Just Priced — New Issues
Bonds issued within the last 90 days.
The Just Priced theme gathers ten USD bonds issued within the last 90 days, with yields from roughly 10.7% to 19.2%. New issues give investors a fresh look at highyield credit across several sectors and regions. Yield is the main draw: Brazil's CSNABZ (B) offers 19.248%, the most extreme level in the group, while Gabon's 9.375% 2034 notes yield 12.368%, giving sovereign exposure at a doubledigit yield. Higherquality names are also available: ZENARC (BB, Communications) yields 13.165%, and ARXOFN (B, Basic Materials) yields 12.04%, showing how the group's yields scale with rating. Lowerrated issuers such as MPW (CCC+, Financial) at 14.293% and EDLLS (CCC+, Utilities) at 10.688% illustrate the creditrisk tradeoff, as their yields reflect weaker fundamentals. Spanning basic materials, financials, communications, government and utilities, the cohort allows direct relativevalue comparison within a single newissue vintage.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | CSN Inova Ventures | …AA54 | 11 | 19.248 | 78.53 | 2030-08-12 | B- | USD | 700MM | |
| 2 | MPT Operating Partnership LP / MPT Finance Corporation | …AB77 | 9.25 | 14.293 | 81.7617177 | 2032-02-15 | 2028-08-10 | CCC+ | USD | 2.4BN |
| 3 | Zenith Arc LLC | …AA70 | 8.875 | 13.165 | 85 | 2031-08-31 | 2028-08-31 | BB | USD | 2.25BN |
| 4 | Giga Mais Fibra Luxembourg S.a r.l. | …AA01 | 11.95 | 12.422 | 98.15 | 2032-02-25 | 2028-02-15 | No Rating | USD | 350MM |
| 5 | Gabonese (Republic of) | …2253 | 9.375 | 12.368 | 85.1026191 | 2034-10-21 | No Rating | USD | 580MM | |
| 6 | ARXO FINANCE PLC | …9844 | 11 | 12.04 | 96.215 | 2031-09-24 | 2029-03-24 | B | USD | 300MM |
| 7 | Banco Multiva SA | …AC86 | 11 | 10.761 | 100.8355 | 2176-08-10 | 2031-08-10 | High Yield 2 | USD | 300MM |
| 8 | San Juan (Province Of) | …AC23 | 9.55 | 10.724 | 93.355 | 2035-10-01 | 2035-08-01 | High Yield 2 | USD | 600MM |
| 9 | National Power Company Ukrenergo Private Joint Stock Company | …4210 | 8.5 | 10.719 | 91.5 | 2031-12-01 | No Rating | USD | 395MM | |
| 10 | EDL-Generation Public Company | …AA05 | 11.125 | 10.688 | 100.9856625 | 2031-08-11 | 2029-08-11 | CCC+ | USD | 300MM |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.