Indonesia & Frontier Asia HY

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

Frontier Asia high yield offers a clear pickup over investmentgrade regional credit, with this tenbond screen spanning yields from roughly 8.9% to 11.3% across Indonesia, Laos, and Pakistan. The top of the list is led by the Laos utility EDLLS 11.125% 2031, yielding 11.34%, while Pakistan's PKSTAN 8.875% 2051 offers 10.04% and the Laos sovereign LAOSIN 9.625% 2032 yields 9.60% at a B rating. Indonesian corporates provide a shorterdated alternative, with INDYIJ 8.75% 2029 yielding 9.09% and NICAU 9% 2030 at 9.31%, both priced close to par. Against the sovereign and CCC+ tail of the screen, these names offer competitive relative value with less duration exposure.

#IssuerISINCouponYTWPriceMaturityNext CallRatingCURAMT OUT
1EDL-Generation Public Company…AA0511.12511.33599.20833342031-08-112029-08-11CCC+USD300MM
2EDL-Generation Public Company…AA9711.12510.652101.06488932031-08-112029-08-11CCC+USD300MM
3Pakistan (Islamic Republic of)…AU738.87510.04289.42764392051-04-08High Yield 2USD800MM
4Lao Peoples's Democratic Republic…52349.6259.604100.07340912032-04-14B-USD500MM
5Pakistan (Islamic Republic of)…19648.8759.51942051-04-08High Yield 2USD800MM
6Nickel Industries Ltd.…AD1799.307992030-09-302027-09-30High Yield 2USD800MM
7Indika Energy Tbk…AA158.759.09399.252029-05-072026-12-12High Yield 1USD555MM
8Pakistan Water & Power Development Authority…17077.58.87994.922031-06-042031-03-04B-USD500MM
9Pakistan (Islamic Republic of)…62297.98.87293.72036-09-10BUSD1.25BN
10Indika Energy Tbk…AA348.758.86399.752029-05-072026-12-12High Yield 1USD555MM

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