Indonesia & Frontier Asia HY

High-yield bonds from Indonesia and frontier Asia, highest yield first.

Frontier Asia high yield offers a distinct source of spread, with this screen spanning Indonesia, Laos and Pakistan at yields of roughly 8.8% to 10.7% to worst. Credit quality varies widely across the group, so issuer selection matters. The EDLLS 11.125% 2031 notes lead the list at a 10.73% yieldtoworst, paying the most in the set for a CCC+ utilities credit. That premium is the clearest compensation for credit risk in the group. Indonesian corporates provide a middle ground: NICAU 9% 2030 yields 9.47% in basic materials, while INDYIJ 8.75% 2029 energy paper yields about 9.03% with a shorter maturity. Pakistan's sovereign PKSTAN 7.375% 2031 yields 8.84%, giving a benchmark for relative value against the corporate and quasisovereign names. LAOSIN 9.625% 2032, rated B, yields 9.45%, roughly matching the Indonesian corporates while carrying sovereign risk.

#IssuerISINCouponYTWPriceMaturityNext CallRatingCURAMT OUT
1EDL-Generation Public Company…AA0511.12510.734100.8752031-08-112029-08-11CCC+USD300MM
2EDL-Generation Public Company…AA9711.12510.688101.562031-08-112029-08-11CCC+USD300MM
3Pakistan (Islamic Republic of)…AU738.8759.78443.92051-04-08High Yield 2USD800MM
4Nickel Industries Ltd.…AD1799.46598.52030-09-302027-09-30High Yield 2USD800MM
5Lao Peoples's Democratic Republic…52349.6259.453100.70546882032-04-14B-USD500MM
6Pakistan (Islamic Republic of)…19648.8759.291962051-04-08High Yield 2USD800MM
7Indika Energy Tbk…AA158.759.02999.38894742029-05-072026-12-10High Yield 1USD555MM
8Indika Energy Tbk…AA348.758.94899.5652029-05-072026-12-10High Yield 1USD555MM
9Pakistan Water & Power Development Authority…17077.58.93794.7038712031-06-042031-03-04B-USD500MM
10Pakistan (Islamic Republic of)…AT017.3758.83688.112031-04-08High Yield 2USD1.4BN

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