Energy & Energy Transition
Energy, oil & gas and renewables issuers.
The energy screening universe is currently dominated by distressed sovereignlinked credits and sanctionsimpacted operators offering extraordinary nominal yields that reflect severe jurisdictional and operational risk. Distressed assets from issuers like PDVSA and Lukoil trade at deep discounts with yields spanning from triple digits to astronomical extremes, such as the Lukoil 4.75% 2026 notes yielding upwards of 1,000% depending on the specific clearing mechanics and settlement route. For fixedincome relative value desks, the dispersion across offshore oil, gas, and emerging market transition plays—ranging from MIE Holdings to clean energy infrastructure developer Sonnedix (SCCPWR)—creates highly asymmetrical riskreward setups for capital seeking eventdriven total return.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Lukoil International Finance BV | …AL44 | 4.75 | 10416.183 | 62.5 | 2026-11-02 | NR | USD | 1BN | |
| 2 | Petroleos de Venezuela SA | …AR68 | 6 | 3141.625 | 41.86 | 2026-11-15 | NR | USD | 4.5BN | |
| 3 | Petroleos de Venezuela SA | …4954 | 5.375 | 1176.135 | 16.05 | 2027-04-12 | NR | USD | 3BN | |
| 4 | Petrofac Ltd. | …AF87 | 9.75 | 1008.131 | 90.07 | 2026-11-15 | NR | USD | 600MM | |
| 5 | Oro Sg Pte Ltd | …1505 | 12 | 897.366 | 67.04 | 2026-12-20 | No Rating | USD | 318MM | |
| 6 | MIE Holdings Corporation | …3636 | 0 | 158.464 | 34.77 | 2028-02-29 | No Rating | USD | 272MM | |
| 7 | Lukoil International Finance BV | …5886 | 4.75 | 108.367 | 99.92 | 2026-11-02 | NR | USD | 1BN | |
| 8 | Lukoil Capital Designated Activity Company | …1448 | 2.8 | 60.409 | 93.65 | 2027-04-26 | 2027-01-26 | No Rating | USD | 1.15BN |
| 9 | Canacol Energy Ltd. | …AC64 | 5.75 | 59.776 | 40.24 | 2028-11-24 | 2026-11-09 | NR | USD | 495MM |
| 10 | SCC Power PLC | …AC20 | 4 | 53.785 | 13.05 | 2032-05-17 | 2026-11-04 | High Yield 4 | USD | 217MM |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.