01-29 | B+ | USD | 900MM |
| 8 | Softbank Group Corp. | …2272 | 7.25 | 9.385 | 90.7716667 | 2032-07-10 | 2032-04-11 | BB+ | USD | 600MM |
| 9 | Softbank Group Corp. | …2355 | 7.5 | 9.191 | 90.0364286 | 2035-07-10 | 2035-04-10 | BB+ | USD | 500MM |
| 10 | Softbank Group Corp. | …9169 | 8.5 | 9.155 | 95.9075 | 2036-04-22 | 2036-01-23 | BB+ | USD | 500MM |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.