PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Long-Term Investments 128.3% | |||||
| Bank Loans 12.2% | |||||
| Auto Manufacturers 0.4% | |||||
| Navistar, Inc., Tranche B Term Loan, 1 Month LIBOR + 3.500% | 3.660 %(c) | 11/06/24 | 2,210 | $2,149,544 | |
| Chemicals 1.2% | |||||
| Alpha Bidco, Inc. (United Kingdom), Initial Term B-1 Loan, 3 Month LIBOR + 3.000% | 4.000(c) | 01/31/24 | 489 | 481,689 | |
| Hexion, Inc., Senior Secured Term B Loan, 3 Month LIBOR + 3.500% | 3.800(c) | 07/01/26 | 1,492 | 1,462,613 | |
| Solenis International LP, | |||||
| First Lien Initial Dollar Term Loan, 3 Month LIBOR + 4.000% | 4.309(c) | 06/26/25 | 3,672 | 3,602,868 | |
| Second Lien Initial Term Loan, 3 Month LIBOR + 8.500% | 8.756(c) | 06/26/26 | 1,000 | 897,105 | |
| 6,444,275 | |||||
| Computers 1.9% | |||||
| Everi Payments, Inc., Term Loan, 3 Month LIBOR + 10.500%^ | 11.500(c) | 05/09/24 | 125 | 127,500 | |
| McAfee LLC, | |||||
| Second Lien Initial Loan, 1 Month LIBOR + 8.500% | 9.500(c) | 09/29/25 | 3,619 | 3,654,937 | |
| Term B USD Loan, 1 Month LIBOR + 3.750% | 3.906(c) | 09/30/24 | 4,914 | 4,864,586 | |
| Surf Holdings LLC, Senior Secured First Lien Dollar Tranche Term Loan, 3 Month LIBOR + 3.500% | 3.827(c) | 03/05/27 | 1,500 | 1,463,750 | |
| 10,110,773 | |||||
| Electric 0.4% | |||||
| Heritage Power LLC, Term Loan B, 3 Month LIBOR + 6.000% | 7.000(c) | 07/30/26 | 2,134 | 2,016,512 | |
| Electronics 0.1% | |||||
| Tiger Merger Sub Co., Non-FILO Term Loan, 1 Month LIBOR + 3.500% | 3.656(c) | 06/30/25 | 750 | 750,938 | |
1
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Bank Loans (Continued) | |||||
| Engineering & Construction 0.2% | |||||
| Landry’s Finance Acquisition Co., | |||||
| 2020 Initial Term Loan, 3 Month LIBOR + 12.000%^ | 13.000 %(c) | 10/04/23 | 740 | $850,539 | |
| 2020 Initial Term Loan, 3 Month LIBOR + 12.000%^ | 12.183(c) | 10/04/23 | 60 | 69,461 | |
| 920,000 | |||||
| Entertainment 0.6% | |||||
| Playtika Holding Corp., Term B Loan, 3 Month LIBOR + 6.000% | 7.072(c) | 12/10/24 | 2,242 | 2,258,810 | |
| Scientific Games International, Inc., Initial Term B-5 Loan, 1 - 3 Month LIBOR + 2.750% | 3.612(c) | 08/14/24 | 297 | 276,970 | |
| Twin River Worldwide Holdings, Inc., Term B-1 Facility Loan, 3 Month LIBOR + 8.000% | 9.000(c) | 05/11/26 | 525 | 557,156 | |
| 3,092,936 | |||||
| Insurance 0.5% | |||||
| Asurion LLC, | |||||
| Replacement B-6 Term Loan, 1 Month LIBOR + 3.000% | 3.156(c) | 11/03/23 | 368 | 361,285 | |
| Second Lien Replacement B-2 Term Loan, 1 Month LIBOR + 6.500% | 6.656(c) | 08/04/25 | 2,560 | 2,563,688 | |
| 2,924,973 | |||||
| Media 0.3% | |||||
| iHeartCommunications, Inc., | |||||
| New Term Loan, 1 Month LIBOR + 3.000% | 3.156(c) | 05/01/26 | 1,294 | 1,222,627 | |
| Second Amendment Incremental Term Loan, 3 Month LIBOR + 4.000% | 4.750(c) | 05/01/26 | 650 | 627,791 | |
| 1,850,418 | |||||
| Oil & Gas 0.8% | |||||
| Chesapeake Energy Corp., Class A Loan | 0.000 | 06/24/24(d) | 4,850 | 3,135,826 | |
| Citgo Holding, Inc., Term Loan, 3 Month LIBOR + 7.000% | 8.000(c) | 08/01/23 | 570 | 541,083 | |
| Citgo Petroleum Corp., 2019 Incremental Term B Loan, 3 Month LIBOR + 5.000% | 6.000(c) | 03/28/24 | 788 | 752,247 | |
| 4,429,156 | |||||
2
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Bank Loans (Continued) | |||||
| Pharmaceuticals 0.3% | |||||
| Mallinckrodt International Finance SA, | |||||
| 2017 Term B Loan, 3 Month LIBOR + 2.750% | 3.500 %(c) | 09/24/24 | 712 | $616,676 | |
| 2018 Incremental Term Loan, 6 Month LIBOR + 3.000% | 3.750(c) | 02/24/25 | 182 | 157,847 | |
| Milano Acquisition Corp., Term Loan | —(p) | 08/31/27 | 850 | 842,563 | |
| 1,617,086 | |||||
| Retail 0.3% | |||||
| CEC Entertainment, Inc., Term B Loan | 0.000 | 08/31/26(d) | 560 | 348,405 | |
| Sally Holdings LLC, Term B-2 Loan^ | 4.500 | 07/05/24 | 1,125 | 1,110,938 | |
| 1,459,343 | |||||
| Software 2.6% | |||||
| CHAMPIONX Holding, Inc., Dollar Term Loan (Second Lien), 3 Month LIBOR + 7.250% | 8.250(c) | 06/13/25 | 1,400 | 1,301,125 | |
| Dun & Bradstreet Corp. (The), Term Loan B, 1 Month LIBOR + 3.750% | 3.920(c) | 02/06/26 | 2,394 | 2,386,219 | |
| Finastra USA, Inc., First Lien Dollar Term Loan, 3 Month LIBOR + 3.500% | 4.500(c) | 06/13/24 | 3,814 | 3,589,188 | |
| Informatica LLC, Second Lien Initial Loan | 7.125 | 02/25/25 | 675 | 682,594 | |
| TIBCO Software, Inc., | |||||
| Second Lien Term Loan, 1 Month LIBOR + 7.250% | 7.410(c) | 03/03/28 | 3,025 | 2,924,168 | |
| Term Loan B-3, 1 Month LIBOR + 3.750% | 3.910(c) | 06/30/26 | 2,993 | 2,889,633 | |
| 13,772,927 | |||||
| Telecommunications 2.6% | |||||
| Digicel International Finance Ltd. (Saint Lucia), First Lien Initial Term B Loan, 3 Month LIBOR + 3.250% | 3.800(c) | 05/27/24 | 3,326 | 2,893,936 | |
| Intelsat Jackson Holdings SA (Luxembourg), | |||||
| SuperPriority Secured DIP Term Loan, 3 Month LIBOR + 5.500% | 6.500(c) | 07/13/21 | 344 | 348,946 | |
| Tranche B-5 Term Loan | 8.625 | 01/02/24 | 4,795 | 4,844,950 | |
| West Corp., Initial Term B Loan, 3 Month LIBOR + 4.000% | 5.000(c) | 10/10/24 | 3,475 | 3,093,808 | |
3
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Bank Loans (Continued) | |||||
| Telecommunications (cont’d.) | |||||
| Windstream Services LLC, Term Loan | — %(p) | 08/11/27 | 900 | $870,750 | |
| Xplornet Communications, Inc. (Canada), Initial Term Loan, 1 Month LIBOR + 4.750% | 4.906(c) | 06/10/27 | 1,775 | 1,749,115 | |
| 13,801,505 | |||||
| Total Bank Loans (cost $67,842,425) | 65,340,386 | ||||
| Corporate Bonds 115.6% | |||||
| Advertising 1.2% | |||||
| Clear Channel International BV, Sr. Sec’d. Notes, 144A | 6.625 | 08/01/25 | 200 | 207,265 | |
| National CineMedia LLC, | |||||
| Sr. Sec’d. Notes, 144A(aa) | 5.875 | 04/15/28 | 1,075 | 866,444 | |
| Sr. Unsec’d. Notes(aa) | 5.750 | 08/15/26 | 1,175 | 763,762 | |
| Outfront Media Capital LLC/Outfront Media Capital Corp., | |||||
| Gtd. Notes, 144A(aa) | 5.000 | 08/15/27 | 1,620 | 1,591,270 | |
| Gtd. Notes, 144A | 6.250 | 06/15/25 | 625 | 647,667 | |
| Terrier Media Buyer, Inc., Gtd. Notes, 144A(aa) | 8.875 | 12/15/27 | 2,355 | 2,439,593 | |
| 6,516,001 | |||||
| Aerospace & Defense 3.7% | |||||
| Boeing Co. (The), | |||||
| Sr. Unsec’d. Notes(aa) | 5.150 | 05/01/30 | 2,450 | 2,742,442 | |
| Sr. Unsec’d. Notes | 5.805 | 05/01/50 | 3,150 | 3,763,528 | |
| Bombardier, Inc. (Canada), | |||||
| Sr. Unsec’d. Notes, 144A(aa) | 7.500 | 12/01/24 | 1,975 | 1,495,443 | |
| Sr. Unsec’d. Notes, 144A(aa) | 7.500 | 03/15/25 | 550 | 410,472 | |
| Sr. Unsec’d. Notes, 144A(aa) | 7.875 | 04/15/27 | 1,950 | 1,415,504 | |
| Sr. Unsec’d. Notes, 144A(aa) | 8.750 | 12/01/21 | 6,900 | 6,630,290 | |
| Howmet Aerospace, Inc., Sr. Unsec’d. Notes | 6.875 | 05/01/25 | 500 | 568,119 | |
4
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Corporate Bonds (Continued) | |||||
| Aerospace & Defense (cont’d.) | |||||
| Spirit AeroSystems, Inc., Sec’d. Notes, 144A | 7.500 % | 04/15/25 | 975 | $985,044 | |
| SSL Robotics LLC, Sr. Sec’d. Notes, 144A(aa) | 9.750 | 12/31/23 | 1,350 | 1,525,220 | |
| 19,536,062 | |||||
| Agriculture 0.6% | |||||
| Vector Group Ltd., | |||||
| Gtd. Notes, 144A | 10.500 | 11/01/26 | 525 | 545,347 | |
| Sr. Sec’d. Notes, 144A(aa) | 6.125 | 02/01/25 | 2,650 | 2,688,325 | |
| 3,233,672 | |||||
| Apparel 0.4% | |||||
| William Carter Co. (The), Gtd. Notes, 144A(aa) | 5.500 | 05/15/25 | 1,200 | 1,278,508 | |
| Wolverine World Wide, Inc., | |||||
| Gtd. Notes, 144A | 5.000 | 09/01/26 | 450 | 450,782 | |
| Gtd. Notes, 144A | 6.375 | 05/15/25 | 550 | 585,585 | |
| 2,314,875 | |||||
| Auto Manufacturers 2.0% | |||||
| Allison Transmission, Inc., Sr. Unsec’d. Notes, 144A | 5.875 | 06/01/29 | 419 | 460,225 | |
| Ford Motor Co., | |||||
| Sr. Unsec’d. Notes | 4.750 | 01/15/43 | 3,675 | 3,392,496 | |
| Sr. Unsec’d. Notes | 5.291 | 12/08/46 | 3,300 | 3,126,279 | |
| Sr. Unsec’d. Notes | 9.000 | 04/22/25 | 950 | 1,111,398 | |
| Sr. Unsec’d. Notes | 9.625 | 04/22/30 | 565 | 740,081 | |
| Ford Motor Credit Co. LLC, Sr. Unsec’d. Notes | 5.584 | 03/18/24 | 310 | 330,614 | |
| Navistar International Corp., | |||||
| Gtd. Notes, 144A(aa) | 6.625 | 11/01/25 | 795 | 809,764 | |
| Sr. Sec’d. Notes, 144A | 9.500 | 05/01/25 | 775 | 882,799 | |
| 10,853,656 | |||||
| Auto Parts & Equipment 1.9% | |||||
| Adient Global Holdings Ltd., Gtd. Notes, 144A | 4.875 | 08/15/26 | 2,725 | 2,552,545 | |
5
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Corporate Bonds (Continued) | |||||
| Auto Parts & Equipment (cont’d.) | |||||
| Adient US LLC, Sr. Sec’d. Notes, 144A | 9.000 % | 04/15/25 | 275 | $307,644 | |
| American Axle & Manufacturing, Inc., | |||||
| Gtd. Notes(aa) | 6.250 | 04/01/25 | 600 | 618,682 | |
| Gtd. Notes(aa) | 6.250 | 03/15/26 | 686 | 701,052 | |
| Gtd. Notes(aa) | 6.500 | 04/01/27 | 1,000 | 1,029,045 | |
| Cooper-Standard Automotive, Inc., Gtd. Notes, 144A(aa) | 5.625 | 11/15/26 | 1,090 | 609,549 | |
| Dana Financing Luxembourg Sarl, | |||||
| Gtd. Notes, 144A | 5.750 | 04/15/25 | 500 | 519,606 | |
| Gtd. Notes, 144A(aa) | 6.500 | 06/01/26 | 2,665 | 2,808,570 | |
| Dana, Inc., | |||||
| Sr. Unsec’d. Notes | 5.375 | 11/15/27 | 200 | 211,949 | |
| Sr. Unsec’d. Notes | 5.625 | 06/15/28 | 195 | 206,127 | |
| Titan International, Inc., Sr. Sec’d. Notes | 6.500 | 11/30/23 | 1,000 | 747,190 | |
| 10,311,959 | |||||
| Banks 1.0% | |||||
| CIT Group, Inc., | |||||
| Sr. Unsec’d. Notes | 5.000 | 08/01/23 | 375 | 397,642 | |
| Sub. Notes(aa) | 6.125 | 03/09/28 | 1,500 | 1,767,280 | |
| Popular, Inc. (Puerto Rico), Sr. Unsec’d. Notes | 6.125 | 09/14/23 | 2,875 | 3,051,183 | |
| 5,216,105 | |||||
| Building Materials 3.0% | |||||
| Cornerstone Building Brands, Inc., Gtd. Notes, 144A(aa) | 8.000 | 04/15/26 | 1,625 | 1,721,718 | |
| Forterra Finance LLC/FRTA Finance Corp., Sr. Sec’d. Notes, 144A | 6.500 | 07/15/25 | 275 | 292,381 | |
| Griffon Corp., Gtd. Notes(aa) | 5.750 | 03/01/28 | 1,255 | 1,332,764 | |
| JELD-WEN, Inc., | |||||
| Gtd. Notes, 144A | 4.625 | 12/15/25 | 701 | 712,595 | |
| Sr. Sec’d. Notes, 144A | 6.250 | 05/15/25 | 300 | 323,039 | |
| Masonite International Corp., | |||||
| Gtd. Notes, 144A | 5.375 | 02/01/28 | 255 | 273,261 | |
| Gtd. Notes, 144A(aa) | 5.750 | 09/15/26 | 725 | 762,484 | |
6
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Corporate Bonds (Continued) | |||||
| Building Materials (cont’d.) | |||||
| Patrick Industries, Inc., Gtd. Notes, 144A(aa) | 7.500 % | 10/15/27 | 975 | $1,076,462 | |
| Standard Industries, Inc., | |||||
| Sr. Unsec’d. Notes, 144A | 3.375 | 01/15/31 | 625 | 622,481 | |
| Sr. Unsec’d. Notes, 144A | 4.375 | 07/15/30 | 875 | 926,683 | |
| Sr. Unsec’d. Notes, 144A(aa) | 4.750 | 01/15/28 | 1,975 | 2,086,789 | |
| Sr. Unsec’d. Notes, 144A | 5.000 | 02/15/27 | 370 | 387,469 | |
| Summit Materials LLC/Summit Materials Finance Corp., | |||||
| Gtd. Notes, 144A | 5.250 | 01/15/29 | 230 | 240,880 | |
| Gtd. Notes, 144A(aa) | 6.500 | 03/15/27 | 1,400 | 1,509,160 | |
| U.S. Concrete, Inc., Gtd. Notes(aa) | 6.375 | 06/01/24 | 3,900 | 4,025,024 | |
| 16,293,190 | |||||
| Chemicals 5.9% | |||||
| Ashland LLC, Gtd. Notes | 6.875 | 05/15/43 | 2,125 | 2,653,656 | |
| Atotech Alpha 2 BV (Germany), Sr. Unsec’d. Notes, 144A, Cash coupon 8.750% or PIK 9.500%(aa) | 8.750 | 06/01/23 | 825 | 836,048 | |
| Atotech Alpha 3 BV/Alpha US Bidco, Inc. (United Kingdom), Gtd. Notes, 144A | 6.250 | 02/01/25 | 600 | 614,599 | |
| Avient Corp., Sr. Unsec’d. Notes, 144A | 5.750 | 05/15/25 | 375 | 398,223 | |
| Chemours Co. (The), | |||||
| Gtd. Notes(aa) | 5.375 | 05/15/27 | 1,485 | 1,502,126 | |
| Gtd. Notes(aa) | 6.625 | 05/15/23 | 4,430 | 4,454,983 | |
| Gtd. Notes(aa) | 7.000 | 05/15/25 | 1,500 | 1,542,515 | |
| Cornerstone Chemical Co., Sr. Sec’d. Notes, 144A(aa) | 6.750 | 08/15/24 | 2,255 | 2,105,581 | |
| Hexion, Inc., Gtd. Notes, 144A(aa) | 7.875 | 07/15/27 | 2,200 | 2,204,125 | |
| Minerals Technologies, Inc., Gtd. Notes, 144A | 5.000 | 07/01/28 | 435 | 452,017 | |
| Nouryon Holding BV (Netherlands), Sr. Unsec’d. Notes, 144A | 8.000 | 10/01/26 | 1,755 | 1,884,508 | |
| NOVA Chemicals Corp. (Canada), | |||||
| Sr. Unsec’d. Notes, 144A(aa) | 4.875 | 06/01/24 | 1,100 | 1,100,818 | |
| Sr. Unsec’d. Notes, 144A(aa) | 5.250 | 06/01/27 | 445 | 430,406 | |
7
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Corporate Bonds (Continued) | |||||
| Chemicals (cont’d.) | |||||
| Olin Corp., Sr. Unsec’d. Notes, 144A | 9.500 % | 06/01/25 | 825 | $962,551 | |
| Rain CII Carbon LLC/CII Carbon Corp., Sec’d. Notes, 144A(aa) | 7.250 | 04/01/25 | 1,400 | 1,393,138 | |
| TPC Group, Inc., Sr. Sec’d. Notes, 144A(aa) | 10.500 | 08/01/24 | 2,050 | 1,741,042 | |
| Tronox Finance PLC, Gtd. Notes, 144A(aa) | 5.750 | 10/01/25 | 940 | 953,585 | |
| Tronox, Inc., | |||||
| Gtd. Notes, 144A(aa) | 6.500 | 04/15/26 | 2,425 | 2,507,517 | |
| Sr. Sec’d. Notes, 144A | 6.500 | 05/01/25 | 725 | 782,235 | |
| Valvoline, Inc., | |||||
| Gtd. Notes | 4.375 | 08/15/25 | 370 | 383,684 | |
| Gtd. Notes, 144A | 4.250 | 02/15/30 | 460 | 488,091 | |
| Venator Finance Sarl/Venator Materials LLC, | |||||
| Gtd. Notes, 144A(aa) | 5.750 | 07/15/25 | 1,225 | 1,021,654 | |
| Sr. Sec’d. Notes, 144A | 9.500 | 07/01/25 | 625 | 657,643 | |
| WR Grace & Co-Conn, | |||||
| Gtd. Notes, 144A | 4.875 | 06/15/27 | 400 | 419,231 | |
| Gtd. Notes, 144A | 5.625 | 10/01/24 | 100 | 107,345 | |
| 31,597,321 | |||||
| Commercial Services 6.0% | |||||
| Allied Universal Holdco LLC/Allied Universal Finance Corp., | |||||
| Sr. Sec’d. Notes, 144A | 6.625 | 07/15/26 | 430 | 462,340 | |
| Sr. Unsec’d. Notes, 144A(aa) | 9.750 | 07/15/27 | 2,400 | 2,645,708 | |
| AMN Healthcare, Inc., Gtd. Notes, 144A | 4.625 | 10/01/27 | 400 | 417,476 | |
| Brink’s Co. (The), Gtd. Notes, 144A | 5.500 | 07/15/25 | 850 | 894,316 | |
| Gartner, Inc., Gtd. Notes, 144A | 4.500 | 07/01/28 | 285 | 297,659 | |
| Laureate Education, Inc., Gtd. Notes, 144A(aa) | 8.250 | 05/01/25 | 4,500 | 4,782,771 | |
| Nielsen Co. Luxembourg Sarl (The), Gtd. Notes, 144A | 5.500 | 10/01/21 | 459 | 460,521 | |
| Refinitiv US Holdings, Inc., | |||||
| Gtd. Notes, 144A(aa) | 8.250 | 11/15/26 | 6,767 | 7,492,978 | |
| Sr. Sec’d. Notes, 144A(aa) | 6.250 | 05/15/26 | 500 | 537,329 | |
8
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Corporate Bonds (Continued) | |||||
| Commercial Services (cont’d.) | |||||
| Sabre GLBL, Inc., Sr. Sec’d. Notes, 144A | 7.375 % | 09/01/25 | 550 | $576,483 | |
| Service Corp. International, Sr. Unsec’d. Notes | 3.375 | 08/15/30 | 335 | 341,447 | |
| United Rentals North America, Inc., | |||||
| Gtd. Notes(aa) | 4.000 | 07/15/30 | 675 | 705,558 | |
| Gtd. Notes(aa) | 4.875 | 01/15/28 | 7,025 | 7,467,224 | |
| Gtd. Notes(aa) | 5.250 | 01/15/30 | 1,425 | 1,583,481 | |
| Verscend Escrow Corp., Sr. Unsec’d. Notes, 144A(aa) | 9.750 | 08/15/26 | 3,085 | 3,343,581 | |
| 32,008,872 | |||||
| Computers 2.3% | |||||
| Banff Merger Sub, Inc., Sr. Unsec’d. Notes, 144A(aa) | 9.750 | 09/01/26 | 4,050 | 4,315,604 | |
| Dell International LLC/EMC Corp., Gtd. Notes, 144A(aa) | 5.875 | 06/15/21 | 1,942 | 1,944,472 | |
| Everi Payments, Inc., Gtd. Notes, 144A(aa) | 7.500 | 12/15/25 | 2,002 | 1,975,276 | |
| NCR Corp., | |||||
| Gtd. Notes, 144A | 5.000 | 10/01/28 | 550 | 554,580 | |
| Gtd. Notes, 144A | 5.250 | 10/01/30 | 350 | 354,549 | |
| Gtd. Notes, 144A(aa) | 5.750 | 09/01/27 | 1,000 | 1,053,636 | |
| Gtd. Notes, 144A | 8.125 | 04/15/25 | 350 | 390,795 | |
| Tempo Acquisition LLC/Tempo Acquisition Finance Corp., | |||||
| Sr. Sec’d. Notes, 144A | 5.750 | 06/01/25 | 375 | 393,221 | |
| Sr. Unsec’d. Notes, 144A(aa) | 6.750 | 06/01/25 | 1,325 | 1,352,359 | |
| 12,334,492 | |||||
| Distribution/Wholesale 0.4% | |||||
| Core & Main Holdings LP, Sr. Unsec’d. Notes, 144A, Cash coupon 8.625% or PIK 9.375%(aa) | 8.625 | 09/15/24 | 1,400 | 1,433,315 | |
| H&E Equipment Services, Inc., Gtd. Notes(aa) | 5.625 | 09/01/25 | 689 | 715,897 | |
| Performance Food Group, Inc., Gtd. Notes, 144A | 5.500 | 10/15/27 | 125 | 130,313 | |
| 2,279,525 | |||||
9
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Corporate Bonds (Continued) | |||||
| Diversified Financial Services 3.6% | |||||
| Alliance Data Systems Corp., Gtd. Notes, 144A | 4.750 % | 12/15/24 | 1,075 | $1,030,365 | |
| Avolon Holdings Funding Ltd. (Ireland), | |||||
| Gtd. Notes, 144A | 5.125 | 10/01/23 | 2,125 | 2,048,653 | |
| Gtd. Notes, 144A | 5.500 | 01/15/23 | 1,875 | 1,829,990 | |
| Fairstone Financial, Inc. (Canada), Sr. Unsec’d. Notes, 144A(aa) | 7.875 | 07/15/24 | 720 | 746,828 | |
| LPL Holdings, Inc., Gtd. Notes, 144A(aa) | 5.750 | 09/15/25 | 1,280 | 1,331,201 | |
| Nationstar Mortgage Holdings, Inc., | |||||
| Gtd. Notes, 144A(aa) | 5.500 | 08/15/28 | 2,645 | 2,786,522 | |
| Gtd. Notes, 144A(aa) | 6.000 | 01/15/27 | 1,350 | 1,431,198 | |
| Navient Corp., | |||||
| Sr. Unsec’d. Notes | 5.875 | 03/25/21 | 150 | 152,449 | |
| Sr. Unsec’d. Notes | 6.625 | 07/26/21 | 150 | 153,747 | |
| OneMain Finance Corp., | |||||
| Gtd. Notes | 6.625 | 01/15/28 | 500 | 571,328 | |
| Gtd. Notes(aa) | 6.875 | 03/15/25 | 350 | 394,719 | |
| Gtd. Notes(aa) | 7.125 | 03/15/26 | 5,898 | 6,764,009 | |
| Park Aerospace Holdings Ltd. (Ireland), Gtd. Notes, 144A | 5.500 | 02/15/24 | 150 | 147,538 | |
| 19,388,547 | |||||
| Electric 4.4% | |||||
| Calpine Corp., | |||||
| Sr. Unsec’d. Notes, 144A(aa) | 4.625 | 02/01/29 | 1,100 | 1,126,645 | |
| Sr. Unsec’d. Notes, 144A | 5.000 | 02/01/31 | 1,650 | 1,724,383 | |
| Sr. Unsec’d. Notes, 144A(aa) | 5.125 | 03/15/28 | 5,950 | 6,289,702 | |
| Keystone Power Pass-Through Holders LLC/Conemaugh Power Pass-Through Holders, | |||||
| Gtd. Notes, 144A | 9.000 | 12/01/23 | 86 | 81,428 | |
| Sub. Notes, 144A, Cash coupon 13.000% or PIK 13.000% | 13.000 | 06/01/24 | 296 | 265,006 | |
| NRG Energy, Inc., | |||||
| Gtd. Notes(aa) | 5.750 | 01/15/28 | 2,150 | 2,342,042 | |
| Gtd. Notes, 144A | 5.250 | 06/15/29 | 400 | 436,543 | |
| PG&E Corp., | |||||
| Sr. Sec’d. Notes | 5.000 | 07/01/28 | 825 | 822,952 | |
| Sr. Sec’d. Notes | 5.250 | 07/01/30 | 2,135 | 2,127,919 | |
10
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Corporate Bonds (Continued) | |||||
| Electric (cont’d.) | |||||
| Vistra Operations Co. LLC, | |||||
| Gtd. Notes, 144A(aa) | 5.000 % | 07/31/27 | 1,100 | $1,165,643 | |
| Gtd. Notes, 144A(aa) | 5.625 | 02/15/27 | 6,700 | 7,112,568 | |
| 23,494,831 | |||||
| Electrical Components & Equipment 0.3% | |||||
| WESCO Distribution, Inc., | |||||
| Gtd. Notes, 144A | 7.125 | 06/15/25 | 650 | 714,316 | |
| Gtd. Notes, 144A | 7.250 | 06/15/28 | 800 | 891,527 | |
| 1,605,843 | |||||
| Electronics 0.0% | |||||
| Sensata Technologies, Inc., Gtd. Notes, 144A | 3.750 | 02/15/31 | 260 | 260,623 | |
| Energy-Alternate Sources 0.1% | |||||
| Enviva Partners LP/Enviva Partners Finance Corp., Gtd. Notes, 144A(aa) | 6.500 | 01/15/26 | 600 | 639,717 | |
| Engineering & Construction 1.1% | |||||
| AECOM, | |||||
| Gtd. Notes | 5.125 | 03/15/27 | 1,940 | 2,133,299 | |
| Gtd. Notes | 5.875 | 10/15/24 | 675 | 751,335 | |
| PowerTeam Services LLC, Sr. Sec’d. Notes, 144A | 9.033 | 12/04/25 | 700 | 747,660 | |
| TopBuild Corp., Gtd. Notes, 144A(aa) | 5.625 | 05/01/26 | 1,931 | 2,015,083 | |
| 5,647,377 | |||||
| Entertainment 5.9% | |||||
| AMC Entertainment Holdings, Inc., | |||||
| Sec’d. Notes, 144A, Cash coupon 10.000% / PIK 12.000% or Cash coupon 5.000% and PIK 6.000% | 12.000 | 06/15/26 | 3,942 | 1,466,220 | |
| Sr. Sec’d. Notes, 144A | 10.500 | 04/24/26 | 465 | 397,628 | |
| Caesars Resort Collection LLC/CRC Finco, Inc., Gtd. Notes, 144A(aa) | 5.250 | 10/15/25 | 4,725 | 4,522,401 | |
| CCM Merger, Inc., Sr. Unsec’d. Notes, 144A(aa) | 6.000 | 03/15/22 | 4,000 | 3,967,953 | |
11
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Corporate Bonds (Continued) | |||||
| Entertainment (cont’d.) | |||||
| Colt Merger Sub, Inc., | |||||
| Sr. Sec’d. Notes, 144A | 6.250 % | 07/01/25 | 660 | $698,808 | |
| Sr. Unsec’d. Notes, 144A | 8.125 | 07/01/27 | 695 | 736,422 | |
| Golden Entertainment, Inc., Sr. Unsec’d. Notes, 144A(aa) | 7.625 | 04/15/26 | 2,275 | 2,155,841 | |
| International Game Technology PLC, | |||||
| Sr. Sec’d. Notes, 144A | 5.250 | 01/15/29 | 600 | 618,977 | |
| Sr. Sec’d. Notes, 144A | 6.500 | 02/15/25 | 2,110 | 2,304,634 | |
| Jacobs Entertainment, Inc., Sec’d. Notes, 144A(aa) | 7.875 | 02/01/24 | 2,500 | 2,372,147 | |
| Merlin Entertainments Ltd. (United Kingdom), Gtd. Notes, 144A | 5.750 | 06/15/26 | 200 | 192,833 | |
| Motion Bondco DAC (United Kingdom), Gtd. Notes, 144A | 6.625 | 11/15/27 | 950 | 829,757 | |
| Penn National Gaming, Inc., Sr. Unsec’d. Notes, 144A(aa) | 5.625 | 01/15/27 | 2,630 | 2,730,358 | |
| Scientific Games International, Inc., | |||||
| Gtd. Notes, 144A(aa) | 7.250 | 11/15/29 | 700 | 693,199 | |
| Gtd. Notes, 144A(aa) | 8.250 | 03/15/26 | 2,750 | 2,832,652 | |
| Gtd. Notes, 144A(aa) | 8.625 | 07/01/25 | 1,375 | 1,432,940 | |
| Six Flags Entertainment Corp., | |||||
| Gtd. Notes, 144A | 4.875 | 07/31/24 | 787 | 763,212 | |
| Gtd. Notes, 144A | 5.500 | 04/15/27 | 525 | 513,405 | |
| Twin River Worldwide Holdings, Inc., Sr. Unsec’d. Notes, 144A(aa) | 6.750 | 06/01/27 | 1,320 | 1,309,564 | |
| Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., | |||||
| Gtd. Notes, 144A(aa) | 5.125 | 10/01/29 | 860 | 839,524 | |
| Sr. Unsec’d. Notes, 144A | 7.750 | 04/15/25 | 275 | 289,603 | |
| 31,668,078 | |||||
| Foods 3.4% | |||||
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, | |||||
| Gtd. Notes, 144A(aa) | 4.875 | 02/15/30 | 600 | 647,614 | |
| Sr. Unsec’d. Notes, 144A | 3.500 | 03/15/29 | 1,200 | 1,208,777 | |
| B&G Foods, Inc., Gtd. Notes | 5.250 | 09/15/27 | 1,200 | 1,278,601 | |
| JBS USA LUX SA/JBS USA Finance, Inc., | |||||
| Gtd. Notes, 144A(aa) | 5.750 | 06/15/25 | 1,650 | 1,702,678 | |
| Gtd. Notes, 144A(aa) | 5.875 | 07/15/24 | 250 | 255,084 | |
12
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Corporate Bonds (Continued) | |||||
| Foods (cont’d.) | |||||
| JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc., | |||||
| Gtd. Notes, 144A(aa) | 6.500 % | 04/15/29 | 1,025 | $1,163,639 | |
| Sr. Unsec’d. Notes, 144A(aa) | 5.500 | 01/15/30 | 1,950 | 2,164,054 | |
| Pilgrim’s Pride Corp., | |||||
| Gtd. Notes, 144A | 5.750 | 03/15/25 | 50 | 51,330 | |
| Gtd. Notes, 144A(aa) | 5.875 | 09/30/27 | 4,800 | 5,099,199 | |
| Post Holdings, Inc., | |||||
| Gtd. Notes, 144A(aa) | 5.500 | 12/15/29 | 1,375 | 1,506,843 | |
| Gtd. Notes, 144A | 5.625 | 01/15/28 | 111 | 118,604 | |
| Gtd. Notes, 144A(aa) | 5.750 | 03/01/27 | 1,350 | 1,425,338 | |
| TreeHouse Foods, Inc., Gtd. Notes | 4.000 | 09/01/28 | 125 | 127,107 | |
| US Foods, Inc., Gtd. Notes, 144A(aa) | 5.875 | 06/15/24 | 1,475 | 1,494,959 | |
| 18,243,827 | |||||
| Gas 1.0% | |||||
| AmeriGas Partners LP/AmeriGas Finance Corp., | |||||
| Sr. Unsec’d. Notes(aa) | 5.500 | 05/20/25 | 600 | 661,721 | |
| Sr. Unsec’d. Notes(aa) | 5.625 | 05/20/24 | 225 | 246,374 | |
| Sr. Unsec’d. Notes(aa) | 5.750 | 05/20/27 | 3,250 | 3,677,527 | |
| Sr. Unsec’d. Notes(aa) | 5.875 | 08/20/26 | 675 | 765,894 | |
| 5,351,516 | |||||
| Healthcare-Services 6.1% | |||||
| Acadia Healthcare Co., Inc., Gtd. Notes | 6.500 | 03/01/24 | 150 | 154,504 | |
| Centene Corp., Sr. Unsec’d. Notes(aa) | 4.250 | 12/15/27 | 1,050 | 1,103,784 | |
| CHS/Community Health Systems, Inc., Sr. Sec’d. Notes | 6.250 | 03/31/23 | 325 | 325,959 | |
| DaVita, Inc., Gtd. Notes, 144A(aa) | 4.625 | 06/01/30 | 1,025 | 1,076,512 | |
| Encompass Health Corp., Gtd. Notes(aa) | 4.750 | 02/01/30 | 540 | 563,183 | |
| Hadrian Merger Sub, Inc., Sr. Unsec’d. Notes, 144A(aa) | 8.500 | 05/01/26 | 452 | 436,530 | |
| HCA, Inc., | |||||
| Gtd. Notes(aa) | 5.625 | 09/01/28 | 3,700 | 4,401,663 | |
| Sr. Sec’d. Notes(aa) | 4.750 | 05/01/23 | 4,700 | 5,163,845 | |
13
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Corporate Bonds (Continued) | |||||
| Healthcare-Services (cont’d.) | |||||
| MEDNAX, Inc., | |||||
| Gtd. Notes, 144A | 5.250 % | 12/01/23 | 525 | $532,663 | |
| Gtd. Notes, 144A(aa) | 6.250 | 01/15/27 | 755 | 800,141 | |
| Molina Healthcare, Inc., Sr. Unsec’d. Notes(aa) | 5.375 | 11/15/22 | 1,610 | 1,691,273 | |
| Polaris Intermediate Corp., Sr. Unsec’d. Notes, 144A, Cash coupon 8.500% or PIK 9.250% | 8.500 | 12/01/22 | 510 | 518,495 | |
| RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc., Gtd. Notes, 144A(aa) | 9.750 | 12/01/26 | 4,300 | 4,666,223 | |
| Surgery Center Holdings, Inc., Gtd. Notes, 144A(aa) | 10.000 | 04/15/27 | 1,195 | 1,293,024 | |
| Tenet Healthcare Corp., | |||||
| Sec’d. Notes | 5.125 | 05/01/25 | 300 | 307,423 | |
| Sec’d. Notes, 144A | 6.250 | 02/01/27 | 350 | 368,282 | |
| Sr. Sec’d. Notes, 144A(aa) | 4.875 | 01/01/26 | 1,118 | 1,163,085 | |
| Sr. Unsec’d. Notes(aa) | 6.750 | 06/15/23 | 3,475 | 3,712,695 | |
| Sr. Unsec’d. Notes(aa) | 6.875 | 11/15/31 | 1,250 | 1,223,153 | |
| Sr. Unsec’d. Notes(aa) | 7.000 | 08/01/25 | 1,800 | 1,861,236 | |
| Sr. Unsec’d. Notes(aa) | 8.125 | 04/01/22 | 975 | 1,052,698 | |
| 32,416,371 | |||||
| Home Builders 6.4% | |||||
| Ashton Woods USA LLC/Ashton Woods Finance Co., Sr. Unsec’d. Notes, 144A(aa) | 9.875 | 04/01/27 | 2,608 | 2,863,421 | |
| Beazer Homes USA, Inc., | |||||
| Gtd. Notes(aa) | 5.875 | 10/15/27 | 1,350 | 1,370,783 | |
| Gtd. Notes(aa) | 7.250 | 10/15/29 | 2,675 | 2,875,838 | |
| Brookfield Residential Properties, Inc./Brookfield Residential US Corp. (Canada), | |||||
| Gtd. Notes, 144A(aa) | 4.875 | 02/15/30 | 1,875 | 1,755,704 | |
| Gtd. Notes, 144A(aa) | 6.250 | 09/15/27 | 815 | 827,230 | |
| Gtd. Notes, 144A | 6.375 | 05/15/25 | 300 | 304,131 | |
| Century Communities, Inc., Gtd. Notes | 6.750 | 06/01/27 | 1,725 | 1,859,236 | |
| Forestar Group, Inc., | |||||
| Gtd. Notes, 144A(aa) | 5.000 | 03/01/28 | 650 | 656,616 | |
| Gtd. Notes, 144A(aa) | 8.000 | 04/15/24 | 1,025 | 1,087,162 | |
| KB Home, | |||||
| Gtd. Notes | 4.800 | 11/15/29 | 425 | 461,057 | |
14
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Corporate Bonds (Continued) | |||||
| Home Builders (cont’d.) | |||||
| KB Home, (cont’d.) | |||||
| Gtd. Notes(aa) | 6.875 % | 06/15/27 | 1,800 | $2,107,172 | |
| Lennar Corp., Gtd. Notes(aa) | 5.000 | 06/15/27 | 1,250 | 1,424,746 | |
| M/I Homes, Inc., | |||||
| Gtd. Notes | 4.950 | 02/01/28 | 425 | 441,154 | |
| Gtd. Notes(aa) | 5.625 | 08/01/25 | 1,000 | 1,034,508 | |
| Mattamy Group Corp. (Canada), | |||||
| Sr. Unsec’d. Notes, 144A(aa) | 4.625 | 03/01/30 | 900 | 927,192 | |
| Sr. Unsec’d. Notes, 144A(aa) | 5.250 | 12/15/27 | 1,075 | 1,138,762 | |
| Meritage Homes Corp., Gtd. Notes(aa) | 5.125 | 06/06/27 | 2,748 | 3,017,725 | |
| New Home Co., Inc. (The), Gtd. Notes(aa) | 7.250 | 04/01/22 | 2,275 | 2,200,241 | |
| PulteGroup, Inc., Gtd. Notes | 5.000 | 01/15/27 | 487 | 556,590 | |
| Shea Homes LP/Shea Homes Funding Corp., Sr. Unsec’d. Notes, 144A | 4.750 | 02/15/28 | 250 | 256,356 | |
| STL Holding Co. LLC, Sr. Unsec’d. Notes, 144A | 7.500 | 02/15/26 | 425 | 427,414 | |
| Taylor Morrison Communities, Inc., | |||||
| Gtd. Notes, 144A(aa) | 5.875 | 01/31/25 | 561 | 572,035 | |
| Gtd. Notes, 144A | 5.875 | 06/15/27 | 400 | 448,145 | |
| Gtd. Notes, 144A | 6.000 | 09/01/23 | 8 | 8,190 | |
| Gtd. Notes, 144A(aa) | 6.625 | 07/15/27 | 2,800 | 3,025,508 | |
| Sr. Unsec’d. Notes, 144A | 5.125 | 08/01/30 | 455 | 493,847 | |
| Taylor Morrison Communities, Inc./Taylor Morrison Holdings II, Inc., Gtd. Notes, 144A(aa) | 5.625 | 03/01/24 | 1,873 | 1,997,554 | |
| TRI Pointe Group, Inc., Gtd. Notes | 5.700 | 06/15/28 | 315 | 347,686 | |
| 34,486,003 | |||||
| Household Products/Wares 0.2% | |||||
| Spectrum Brands, Inc., | |||||
| Gtd. Notes | 5.750 | 07/15/25 | 575 | 593,998 | |
| Gtd. Notes, 144A | 5.000 | 10/01/29 | 250 | 260,038 | |
| 854,036 | |||||
15
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Corporate Bonds (Continued) | |||||
| Housewares 0.2% | |||||
| Scotts Miracle-Gro Co. (The), Gtd. Notes(aa) | 4.500 % | 10/15/29 | 1,125 | $1,204,705 | |
| Iron/Steel 0.3% | |||||
| Cleveland-Cliffs, Inc., | |||||
| Sr. Sec’d. Notes, 144A | 6.750 | 03/15/26 | 300 | 306,403 | |
| Sr. Sec’d. Notes, 144A(aa) | 9.875 | 10/17/25 | 1,300 | 1,432,029 | |
| 1,738,432 | |||||
| Leisure Time 0.9% | |||||
| NCL Corp. Ltd., | |||||
| Sr. Sec’d. Notes, 144A | 10.250 | 02/01/26 | 980 | 989,656 | |
| Sr. Sec’d. Notes, 144A | 12.250 | 05/15/24 | 385 | 428,705 | |
| Sr. Unsec’d. Notes, 144A | 3.625 | 12/15/24 | 1,125 | 772,306 | |
| Royal Caribbean Cruises Ltd., | |||||
| Gtd. Notes, 144A | 9.125 | 06/15/23 | 180 | 189,509 | |
| Sr. Sec’d. Notes, 144A | 10.875 | 06/01/23 | 290 | 319,490 | |
| Sr. Unsec’d. Notes | 2.650 | 11/28/20 | 775 | 773,236 | |
| Sr. Unsec’d. Notes | 5.250 | 11/15/22 | 150 | 134,303 | |
| Viking Cruises Ltd., | |||||
| Gtd. Notes, 144A | 5.875 | 09/15/27 | 900 | 631,788 | |
| Sr. Sec’d. Notes, 144A | 13.000 | 05/15/25 | 275 | 306,113 | |
| 4,545,106 | |||||
| Lodging 2.5% | |||||
| Boyd Gaming Corp., | |||||
| Gtd. Notes | 6.000 | 08/15/26 | 630 | 660,457 | |
| Gtd. Notes | 6.375 | 04/01/26 | 775 | 808,325 | |
| Gtd. Notes, 144A | 8.625 | 06/01/25 | 500 | 551,508 | |
| Hilton Domestic Operating Co., Inc., | |||||
| Gtd. Notes(aa) | 5.125 | 05/01/26 | 1,250 | 1,290,355 | |
| Gtd. Notes, 144A | 5.375 | 05/01/25 | 300 | 314,485 | |
| Gtd. Notes, 144A | 5.750 | 05/01/28 | 325 | 343,754 | |
| Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., Gtd. Notes | 4.875 | 04/01/27 | 625 | 643,964 | |
| Marriott International, Inc., | |||||
| Sr. Unsec’d. Notes | 2.875 | 03/01/21 | 250 | 251,936 | |
| Sr. Unsec’d. Notes, Series EE | 5.750 | 05/01/25 | 300 | 337,253 | |
| MGM Resorts International, | |||||
| Gtd. Notes(aa) | 5.500 | 04/15/27 | 686 | 725,469 | |
16
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Corporate Bonds (Continued) | |||||
| Lodging (cont’d.) | |||||
| MGM Resorts International, (cont’d.) | |||||
| Gtd. Notes(aa) | 6.000 % | 03/15/23 | 1,200 | $1,261,145 | |
| Gtd. Notes(aa) | 6.750 | 05/01/25 | 2,325 | 2,480,781 | |
| Station Casinos LLC, Gtd. Notes, 144A(aa) | 4.500 | 02/15/28 | 1,150 | 1,092,944 | |
| Wyndham Destinations, Inc., Sr. Sec’d. Notes, 144A | 4.625 | 03/01/30 | 575 | 541,601 | |
| Wynn Macau Ltd. (Macau), | |||||
| Sr. Unsec’d. Notes, 144A | 5.125 | 12/15/29 | 1,350 | 1,327,752 | |
| Sr. Unsec’d. Notes, 144A | 5.500 | 01/15/26 | 800 | 810,358 | |
| 13,442,087 | |||||
| Machinery-Diversified 0.5% | |||||
| Maxim Crane Works Holdings Capital LLC, Sec’d. Notes, 144A(aa) | 10.125 | 08/01/24 | 2,475 | 2,466,260 | |
| Media 10.9% | |||||
| CCO Holdings LLC/CCO Holdings Capital Corp., | |||||
| Sr. Unsec’d. Notes, 144A | 4.250 | 02/01/31 | 4,050 | 4,235,634 | |
| Sr. Unsec’d. Notes, 144A | 4.500 | 05/01/32 | 650 | 688,971 | |
| Sr. Unsec’d. Notes, 144A(aa) | 4.750 | 03/01/30 | 2,300 | 2,469,820 | |
| Sr. Unsec’d. Notes, 144A(aa) | 5.375 | 06/01/29 | 3,300 | 3,622,869 | |
| Sr. Unsec’d. Notes, 144A | 5.500 | 05/01/26 | 500 | 522,818 | |
| Clear Channel Worldwide Holdings, Inc., | |||||
| Gtd. Notes(aa) | 9.250 | 02/15/24 | 10,676 | 10,453,070 | |
| Sr. Sec’d. Notes, 144A | 5.125 | 08/15/27 | 400 | 402,878 | |
| CSC Holdings LLC, | |||||
| Gtd. Notes, 144A | 4.125 | 12/01/30 | 775 | 803,652 | |
| Sr. Unsec’d. Notes, 144A | 3.375 | 02/15/31 | 1,175 | 1,159,264 | |
| Sr. Unsec’d. Notes, 144A | 4.625 | 12/01/30 | 4,225 | 4,321,911 | |
| Diamond Sports Group LLC/Diamond Sports Finance Co., | |||||
| Gtd. Notes, 144A(aa) | 6.625 | 08/15/27 | 5,755 | 3,232,270 | |
| Sr. Sec’d. Notes, 144A(aa) | 5.375 | 08/15/26 | 3,925 | 3,060,719 | |
| DISH DBS Corp., | |||||
| Gtd. Notes(aa) | 7.750 | 07/01/26 | 3,835 | 4,390,577 | |
| Gtd. Notes, 144A | 7.375 | 07/01/28 | 740 | 785,288 | |
| Entercom Media Corp., | |||||
| Gtd. Notes, 144A(aa) | 7.250 | 11/01/24 | 500 | 403,117 | |
| Sec’d. Notes, 144A(aa) | 6.500 | 05/01/27 | 2,110 | 1,817,003 | |
17
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Corporate Bonds (Continued) | |||||
| Media (cont’d.) | |||||
| Gray Television, Inc., Gtd. Notes, 144A(aa) | 7.000 % | 05/15/27 | 1,950 | $2,115,058 | |
| iHeartCommunications, Inc., | |||||
| Gtd. Notes(aa) | 8.375 | 05/01/27 | 1,625 | 1,640,248 | |
| Sr. Sec’d. Notes | 6.375 | 05/01/26 | 200 | 209,242 | |
| Midcontinent Communications/Midcontinent Finance Corp., Gtd. Notes, 144A | 5.375 | 08/15/27 | 550 | 570,398 | |
| Nexstar Broadcasting, Inc., Gtd. Notes, 144A(aa) | 5.625 | 07/15/27 | 1,000 | 1,057,516 | |
| Radiate Holdco LLC/Radiate Finance, Inc., | |||||
| Sr. Unsec’d. Notes, 144A(aa) | 6.625 | 02/15/25 | 3,525 | 3,592,245 | |
| Sr. Unsec’d. Notes, 144A(aa) | 6.875 | 02/15/23 | 1,155 | 1,173,876 | |
| Scripps Escrow, Inc., Gtd. Notes, 144A(aa) | 5.875 | 07/15/27 | 1,190 | 1,190,233 | |
| Univision Communications, Inc., | |||||
| Sr. Sec’d. Notes, 144A(aa) | 5.125 | 02/15/25 | 800 | 803,863 | |
| Sr. Sec’d. Notes, 144A(aa) | 6.625 | 06/01/27 | 3,460 | 3,499,149 | |
| 58,221,689 | |||||
| Mining 3.4% | |||||
| Constellium SE, Gtd. Notes, 144A(aa) | 6.625 | 03/01/25 | 3,395 | 3,510,995 | |
| Eldorado Gold Corp. (Turkey), Sec’d. Notes, 144A(aa) | 9.500 | 06/01/24 | 1,408 | 1,540,167 | |
| First Quantum Minerals Ltd. (Zambia), | |||||
| Gtd. Notes, 144A | 6.875 | 03/01/26 | 300 | 299,416 | |
| Gtd. Notes, 144A | 7.250 | 05/15/22 | 765 | 767,363 | |
| Gtd. Notes, 144A | 7.250 | 04/01/23 | 750 | 761,977 | |
| Gtd. Notes, 144A | 7.500 | 04/01/25 | 2,305 | 2,350,059 | |
| Freeport-McMoRan, Inc., | |||||
| Gtd. Notes | 4.375 | 08/01/28 | 1,075 | 1,129,745 | |
| Gtd. Notes | 4.625 | 08/01/30 | 800 | 855,489 | |
| Hecla Mining Co., Gtd. Notes(aa) | 7.250 | 02/15/28 | 385 | 424,416 | |
| IAMGOLD Corp. (Burkina Faso), Gtd. Notes, 144A(aa) | 7.000 | 04/15/25 | 1,350 | 1,417,372 | |
| New Gold, Inc. (Canada), | |||||
| Gtd. Notes, 144A(aa) | 6.375 | 05/15/25 | 1,369 | 1,428,641 | |
| Sr. Unsec’d. Notes, 144A | 7.500 | 07/15/27 | 830 | 899,395 | |
18
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Corporate Bonds (Continued) | |||||
| Mining (cont’d.) | |||||
| Novelis Corp., | |||||
| Gtd. Notes, 144A | 4.750 % | 01/30/30 | 925 | $938,673 | |
| Gtd. Notes, 144A | 5.875 | 09/30/26 | 1,575 | 1,642,957 | |
| 17,966,665 | |||||
| Miscellaneous Manufacturing 0.3% | |||||
| Amsted Industries, Inc., | |||||
| Gtd. Notes, 144A(aa) | 5.625 | 07/01/27 | 575 | 611,258 | |
| Sr. Unsec’d. Notes, 144A(aa) | 4.625 | 05/15/30 | 785 | 817,188 | |
| FXI Holdings, Inc., Sr. Sec’d. Notes, 144A | 7.875 | 11/01/24 | 222 | 215,324 | |
| 1,643,770 | |||||
| Office/Business Equipment 0.1% | |||||
| CDW LLC/CDW Finance Corp., Gtd. Notes | 3.250 | 02/15/29 | 410 | 419,006 | |
| Oil & Gas 8.8% | |||||
| Alta Mesa Holdings LP/Alta Mesa Finance Services Corp., Gtd. Notes | 7.875 | 12/15/24(d) | 5,325 | 3,514 | |
| Antero Resources Corp., | |||||
| Gtd. Notes(aa) | 5.000 | 03/01/25 | 2,775 | 1,909,653 | |
| Gtd. Notes | 5.375 | 11/01/21 | 375 | 367,453 | |
| Gtd. Notes(aa) | 5.625 | 06/01/23 | 3,925 | 3,107,077 | |
| Ascent Resources Utica Holdings LLC/ARU Finance Corp., | |||||
| Sr. Unsec’d. Notes, 144A (original cost $434,543; purchased 05/09/19)(f) | 7.000 | 11/01/26 | 450 | 311,461 | |
| Sr. Unsec’d. Notes, 144A (original cost $5,118,450; purchased 03/29/17-08/21/18)(aa)(f) | 10.000 | 04/01/22 | 4,944 | 4,619,267 | |
| Citgo Holding, Inc., Sr. Sec’d. Notes, 144A | 9.250 | 08/01/24 | 1,825 | 1,801,982 | |
| Citgo Petroleum Corp., Sr. Sec’d. Notes, 144A | 7.000 | 06/15/25 | 1,175 | 1,181,501 | |
| CNX Resources Corp., | |||||
| Gtd. Notes(aa) | 5.875 | 04/15/22 | 1,123 | 1,127,022 | |
| Gtd. Notes, 144A(aa) | 7.250 | 03/14/27 | 1,350 | 1,404,066 | |
| CrownRock LP/CrownRock Finance, Inc., Sr. Unsec’d. Notes, 144A | 5.625 | 10/15/25 | 575 | 569,204 | |
19
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Corporate Bonds (Continued) | |||||
| Oil & Gas (cont’d.) | |||||
| Diamond Offshore Drilling, Inc., Sr. Unsec’d. Notes | 7.875 % | 08/15/25(d) | 1,350 | $132,553 | |
| Endeavor Energy Resources LP/EER Finance, Inc., | |||||
| Sr. Unsec’d. Notes, 144A(aa) | 5.500 | 01/30/26 | 1,925 | 1,927,942 | |
| Sr. Unsec’d. Notes, 144A(aa) | 5.750 | 01/30/28 | 975 | 995,568 | |
| Sr. Unsec’d. Notes, 144A | 6.625 | 07/15/25 | 300 | 312,379 | |
| EQT Corp., Sr. Unsec’d. Notes | 3.900 | 10/01/27 | 1,225 | 1,176,989 | |
| Extraction Oil & Gas, Inc., | |||||
| Gtd. Notes, 144A (original cost $2,146,203; purchased 03/11/19-06/25/19)(f) | 5.625 | 02/01/26(d) | 2,702 | 653,716 | |
| Gtd. Notes, 144A (original cost $816,563; purchased 03/27/19)(f) | 7.375 | 05/15/24(d) | 975 | 232,792 | |
| Hilcorp Energy I LP/Hilcorp Finance Co., | |||||
| Sr. Unsec’d. Notes, 144A(aa) | 5.750 | 10/01/25 | 1,075 | 1,012,538 | |
| Sr. Unsec’d. Notes, 144A(aa) | 6.250 | 11/01/28 | 1,658 | 1,560,028 | |
| MEG Energy Corp. (Canada), Gtd. Notes, 144A(aa) | 7.125 | 02/01/27 | 1,525 | 1,451,596 | |
| Nabors Industries Ltd., | |||||
| Gtd. Notes, 144A | 7.250 | 01/15/26 | 400 | 187,087 | |
| Gtd. Notes, 144A | 7.500 | 01/15/28 | 725 | 310,750 | |
| Nabors Industries, Inc., Gtd. Notes(aa) | 5.750 | 02/01/25 | 4,325 | 1,243,131 | |
| Occidental Petroleum Corp., | |||||
| Sr. Unsec’d. Notes | 2.700 | 08/15/22 | 2,275 | 2,236,975 | |
| Sr. Unsec’d. Notes | 2.700 | 02/15/23 | 825 | 794,827 | |
| Sr. Unsec’d. Notes | 2.900 | 08/15/24 | 1,375 | 1,265,203 | |
| Sr. Unsec’d. Notes | 3.125 | 02/15/22 | 50 | 49,512 | |
| Sr. Unsec’d. Notes | 3.200 | 08/15/26 | 25 | 21,947 | |
| Sr. Unsec’d. Notes | 3.450 | 07/15/24 | 400 | 361,630 | |
| Sr. Unsec’d. Notes | 6.625 | 09/01/30 | 450 | 463,861 | |
| PBF Holding Co. LLC/PBF Finance Corp., Sr. Sec’d. Notes, 144A(aa) | 9.250 | 05/15/25 | 1,270 | 1,397,429 | |
| Precision Drilling Corp. (Canada), Gtd. Notes, 144A(aa) | 7.125 | 01/15/26 | 2,560 | 1,742,394 | |
| Range Resources Corp., | |||||
| Gtd. Notes(aa) | 4.875 | 05/15/25 | 1,000 | 932,429 | |
| Gtd. Notes | 5.000 | 03/15/23 | 2,205 | 2,197,026 | |
| Gtd. Notes | 5.875 | 07/01/22 | 173 | 175,443 | |
| Gtd. Notes, 144A(aa) | 9.250 | 02/01/26 | 1,325 | 1,395,585 | |
| Sunoco LP/Sunoco Finance Corp., Gtd. Notes(aa) | 4.875 | 01/15/23 | 1,450 | 1,476,852 | |
20
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Corporate Bonds (Continued) | |||||
| Oil & Gas (cont’d.) | |||||
| Transocean, Inc., | |||||
| Gtd. Notes, 144A | 7.250 % | 11/01/25 | 1,820 | $597,859 | |
| Gtd. Notes, 144A | 7.500 | 01/15/26 | 3,250 | 1,003,963 | |
| Gtd. Notes, 144A | 8.000 | 02/01/27 | 850 | 252,722 | |
| WPX Energy, Inc., | |||||
| Sr. Unsec’d. Notes(aa) | 5.250 | 09/15/24 | 1,825 | 1,863,797 | |
| Sr. Unsec’d. Notes(aa) | 5.250 | 10/15/27 | 1,225 | 1,218,717 | |
| 47,047,440 | |||||
| Packaging & Containers 1.1% | |||||
| ARD Finance SA (Luxembourg), Sr. Sec’d. Notes, 144A, Cash coupon 6.500% or PIK 7.250%(aa) | 6.500 | 06/30/27 | 1,275 | 1,313,685 | |
| Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., | |||||
| Sr. Sec’d. Notes, 144A | 4.125 | 08/15/26 | 475 | 495,052 | |
| Sr. Unsec’d. Notes, 144A | 5.250 | 08/15/27 | 1,075 | 1,116,099 | |
| Graham Packaging Co., Inc., Gtd. Notes, 144A | 7.125 | 08/15/28 | 235 | 246,852 | |
| Owens-Brockway Glass Container, Inc., | |||||
| Gtd. Notes, 144A | 6.375 | 08/15/25 | 500 | 552,391 | |
| Gtd. Notes, 144A(aa) | 6.625 | 05/13/27 | 975 | 1,075,628 | |
| Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer Lu, | |||||
| Gtd. Notes, 144A | 7.000 | 07/15/24 | 304 | 311,788 | |
| Sr. Sec’d. Notes, 144A | 5.125 | 07/15/23 | 300 | 304,401 | |
| TriMas Corp., Gtd. Notes, 144A | 4.875 | 10/15/25 | 365 | 371,665 | |
| 5,787,561 | |||||
| Pharmaceuticals 2.2% | |||||
| AdaptHealth LLC, Gtd. Notes, 144A | 6.125 | 08/01/28 | 420 | 440,942 | |
| Bausch Health Americas, Inc., Gtd. Notes, 144A | 8.500 | 01/31/27 | 1,500 | 1,650,207 | |
| Bausch Health Cos., Inc., | |||||
| Gtd. Notes, 144A(aa) | 5.000 | 01/30/28 | 1,000 | 988,395 | |
| Gtd. Notes, 144A(aa) | 5.250 | 01/30/30 | 750 | 744,648 | |
| Gtd. Notes, 144A(aa) | 6.125 | 04/15/25 | 4,600 | 4,729,807 | |
| Gtd. Notes, 144A | 6.250 | 02/15/29 | 1,000 | 1,045,103 | |
21
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Corporate Bonds (Continued) | |||||
| Pharmaceuticals (cont’d.) | |||||
| Bausch Health Cos., Inc., (cont’d.) | |||||
| Gtd. Notes, 144A(aa) | 7.000 % | 01/15/28 | 825 | $879,025 | |
| Gtd. Notes, 144A(aa) | 7.250 | 05/30/29 | 1,110 | 1,211,403 | |
| 11,689,530 | |||||
| Pipelines 4.1% | |||||
| Antero Midstream Partners LP/Antero Midstream Finance Corp., | |||||
| Gtd. Notes(aa) | 5.375 | 09/15/24 | 530 | 485,575 | |
| Gtd. Notes, 144A(aa) | 5.750 | 01/15/28 | 2,425 | 2,147,330 | |
| DCP Midstream Operating LP, | |||||
| Gtd. Notes(aa) | 5.125 | 05/15/29 | 1,375 | 1,445,326 | |
| Gtd. Notes | 5.625 | 07/15/27 | 510 | 551,021 | |
| Energy Transfer Operating LP, Jr. Sub. Notes, Series G(aa) | 7.125(ff) | –(rr) | 1,075 | 919,172 | |
| EQM Midstream Partners LP, | |||||
| Sr. Unsec’d. Notes, 144A | 6.000 | 07/01/25 | 930 | 987,270 | |
| Sr. Unsec’d. Notes, 144A | 6.500 | 07/01/27 | 400 | 438,409 | |
| Global Partners LP/GLP Finance Corp., | |||||
| Gtd. Notes(aa) | 7.000 | 06/15/23 | 825 | 827,059 | |
| Gtd. Notes(aa) | 7.000 | 08/01/27 | 750 | 753,328 | |
| NGPL PipeCo LLC, | |||||
| Sr. Unsec’d. Notes, 144A | 4.875 | 08/15/27 | 25 | 27,340 | |
| Sr. Unsec’d. Notes, 144A | 7.768 | 12/15/37 | 1,000 | 1,215,992 | |
| Rattler Midstream LP, Gtd. Notes, 144A | 5.625 | 07/15/25 | 335 | 356,160 | |
| Rockies Express Pipeline LLC, Sr. Unsec’d. Notes, 144A | 6.875 | 04/15/40 | 2,750 | 2,845,311 | |
| Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., | |||||
| Gtd. Notes, 144A | 5.500 | 09/15/24 | 75 | 73,113 | |
| Gtd. Notes, 144A(aa) | 5.500 | 01/15/28 | 3,304 | 3,023,483 | |
| Targa Resources Partners LP/Targa Resources Partners Finance Corp., | |||||
| Gtd. Notes(aa) | 5.375 | 02/01/27 | 1,400 | 1,455,815 | |
| Gtd. Notes(aa) | 6.500 | 07/15/27 | 1,000 | 1,081,903 | |
| Western Midstream Operating LP, | |||||
| Sr. Unsec’d. Notes | 3.950 | 06/01/25 | 600 | 600,310 | |
| Sr. Unsec’d. Notes | 4.000 | 07/01/22 | 250 | 255,750 | |
| Sr. Unsec’d. Notes(aa) | 5.050 | 02/01/30 | 2,375 | 2,434,679 | |
| 21,924,346 | |||||
22
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Corporate Bonds (Continued) | |||||
| Real Estate 1.4% | |||||
| Five Point Operating Co. LP/Five Point Capital Corp., Gtd. Notes, 144A(aa) | 7.875 % | 11/15/25 | 2,200 | $2,230,887 | |
| Greystar Real Estate Partners LLC, Sr. Sec’d. Notes, 144A(aa) | 5.750 | 12/01/25 | 2,000 | 2,047,388 | |
| Howard Hughes Corp. (The), | |||||
| Gtd. Notes, 144A | 5.375 | 08/01/28 | 340 | 345,196 | |
| Sr. Unsec’d. Notes, 144A(aa) | 5.375 | 03/15/25 | 775 | 786,929 | |
| Hunt Cos., Inc., Sr. Sec’d. Notes, 144A(aa) | 6.250 | 02/15/26 | 2,225 | 2,106,763 | |
| 7,517,163 | |||||
| Real Estate Investment Trusts (REITs) 2.9% | |||||
| Diversified Healthcare Trust, Gtd. Notes | 9.750 | 06/15/25 | 1,750 | 1,954,840 | |
| ESH Hospitality, Inc., Gtd. Notes, 144A(aa) | 5.250 | 05/01/25 | 1,375 | 1,399,114 | |
| GLP Capital LP/GLP Financing II, Inc., | |||||
| Gtd. Notes | 4.000 | 01/15/30 | 325 | 338,584 | |
| Gtd. Notes(aa) | 5.375 | 11/01/23 | 750 | 803,066 | |
| Gtd. Notes | 5.375 | 04/15/26 | 475 | 527,573 | |
| Host Hotels & Resorts LP, Sr. Unsec’d. Notes, Series H | 3.375 | 12/15/29 | 1,000 | 972,617 | |
| MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer, Inc., | |||||
| Gtd. Notes(aa) | 4.500 | 01/15/28 | 2,000 | 2,072,570 | |
| Gtd. Notes, 144A | 4.625 | 06/15/25 | 245 | 258,634 | |
| MPT Operating Partnership LP/MPT Finance Corp., Gtd. Notes(aa) | 5.000 | 10/15/27 | 2,325 | 2,460,697 | |
| Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer, Sr. Sec’d. Notes, 144A(aa) | 7.500 | 06/01/25 | 1,940 | 2,082,649 | |
| RHP Hotel Properties LP/RHP Finance Corp., | |||||
| Gtd. Notes | 4.750 | 10/15/27 | 250 | 228,707 | |
| Gtd. Notes | 5.000 | 04/15/23 | 75 | 73,706 | |
| VICI Properties LP/VICI Note Co., Inc., | |||||
| Gtd. Notes, 144A(aa) | 4.250 | 12/01/26 | 1,235 | 1,266,428 | |
| Gtd. Notes, 144A(aa) | 4.625 | 12/01/29 | 1,000 | 1,043,992 | |
| 15,483,177 | |||||
23
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Corporate Bonds (Continued) | |||||
| Retail 5.2% | |||||
| Brinker International, Inc., Gtd. Notes, 144A(aa) | 5.000 % | 10/01/24 | 1,250 | $1,243,879 | |
| Carvana Co., Gtd. Notes, 144A(aa) | 8.875 | 10/01/23 | 3,775 | 3,950,208 | |
| CEC Entertainment, Inc., Gtd. Notes | 8.000 | 02/15/22(d) | 1,175 | 129,787 | |
| eG Global Finance PLC (United Kingdom), Sr. Sec’d. Notes, 144A(aa) | 8.500 | 10/30/25 | 1,450 | 1,553,199 | |
| Ferrellgas LP/Ferrellgas Finance Corp., | |||||
| Gtd. Notes (original cost $864,688; purchased 09/25/17-09/30/19)(f) | 6.750 | 06/15/23 | 925 | 803,810 | |
| Sr. Unsec’d. Notes (original cost $1,637,463; purchased 01/28/19-08/28/19)(f) | 6.500 | 05/01/21 | 1,850 | 1,632,606 | |
| Sr. Unsec’d. Notes (original cost $71,238; purchased 07/23/19)(f) | 6.750 | 01/15/22 | 82 | 72,708 | |
| Ferrellgas Partners LP/Ferrellgas Partners Finance Corp., | |||||
| Sr. Unsec’d. Notes (original cost $976,906; purchased 05/06/15-01/10/19)(f) | 8.625 | 09/30/20 | 975 | 256,597 | |
| Sr. Unsec’d. Notes (original cost $2,950,281; purchased 01/30/17-09/26/19)(f) | 8.625 | 09/30/20 | 3,275 | 867,875 | |
| Golden Nugget, Inc., | |||||
| Gtd. Notes, 144A(aa) | 8.750 | 10/01/25 | 875 | 652,295 | |
| Sr. Unsec’d. Notes, 144A(aa) | 6.750 | 10/15/24 | 2,724 | 2,329,452 | |
| L Brands, Inc., | |||||
| Gtd. Notes | 5.625 | 02/15/22 | 100 | 103,009 | |
| Gtd. Notes(aa) | 5.625 | 10/15/23 | 595 | 620,253 | |
| PetSmart, Inc., | |||||
| Gtd. Notes, 144A(aa) | 7.125 | 03/15/23 | 2,625 | 2,644,355 | |
| Sr. Sec’d. Notes, 144A(aa) | 5.875 | 06/01/25 | 1,582 | 1,629,115 | |
| Rite Aid Corp., | |||||
| Sr. Sec’d. Notes, 144A | 7.500 | 07/01/25 | 100 | 100,306 | |
| Sr. Sec’d. Notes, 144A(aa) | 8.000 | 11/15/26 | 1,746 | 1,780,071 | |
| Sally Holdings LLC/Sally Capital, Inc., | |||||
| Gtd. Notes | 5.500 | 11/01/23 | 150 | 152,048 | |
| Gtd. Notes(aa) | 5.625 | 12/01/25 | 2,075 | 2,135,764 | |
| Sec’d. Notes, 144A | 8.750 | 04/30/25 | 300 | 333,009 | |
| Suburban Propane Partners LP/Suburban Energy Finance Corp., | |||||
| Sr. Unsec’d. Notes(aa) | 5.750 | 03/01/25 | 1,885 | 1,931,130 | |
| Sr. Unsec’d. Notes | 5.875 | 03/01/27 | 175 | 181,970 | |
24
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Corporate Bonds (Continued) | |||||
| Retail (cont’d.) | |||||
| Superior Plus LP/Superior General Partner, Inc. (Canada), Sr. Unsec’d. Notes, 144A(aa) | 7.000 % | 07/15/26 | 675 | $729,288 | |
| Yum! Brands, Inc., Sr. Unsec’d. Notes(aa) | 3.875 | 11/01/20 | 2,250 | 2,250,621 | |
| 28,083,355 | |||||
| Semiconductors 0.3% | |||||
| Microchip Technology, Inc., Gtd. Notes, 144A | 4.250 | 09/01/25 | 430 | 447,233 | |
| NXP BV/NXP Funding LLC (Netherlands), Gtd. Notes, 144A(aa) | 3.875 | 09/01/22 | 1,090 | 1,155,783 | |
| 1,603,016 | |||||
| Software 0.7% | |||||
| Black Knight InfoServ LLC, Gtd. Notes, 144A | 3.625 | 09/01/28 | 925 | 937,221 | |
| Boxer Parent Co., Inc., Sr. Sec’d. Notes, 144A | 7.125 | 10/02/25 | 425 | 461,436 | |
| BY Crown Parent LLC, Gtd. Notes, 144A(aa) | 7.375 | 10/15/24 | 1,410 | 1,443,338 | |
| BY Crown Parent LLC/BY Bond Finance, Inc., Sr. Sec’d. Notes, 144A | 4.250 | 01/31/26 | 810 | 827,094 | |
| 3,669,089 | |||||
| Telecommunications 8.0% | |||||
| Altice France Holding SA (Luxembourg), Gtd. Notes, 144A | 6.000 | 02/15/28 | 125 | 124,718 | |
| C&W Senior Financing DAC (Ireland), Sr. Unsec’d. Notes, 144A | 6.875 | 09/15/27 | 1,025 | 1,075,283 | |
| CenturyLink, Inc., | |||||
| Sr. Unsec’d. Notes(aa) | 5.625 | 04/01/25 | 1,830 | 1,977,306 | |
| Sr. Unsec’d. Notes, Series P | 7.600 | 09/15/39 | 1,200 | 1,382,550 | |
| Sr. Unsec’d. Notes, Series T(aa) | 5.800 | 03/15/22 | 700 | 731,422 | |
| Sr. Unsec’d. Notes, Series U | 7.650 | 03/15/42 | 1,930 | 2,228,182 | |
| CommScope Technologies LLC, Gtd. Notes, 144A | 6.000 | 06/15/25 | 769 | 788,610 | |
| CommScope, Inc., Gtd. Notes, 144A | 7.125 | 07/01/28 | 850 | 906,369 | |
25
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Corporate Bonds (Continued) | |||||
| Telecommunications (cont’d.) | |||||
| Digicel Group 0.5 Ltd. (Jamaica), Sr. Sec’d. Notes, Cash coupon 8.000% / PIK 2.000% or PIK 10.000% | 10.000 % | 04/01/24 | 400 | $303,191 | |
| Digicel International Finance Ltd./Digicel Holdings Bermuda Ltd. (Jamaica), | |||||
| Sr. Sec’d. Notes, 144A | 8.750 | 05/25/24 | 1,050 | 1,058,706 | |
| Sr. Sec’d. Notes, 144A | 8.750 | 05/25/24 | 525 | 530,250 | |
| Digicel Ltd. (Jamaica), Gtd. Notes, 144A | 6.750 | 03/01/23 | 6,368 | 4,218,521 | |
| Embarq Corp., Sr. Unsec’d. Notes | 7.995 | 06/01/36 | 3,940 | 4,724,058 | |
| Intelsat Jackson Holdings SA (Luxembourg), | |||||
| Gtd. Notes | 5.500 | 08/01/23(d) | 2,160 | 1,414,883 | |
| Gtd. Notes, 144A | 9.750 | 07/15/25(d) | 4,135 | 2,846,394 | |
| Intelsat Luxembourg SA (Luxembourg), Gtd. Notes | 8.125 | 06/01/23(d) | 1,035 | 49,119 | |
| Intrado Corp., Gtd. Notes, 144A(aa) | 8.500 | 10/15/25 | 3,895 | 3,455,921 | |
| ORBCOMM, Inc., Sr. Sec’d. Notes, 144A(aa) | 8.000 | 04/01/24 | 1,020 | 1,000,664 | |
| Sprint Capital Corp., | |||||
| Gtd. Notes | 6.875 | 11/15/28 | 700 | 894,724 | |
| Gtd. Notes | 8.750 | 03/15/32 | 706 | 1,064,777 | |
| Sprint Corp., | |||||
| Gtd. Notes(aa) | 7.625 | 02/15/25 | 1,925 | 2,308,276 | |
| Gtd. Notes(aa) | 7.875 | 09/15/23 | 1,000 | 1,163,675 | |
| T-Mobile USA, Inc., | |||||
| Gtd. Notes | 6.375 | 03/01/25 | 1,200 | 1,225,500 | |
| Gtd. Notes(aa) | 6.500 | 01/15/26 | 4,055 | 4,245,747 | |
| ViaSat, Inc., Sr. Unsec’d. Notes, 144A | 6.500 | 07/15/28 | 420 | 435,625 | |
| Windstream Escrow LLC/Windstream Escrow Finance Corp., Sr. Sec’d. Notes, 144A | 7.750 | 08/15/28 | 900 | 900,291 | |
| Zayo Group Holdings, Inc., Sr. Unsec’d. Notes, 144A(aa) | 6.125 | 03/01/28 | 1,500 | 1,548,900 | |
| 42,603,662 | |||||
| Transportation 0.9% | |||||
| XPO Logistics, Inc., | |||||
| Gtd. Notes, 144A | 6.125 | 09/01/23 | 200 | 203,366 | |
26
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Corporate Bonds (Continued) | |||||
| Transportation (cont’d.) | |||||
| XPO Logistics, Inc., (cont’d.) | |||||
| Gtd. Notes, 144A | 6.250 % | 05/01/25 | 180 | $192,641 | |
| Gtd. Notes, 144A(aa) | 6.500 | 06/15/22 | 1,405 | 1,408,272 | |
| Gtd. Notes, 144A(aa) | 6.750 | 08/15/24 | 2,800 | 2,971,018 | |
| 4,775,297 | |||||
| Total Corporate Bonds (cost $624,480,640) | 618,383,855 | ||||
| Shares | |||||
| Common Stocks 0.5% | |||||
| Electric Utilities 0.5% | |||||
| GenOn Energy Holdings, Inc. (Class A Stock)*^ | 9,187 | 1,745,530 | |||
| Keycon Power Holdings LLC*^ | 2,600 | 644,800 | |||
| 2,390,330 | |||||
| Entertainment 0.0% | |||||
| AMC Entertainment Holdings, Inc. (Class A Stock) | 18,750 | 110,250 | |||
| Oil, Gas & Consumable Fuels 0.0% | |||||
| Frontera Energy Corp. (Colombia) | 2,066 | 4,333 | |||
| Total Common Stocks (cost $1,016,791) | 2,504,913 | ||||
| Total Long-Term Investments (cost $693,339,856) | 686,229,154 | ||||
27
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
| Description | Shares | Value | |||
| Short-Term Investment 3.4% | |||||
| Affiliated Mutual Fund | |||||
| PGIM Core Ultra Short Bond Fund (cost $18,363,824)(w) | 18,363,824 | $18,363,824 | |||
| TOTAL INVESTMENTS 131.7% (cost $711,703,680) | 704,592,978 | ||||
| Liabilities in excess of other assets(z) (31.7)% | (169,623,779) | ||||
| Net Assets 100.0% | $534,969,199 | ||||
| Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: |
| 144A—Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, pursuant to the requirements of Rule 144A, may not be resold except to qualified institutional buyers. | |
| CDX—Credit Derivative Index | |
| DIP—Debtor-In-Possession | |
| LIBOR—London Interbank Offered Rate | |
| LP—Limited Partnership | |
| PIK—Payment-in-Kind | |
| Q—Quarterly payment frequency for swaps | |
| REITs—Real Estate Investment Trust |
| * | Non-income producing security. |
| # | Principal or notional amount is shown in U.S. dollars unless otherwise stated. |
| ^ | Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $4,548,768 and 0.9% of net assets. |
| (aa) | Represents security, or a portion thereof, with aggregate value of $408,684,007 segregated as collateral for amount of $180,000,000 borrowed and outstanding as of August 31, 2020. |
| (c) | Variable rate instrument. The interest rate shown reflects the rate in effect at August 31, 2020. |
| (d) | Represents issuer in default on interest payments and/or principal repayment. Non-income producing security. Such securities may be post-maturity. |
| (f) | Indicates a restricted security; the aggregate original cost of such securities is $15,016,335. The aggregate value of $9,450,832 is 1.8% of net assets. |
| (ff) | Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of period end. |
| (p) | Interest rate not available as of August 31, 2020. |
| (rr) | Perpetual security with no stated maturity date. |
| (w) | PGIM Investments LLC, the manager of the Fund, also serves as manager of the PGIM Core Ultra Short Bond Fund. |
| (z) | Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments: |
Unfunded loan commitment outstanding at August 31, 2020:
| Borrower | Principal Amount (000)# | Current Value | Unrealized Appreciation | Unrealized Depreciation | ||||
| Intelsat Jackson Holdings SA, SuperPriority Secured DIP Term Loan, 3 Month LIBOR + 5.500%, 6.500%, Maturity Date 7/14/2021 (cost $341,856) | 344 | $348,946 | $7,090 | $— |
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PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of August 31, 2020 (unaudited) (continued)
Credit default swap agreement outstanding at August 31, 2020:
| Reference Entity/ Obligation | Termination Date | Fixed Rate | Notional Amount (000)#(3) | Value at Trade Date | Value at August 31, 2020 | Unrealized Appreciation (Depreciation) | ||||||||
| Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1): | ||||||||||||||
| CDX.NA.HY.34.V8 | 06/20/25 | 5.000%(Q) | 56,237 | $2,948,680 | $(3,822,202) | $(6,770,882) | ||||||||
The Fund entered into credit default swaps (“CDS”) to provide a measure of protection against defaults or to take an active long or short position with respect to the likelihood of a particular issuer’s default or the reference entity’s credit soundness. CDS contracts generally trade based on a spread which represents the cost a protection buyer has to pay the protection seller. The protection buyer is said to be short the credit as the value of the contract rises the more the credit deteriorates. The value of the CDS contract increases for the protection buyer if the spread increases.
| (1) | If the Fund is a buyer of protection, it pays the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and make delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. |
| (2) | If the Fund is a seller of protection, it receives the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. |
| (3) | Notional amount represents the maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. |
| (4) | Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap agreements where the Fund is the seller of protection as of the reporting date serve as an indicator of the current status of the payment/ performance risk and represent the likelihood of risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include up-front payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement. |
Other information regarding the Fund is available in the Fund’s most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).
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