Energy & Energy Transition
Energy, oil & gas and renewables issuers.
The energy and energy transition theme spans oil & gas, power and renewables issuers, and this screen returns ten USDdenominated bonds, most of which lack a listed rating. Headline yields are extreme and signal distress rather than carry: PDVSA's 6% 2026 notes at 35.5 show a YTW of roughly 30,197%, and PFCLN's 9.75% 2026s at 98.55 yield about 1,008%, pointing to nearterm payment or restructuring risk. Relative value is a credit call, not a simple yield pickup: LUKOIL's 2.8% 2027s at 82 (51.8%) and BRAUIJ's 2% 2028s at 47.55 (45.9%) hinge on sanctions exposure, liquidity and recovery, while PDVSA's 2037s at 16.5 (38.4%) and SCCPWR's 2032s at 13.01 (54.2%) add duration to the same distressed profile.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Petroleos de Venezuela SA | …AR68 | 6 | 30197.574 | 35.5 | 2026-11-15 | NR | USD | 4.5BN | |
| 2 | Petroleos de Venezuela SA | …4954 | 5.375 | 1253.825 | 16.13 | 2027-04-12 | NR | USD | 3BN | |
| 3 | Petrofac Ltd. | …AF87 | 9.75 | 1008.131 | 98.55 | 2026-11-15 | NR | USD | 600MM | |
| 4 | Oro Sg Pte Ltd | …1505 | 12 | 897.366 | 73.5 | 2026-12-20 | No Rating | USD | 318MM | |
| 5 | MIE Holdings Corporation | …3636 | 0 | 158.464 | 35.78 | 2028-02-29 | No Rating | USD | 272MM | |
| 6 | Canacol Energy Ltd. | …AC64 | 5.75 | 60.324 | 40.52 | 2028-11-24 | 2026-11-23 | NR | USD | 495MM |
| 7 | SCC Power PLC | …AC20 | 4 | 54.158 | 13.01 | 2032-05-17 | 2026-11-18 | High Yield 4 | USD | 217MM |
| 8 | Lukoil Capital Designated Activity Company | …1448 | 2.8 | 51.812 | 82 | 2027-04-26 | 2027-01-26 | No Rating | USD | 1.15BN |
| 9 | PT Berau Coal | …AB18 | 2 | 45.922 | 47.55 | 2028-10-15 | No Rating | USD | 800MM | |
| 10 | Petroleos de Venezuela SA | …7205 | 5.5 | 38.394 | 16.5 | 2037-04-12 | NR | USD | 1.5BN |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.