Just Priced — New Issues
Bonds issued within the last 90 days.
This theme gathers the ten USD bonds priced within the last 90 days, giving a fresh read on where primary markets are clearing across emergingmarket, frontier and highyield credit. Yields span roughly 10.7% to 19.2%, with Brazil's CSNABZ 11% 2030 at a 19.25% yieldtoworst standing well apart from the pack, reflecting its B rating and basic materials exposure. For a more balanced riskreward, ZENARC's 8.875% 2031 offers 13.17% with a BB rating, while ARXOFN's 11% 2031 yields 12.04% at a B rating, making both useful reference points for midtier credit. Sovereign and quasisovereign paper, including Gabon's 9.375% 2034 at 12.37% and Argentina's PDSJAR 9.55% 2035 at 10.72%, shows how new issuance is pricing country risk across frontier and emerging markets. Several deals are trading close to par, such as GIGABZ at 98.15 and EDLLS at 100.99, so investors should weigh the yield pickup against liquidity, issuer profile and how each bond compares with existing secondarymarket curves.
| # | 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.