PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Long-Term Investments 124.0% | |||||
Asset-Backed Securities 9.0% | |||||
Collateralized Loan Obligations | |||||
Atlas Static Senior Loan Fund Ltd. (Cayman Islands), Series 2022-01A, Class A, 144A, 3 Month SOFR + 2.600% (Cap N/A, Floor 2.600%) | 7.586 %(c) | 07/15/30 | 4,123 | $4,131,405 | |
Battalion CLO Ltd. (Cayman Islands), Series 2015-08A, Class A1R2, 144A, 3 Month LIBOR + 1.070% (Cap N/A, Floor 1.070%) | 6.332(c) | 07/18/30 | 1,874 | 1,852,192 | |
BlueMountain CLO Ltd. (Cayman Islands), Series 2016-02A, Class A1R2, 144A, 3 Month LIBOR + 1.120% (Cap N/A, Floor 1.120%) | 6.035(c) | 08/20/32 | 3,000 | 2,949,086 | |
Carlyle Global Market Strategies CLO Ltd. (Cayman Islands), Series 2014-01A, Class A1R2, 144A, 3 Month LIBOR + 0.970% (Cap N/A, Floor 0.970%) | 6.230(c) | 04/17/31 | 2,991 | 2,953,574 | |
CIFC Funding Ltd. (Cayman Islands), Series 2018-02A, Class A1, 144A, 3 Month LIBOR + 1.040% (Cap N/A, Floor 0.000%) | 6.290(c) | 04/20/31 | 2,750 | 2,722,845 | |
Guggenheim CLO STAT Ltd. (Cayman Islands), Series 2022-01A, Class A1A, 144A, 3 Month SOFR + 2.590% (Cap N/A, Floor 2.590%) | 7.658(c) | 10/25/31 | 1,904 | 1,913,021 | |
KKR CLO Ltd. (Cayman Islands), Series 11, Class AR, 144A, 3 Month LIBOR + 1.180% (Cap N/A, Floor 1.180%) | 6.440(c) | 01/15/31 | 1,934 | 1,915,390 | |
KKR Static CLO Ltd. (Cayman Islands), Series 2022-02A, Class A1, 144A, 3 Month SOFR + 2.220% (Cap N/A, Floor 2.220%) | 6.738(c) | 10/20/31 | 2,000 | 1,994,943 | |
Madison Park Funding Ltd. (Cayman Islands), Series 2015-18A, Class ARR, 144A, 3 Month LIBOR + 0.940% (Cap N/A, Floor 0.940%) | 6.201(c) | 10/21/30 | 2,478 | 2,448,766 | |
OFSI BSL Ltd. (Cayman Islands), Series 2023-12A, Class A1, 144A, 3 Month SOFR + 2.400% (Cap N/A, Floor 2.400%) | 7.355(c) | 01/20/35 | 2,250 | 2,253,363 | |
Palmer Square Loan Funding Ltd. (Cayman Islands), Series 2022-03A, Class A1A, 144A, 3 Month SOFR + 1.820% (Cap N/A, Floor 1.820%) | 6.806(c) | 04/15/31 | 3,680 | 3,679,576 | |
Shackleton CLO Ltd. (Cayman Islands), Series 2017-11A, Class AR, 144A, 3 Month LIBOR + 1.090% (Cap N/A, Floor 0.000%) | 5.954(c) | 08/15/30 | 2,597 | 2,570,279 | |
Signal Peak CLO Ltd., Series 2018-05A, Class A, 144A, 3 Month LIBOR + 1.110% (Cap N/A, Floor 1.110%) | 6.365(c) | 04/25/31 | 2,650 | 2,623,633 |
1
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Asset-Backed Securities (Continued) | |||||
Collateralized Loan Obligations (cont’d.) | |||||
TSTAT Ltd. (Bermuda), Series 2022-02A, Class A1, 144A, 3 Month SOFR + 2.370% (Cap N/A, Floor 2.370%) | 6.883 %(c) | 01/20/31 | 2,250 | $2,246,838 | |
Voya CLO Ltd. (Cayman Islands), | |||||
Series 2013-02A, Class A1R, 144A, 3 Month SOFR + 1.232% (Cap N/A, Floor 0.970%) | 6.299(c) | 04/25/31 | 1,350 | 1,330,451 | |
Series 2015-03A, Class A1R, 144A, 3 Month SOFR + 1.452% (Cap N/A, Floor 1.452%) | 6.500(c) | 10/20/31 | 4,000 | 3,958,534 | |
Total Asset-Backed Securities (cost $41,341,300) | 41,543,896 | ||||
Convertible Bond 0.0% | |||||
Telecommunications | |||||
Digicel Group Holdings Ltd. (Jamaica), Sub. Notes, 144A, Cash coupon 7.000% or PIK N/A (original cost $5,338; purchased 03/21/23 - 04/03/23)(f) (cost $5,338) | 7.000 | 05/15/23(oo) | 36 | 3,985 | |
Corporate Bonds 107.8% | |||||
Advertising 0.4% | |||||
CMG Media Corp., Gtd. Notes, 144A(aa) | 8.875 | 12/15/27 | 2,565 | 1,988,086 | |
Aerospace & Defense 3.6% | |||||
Boeing Co. (The), | |||||
Sr. Unsec’d. Notes(aa) | 5.805 | 05/01/50 | 2,650 | 2,644,202 | |
Sr. Unsec’d. Notes | 5.930 | 05/01/60 | 750 | 741,336 | |
Bombardier, Inc. (Canada), | |||||
Sr. Unsec’d. Notes, 144A | 6.000 | 02/15/28 | 1,550 | 1,464,486 | |
Sr. Unsec’d. Notes, 144A | 7.125 | 06/15/26 | 875 | 868,438 | |
Sr. Unsec’d. Notes, 144A | 7.500 | 03/15/25 | 768 | 768,000 | |
Sr. Unsec’d. Notes, 144A | 7.500 | 02/01/29 | 1,350 | 1,324,688 | |
Sr. Unsec’d. Notes, 144A(aa) | 7.875 | 04/15/27 | 3,890 | 3,881,053 | |
Spirit AeroSystems, Inc., Sec’d. Notes, 144A | 7.500 | 04/15/25 | 900 | 895,208 |
2
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Aerospace & Defense (cont’d.) | |||||
TransDigm UK Holdings PLC, Gtd. Notes | 6.875 % | 05/15/26 | 200 | $200,750 | |
TransDigm, Inc., | |||||
Gtd. Notes | 4.625 | 01/15/29 | 600 | 543,222 | |
Gtd. Notes(aa) | 5.500 | 11/15/27 | 2,525 | 2,423,399 | |
Sr. Sec’d. Notes, 144A | 6.250 | 03/15/26 | 600 | 602,876 | |
16,357,658 | |||||
Agriculture 0.3% | |||||
Vector Group Ltd., Sr. Sec’d. Notes, 144A | 5.750 | 02/01/29 | 1,350 | 1,208,537 | |
Airlines 1.4% | |||||
American Airlines, Inc., | |||||
Sr. Sec’d. Notes, 144A | 7.250 | 02/15/28 | 350 | 340,353 | |
Sr. Sec’d. Notes, 144A | 11.750 | 07/15/25 | 725 | 798,494 | |
American Airlines, Inc./AAdvantage Loyalty IP Ltd., | |||||
Sr. Sec’d. Notes, 144A(aa) | 5.500 | 04/20/26 | 1,450 | 1,424,625 | |
Sr. Sec’d. Notes, 144A | 5.750 | 04/20/29 | 1,425 | 1,350,187 | |
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., Sr. Sec’d. Notes, 144A | 5.750 | 01/20/26 | 675 | 628,918 | |
United Airlines, Inc., | |||||
Sr. Sec’d. Notes, 144A | 4.375 | 04/15/26 | 1,080 | 1,031,327 | |
Sr. Sec’d. Notes, 144A | 4.625 | 04/15/29 | 830 | 751,150 | |
6,325,054 | |||||
Apparel 0.5% | |||||
Hanesbrands, Inc., Gtd. Notes, 144A | 4.875 | 05/15/26 | 500 | 471,710 | |
Kontoor Brands, Inc., Gtd. Notes, 144A | 4.125 | 11/15/29 | 275 | 233,628 | |
Wolverine World Wide, Inc., Gtd. Notes, 144A | 4.000 | 08/15/29 | 1,825 | 1,516,146 | |
2,221,484 |
3
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Auto Manufacturers 2.1% | |||||
Ford Motor Co., | |||||
Sr. Unsec’d. Notes | 3.250 % | 02/12/32 | 725 | $560,567 | |
Sr. Unsec’d. Notes(aa) | 4.750 | 01/15/43 | 3,925 | 2,951,796 | |
Sr. Unsec’d. Notes | 5.291 | 12/08/46 | 2,200 | 1,775,184 | |
Sr. Unsec’d. Notes | 7.400 | 11/01/46 | 200 | 203,549 | |
Ford Motor Credit Co. LLC, | |||||
Sr. Unsec’d. Notes | 4.000 | 11/13/30 | 400 | 342,880 | |
Sr. Unsec’d. Notes | 5.584 | 03/18/24 | 310 | 307,898 | |
Sr. Unsec’d. Notes | 6.800 | 05/12/28 | 200 | 200,159 | |
Sr. Unsec’d. Notes | 6.950 | 03/06/26 | 375 | 377,720 | |
Jaguar Land Rover Automotive PLC (United Kingdom), Gtd. Notes, 144A | 7.750 | 10/15/25 | 1,000 | 990,000 | |
Nissan Motor Co. Ltd. (Japan), Sr. Unsec’d. Notes, 144A | 4.810 | 09/17/30 | 650 | 570,595 | |
PM General Purchaser LLC, Sr. Sec’d. Notes, 144A | 9.500 | 10/01/28 | 1,325 | 1,255,727 | |
9,536,075 | |||||
Auto Parts & Equipment 1.2% | |||||
Adient Global Holdings Ltd., | |||||
Gtd. Notes, 144A | 4.875 | 08/15/26 | 1,161 | 1,116,011 | |
Sr. Sec’d. Notes, 144A | 7.000 | 04/15/28 | 400 | 409,000 | |
American Axle & Manufacturing, Inc., | |||||
Gtd. Notes | 6.250 | 03/15/26 | 271 | 260,255 | |
Gtd. Notes(aa) | 6.500 | 04/01/27 | 1,231 | 1,140,092 | |
Dana Financing Luxembourg Sarl, Gtd. Notes, 144A | 5.750 | 04/15/25 | 500 | 492,500 | |
Dana, Inc., | |||||
Sr. Unsec’d. Notes | 4.250 | 09/01/30 | 250 | 203,182 | |
Sr. Unsec’d. Notes | 4.500 | 02/15/32 | 600 | 480,993 | |
Sr. Unsec’d. Notes | 5.375 | 11/15/27 | 200 | 188,177 | |
Sr. Unsec’d. Notes | 5.625 | 06/15/28 | 600 | 554,610 | |
Titan International, Inc., Sr. Sec’d. Notes | 7.000 | 04/30/28 | 950 | 850,559 | |
5,695,379 |
4
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Banks 1.1% | |||||
Citigroup, Inc., Jr. Sub. Notes | 3.875 %(ff) | 02/18/26(oo) | 625 | $532,791 | |
Freedom Mortgage Corp., Sr. Unsec’d. Notes, 144A | 7.625 | 05/01/26 | 550 | 470,309 | |
Intesa Sanpaolo SpA (Italy), Sub. Notes, 144A | 4.198(ff) | 06/01/32 | 2,200 | 1,649,098 | |
Popular, Inc. (Puerto Rico), Sr. Unsec’d. Notes | 6.125 | 09/14/23 | 2,425 | 2,418,937 | |
5,071,135 | |||||
Building Materials 2.1% | |||||
Camelot Return Merger Sub, Inc., Sr. Sec’d. Notes, 144A | 8.750 | 08/01/28 | 650 | 615,691 | |
Cornerstone Building Brands, Inc., Gtd. Notes, 144A(aa) | 6.125 | 01/15/29 | 1,100 | 835,829 | |
Eco Material Technologies, Inc., Sr. Sec’d. Notes, 144A | 7.875 | 01/31/27 | 600 | 575,542 | |
Griffon Corp., Gtd. Notes | 5.750 | 03/01/28 | 630 | 578,667 | |
JELD-WEN, Inc., Gtd. Notes, 144A | 4.625 | 12/15/25 | 926 | 893,190 | |
Knife River Holding Co., Sr. Unsec’d. Notes, 144A | 7.750 | 05/01/31 | 300 | 304,082 | |
Masonite International Corp., | |||||
Gtd. Notes, 144A | 3.500 | 02/15/30 | 675 | 573,750 | |
Gtd. Notes, 144A | 5.375 | 02/01/28 | 180 | 172,800 | |
MIWD Holdco II LLC/MIWD Finance Corp., Gtd. Notes, 144A | 5.500 | 02/01/30 | 952 | 804,685 | |
Smyrna Ready Mix Concrete LLC, Sr. Sec’d. Notes, 144A | 6.000 | 11/01/28 | 1,348 | 1,262,173 | |
Standard Industries, Inc., | |||||
Sr. Unsec’d. Notes, 144A | 3.375 | 01/15/31 | 475 | 376,397 | |
Sr. Unsec’d. Notes, 144A(aa) | 4.375 | 07/15/30 | 1,375 | 1,184,836 | |
Sr. Unsec’d. Notes, 144A(aa) | 4.750 | 01/15/28 | 1,475 | 1,375,607 | |
Sr. Unsec’d. Notes, 144A | 5.000 | 02/15/27 | 320 | 306,392 | |
9,859,641 |
5
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Chemicals 3.6% | |||||
Ashland LLC, Gtd. Notes(aa) | 6.875 % | 05/15/43 | 2,125 | $2,128,692 | |
ASP Unifrax Holdings, Inc., | |||||
Sr. Sec’d. Notes, 144A | 5.250 | 09/30/28 | 325 | 267,821 | |
Sr. Unsec’d. Notes, 144A | 7.500 | 09/30/29 | 225 | 162,758 | |
Avient Corp., Sr. Unsec’d. Notes, 144A | 5.750 | 05/15/25 | 870 | 868,924 | |
Chemours Co. (The), | |||||
Gtd. Notes, 144A | 4.625 | 11/15/29 | 800 | 658,876 | |
Gtd. Notes, 144A | 5.750 | 11/15/28 | 620 | 550,896 | |
Cornerstone Chemical Co., Sr. Sec’d. Notes, 144A, Cash coupon 8.250% and PIK 2.000% | 10.250 | 09/01/27 | 1,820 | 1,624,298 | |
Diamond BC BV, Gtd. Notes, 144A | 4.625 | 10/01/29 | 975 | 957,937 | |
Iris Holding, Inc., Sr. Unsec’d. Notes, 144A | 10.000 | 12/15/28 | 1,100 | 870,824 | |
NOVA Chemicals Corp. (Canada), Sr. Unsec’d. Notes, 144A(aa) | 4.875 | 06/01/24 | 1,315 | 1,293,631 | |
Olympus Water US Holding Corp., Sr. Sec’d. Notes, 144A | 4.250 | 10/01/28 | 625 | 531,942 | |
Rain CII Carbon LLC/CII Carbon Corp., Sec’d. Notes, 144A | 7.250 | 04/01/25 | 1,590 | 1,543,817 | |
SK Invictus Intermediate II Sarl, Sr. Sec’d. Notes, 144A | 5.000 | 10/30/29 | 820 | 696,196 | |
SPCM SA (France), Sr. Unsec’d. Notes, 144A | 3.375 | 03/15/30 | 450 | 369,824 | |
TPC Group, Inc., Sr. Sec’d. Notes, 144A | 13.000 | 12/16/27 | 884 | 886,547 | |
Tronox, Inc., Gtd. Notes, 144A | 4.625 | 03/15/29 | 1,565 | 1,299,853 | |
Valvoline, Inc., Sr. Unsec’d. Notes, 144A | 3.625 | 06/15/31 | 525 | 436,107 | |
Venator Finance Sarl/Venator Materials LLC, | |||||
Gtd. Notes, 144A (original cost $2,173,860; purchased 03/08/19 - 07/14/21)(f) | 5.750 | 07/15/25 | 2,327 | 325,780 | |
Sr. Sec’d. Notes, 144A (original cost $1,082,538; purchased 05/08/20 - 03/02/21)(f) | 9.500 | 07/01/25 | 1,040 | 660,400 |
6
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Chemicals (cont’d.) | |||||
WR Grace Holdings LLC, Sr. Sec’d. Notes, 144A | 7.375 % | 03/01/31 | 175 | $175,409 | |
16,310,532 | |||||
Coal 0.2% | |||||
Conuma Resources Ltd. (Canada), Sr. Sec’d. Notes, 144A | 13.125 | 05/01/28 | 700 | 681,625 | |
Coronado Finance Pty Ltd. (Australia), Sr. Sec’d. Notes, 144A | 10.750 | 05/15/26 | 400 | 411,772 | |
1,093,397 | |||||
Commercial Services 6.5% | |||||
Adtalem Global Education, Inc., Sr. Sec’d. Notes, 144A | 5.500 | 03/01/28 | 409 | 389,485 | |
Allied Universal Holdco LLC/Allied Universal Finance Corp., | |||||
Sr. Sec’d. Notes, 144A | 6.625 | 07/15/26 | 430 | 414,416 | |
Sr. Unsec’d. Notes, 144A | 6.000 | 06/01/29 | 1,150 | 894,945 | |
Sr. Unsec’d. Notes, 144A(aa) | 9.750 | 07/15/27 | 3,875 | 3,602,868 | |
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, | |||||
Sr. Sec’d. Notes, 144A | 4.625 | 06/01/28 | 860 | 746,050 | |
Sr. Sec’d. Notes, 144A | 4.625 | 06/01/28 | 1,315 | 1,140,763 | |
Alta Equipment Group, Inc., Sec’d. Notes, 144A | 5.625 | 04/15/26 | 500 | 464,379 | |
AMN Healthcare, Inc., | |||||
Gtd. Notes, 144A | 4.000 | 04/15/29 | 825 | 727,301 | |
Gtd. Notes, 144A | 4.625 | 10/01/27 | 400 | 374,297 | |
APi Group DE, Inc., Gtd. Notes, 144A | 4.750 | 10/15/29 | 325 | 294,396 | |
Avis Budget Car Rental LLC/Avis Budget Finance, Inc., Gtd. Notes, 144A(aa) | 4.750 | 04/01/28 | 1,295 | 1,162,649 | |
Avis Budget Finance PLC, Gtd. Notes | 4.750 | 01/30/26 | EUR | 275 | 294,490 |
Brink’s Co. (The), | |||||
Gtd. Notes, 144A | 4.625 | 10/15/27 | 375 | 354,750 | |
Gtd. Notes, 144A(aa) | 5.500 | 07/15/25 | 200 | 198,490 | |
7
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Commercial Services (cont’d.) | |||||
Carriage Services, Inc., Gtd. Notes, 144A | 4.250 % | 05/15/29 | 200 | $167,563 | |
Gartner, Inc., | |||||
Gtd. Notes, 144A | 3.625 | 06/15/29 | 425 | 376,556 | |
Gtd. Notes, 144A | 3.750 | 10/01/30 | 325 | 283,826 | |
Herc Holdings, Inc., Gtd. Notes, 144A | 5.500 | 07/15/27 | 441 | 421,140 | |
Hertz Corp. (The), | |||||
Gtd. Notes, 144A | 4.625 | 12/01/26 | 475 | 427,706 | |
Gtd. Notes, 144A | 5.000 | 12/01/29 | 525 | 429,334 | |
Metis Merger Sub LLC, Sr. Unsec’d. Notes, 144A(aa) | 6.500 | 05/15/29 | 2,750 | 2,340,530 | |
MPH Acquisition Holdings LLC, Sr. Sec’d. Notes, 144A | 5.500 | 09/01/28 | 2,075 | 1,587,326 | |
NESCO Holdings II, Inc., Sec’d. Notes, 144A | 5.500 | 04/15/29 | 900 | 812,765 | |
Service Corp. International, Sr. Unsec’d. Notes | 4.000 | 05/15/31 | 1,050 | 924,091 | |
United Rentals North America, Inc., | |||||
Gtd. Notes | 3.750 | 01/15/32 | 575 | 493,292 | |
Gtd. Notes | 4.000 | 07/15/30 | 150 | 134,222 | |
Gtd. Notes(aa) | 4.875 | 01/15/28 | 5,720 | 5,508,131 | |
Verscend Escrow Corp., Sr. Unsec’d. Notes, 144A(aa) | 9.750 | 08/15/26 | 4,825 | 4,864,621 | |
29,830,382 | |||||
Computers 0.8% | |||||
CA Magnum Holdings (India), Sr. Sec’d. Notes, 144A | 5.375 | 10/31/26 | 225 | 197,269 | |
McAfee Corp., Sr. Unsec’d. Notes, 144A(aa) | 7.375 | 02/15/30 | 1,130 | 939,287 | |
NCR Corp., | |||||
Gtd. Notes, 144A | 5.000 | 10/01/28 | 550 | 479,891 | |
Gtd. Notes, 144A | 5.125 | 04/15/29 | 425 | 367,672 | |
Gtd. Notes, 144A | 5.250 | 10/01/30 | 350 | 293,658 | |
Gtd. Notes, 144A(aa) | 5.750 | 09/01/27 | 1,000 | 978,747 |
8
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Computers (cont’d.) | |||||
Tempo Acquisition LLC/Tempo Acquisition Finance Corp., Sr. Sec’d. Notes, 144A | 5.750 % | 06/01/25 | 375 | $376,883 | |
3,633,407 | |||||
Distribution/Wholesale 0.6% | |||||
H&E Equipment Services, Inc., Gtd. Notes, 144A | 3.875 | 12/15/28 | 2,250 | 1,943,858 | |
Ritchie Bros Holdings, Inc. (Canada), | |||||
Gtd. Notes, 144A | 7.750 | 03/15/31 | 450 | 477,000 | |
Sr. Sec’d. Notes, 144A | 6.750 | 03/15/28 | 150 | 155,250 | |
2,576,108 | |||||
Diversified Financial Services 4.1% | |||||
Bread Financial Holdings, Inc., Gtd. Notes, 144A | 4.750 | 12/15/24 | 1,075 | 962,143 | |
goeasy Ltd. (Canada), Gtd. Notes, 144A | 4.375 | 05/01/26 | 525 | 459,375 | |
Jefferies Finance LLC/JFIN Co-Issuer Corp., Sr. Unsec’d. Notes, 144A | 5.000 | 08/15/28 | 1,525 | 1,287,089 | |
LD Holdings Group LLC, Gtd. Notes, 144A | 6.125 | 04/01/28 | 1,025 | 564,408 | |
LFS Topco LLC, Gtd. Notes, 144A | 5.875 | 10/15/26 | 875 | 767,783 | |
LPL Holdings, Inc., | |||||
Gtd. Notes, 144A | 4.000 | 03/15/29 | 300 | 269,373 | |
Gtd. Notes, 144A | 4.375 | 05/15/31 | 100 | 88,616 | |
Nationstar Mortgage Holdings, Inc., | |||||
Gtd. Notes, 144A | 5.125 | 12/15/30 | 1,075 | 880,728 | |
Gtd. Notes, 144A(aa) | 5.500 | 08/15/28 | 2,420 | 2,159,528 | |
Gtd. Notes, 144A(aa) | 6.000 | 01/15/27 | 1,725 | 1,631,188 | |
Navient Corp., Sr. Unsec’d. Notes | 5.500 | 03/15/29 | 1,800 | 1,549,634 | |
OneMain Finance Corp., | |||||
Gtd. Notes | 3.875 | 09/15/28 | 350 | 282,108 | |
Gtd. Notes | 6.875 | 03/15/25 | 125 | 122,187 | |
Gtd. Notes(aa) | 7.125 | 03/15/26 | 3,748 | 3,650,523 |
9
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Diversified Financial Services (cont’d.) | |||||
PennyMac Financial Services, Inc., | |||||
Gtd. Notes, 144A | 4.250 % | 02/15/29 | 575 | $472,938 | |
Gtd. Notes, 144A | 5.375 | 10/15/25 | 800 | 754,926 | |
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., | |||||
Gtd. Notes, 144A | 3.625 | 03/01/29 | 200 | 169,023 | |
Gtd. Notes, 144A | 3.875 | 03/01/31 | 50 | 40,433 | |
Gtd. Notes, 144A | 4.000 | 10/15/33 | 1,175 | 919,490 | |
VistaJet Malta Finance PLC/XO Management Holding, Inc. (Switzerland), | |||||
Sr. Unsec’d. Notes, 144A | 6.375 | 02/01/30 | 750 | 646,875 | |
Sr. Unsec’d. Notes, 144A | 7.875 | 05/01/27 | 1,100 | 1,045,000 | |
18,723,368 | |||||
Electric 6.1% | |||||
Calpine Corp., | |||||
Sr. Sec’d. Notes, 144A | 4.500 | 02/15/28 | 500 | 465,740 | |
Sr. Unsec’d. Notes, 144A | 4.625 | 02/01/29 | 2,025 | 1,755,679 | |
Sr. Unsec’d. Notes, 144A | 5.000 | 02/01/31 | 1,975 | 1,662,934 | |
Sr. Unsec’d. Notes, 144A(aa) | 5.125 | 03/15/28 | 5,950 | 5,512,561 | |
Keystone Power Pass-Through Holders LLC/Conemaugh Power Pass-Through Holders, Sub. Notes, 144A, Cash coupon 13.000% or PIK N/A | 13.000 | 06/01/24 | 238 | 154,560 | |
NRG Energy, Inc., | |||||
Gtd. Notes(aa) | 5.750 | 01/15/28 | 2,975 | 2,902,426 | |
Gtd. Notes, 144A | 3.375 | 02/15/29 | 200 | 169,493 | |
Gtd. Notes, 144A | 3.625 | 02/15/31 | 700 | 566,417 | |
Gtd. Notes, 144A | 3.875 | 02/15/32 | 500 | 403,621 | |
Gtd. Notes, 144A | 5.250 | 06/15/29 | 775 | 715,603 | |
Jr. Sub. Notes, 144A | 10.250(ff) | 03/15/28(oo) | 1,050 | 1,035,501 | |
PG&E Corp., | |||||
Sr. Sec’d. Notes(aa) | 5.000 | 07/01/28 | 1,625 | 1,531,825 | |
Sr. Sec’d. Notes(aa) | 5.250 | 07/01/30 | 1,885 | 1,737,880 | |
Vistra Corp., | |||||
Jr. Sub. Notes, 144A | 7.000(ff) | 12/15/26(oo) | 125 | 112,307 | |
Jr. Sub. Notes, 144A | 8.000(ff) | 10/15/26(oo) | 400 | 377,355 | |
Vistra Operations Co. LLC, | |||||
Gtd. Notes, 144A | 4.375 | 05/01/29 | 500 | 447,449 |
10
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Electric (cont’d.) | |||||
Vistra Operations Co. LLC, (cont’d.) | |||||
Gtd. Notes, 144A(aa) | 5.000 % | 07/31/27 | 1,100 | $1,045,549 | |
Gtd. Notes, 144A(aa) | 5.625 | 02/15/27 | 7,400 | 7,216,062 | |
27,812,962 | |||||
Electrical Components & Equipment 0.6% | |||||
Energizer Gamma Acquisition BV, Gtd. Notes | 3.500 | 06/30/29 | EUR | 100 | 86,607 |
Energizer Holdings, Inc., | |||||
Gtd. Notes, 144A | 4.375 | 03/31/29 | 750 | 654,304 | |
Gtd. Notes, 144A | 4.750 | 06/15/28 | 350 | 315,040 | |
WESCO Distribution, Inc., | |||||
Gtd. Notes, 144A | 7.125 | 06/15/25 | 600 | 610,036 | |
Gtd. Notes, 144A(aa) | 7.250 | 06/15/28 | 1,130 | 1,161,362 | |
2,827,349 | |||||
Electronics 0.3% | |||||
Likewize Corp., Sr. Sec’d. Notes, 144A | 9.750 | 10/15/25 | 1,515 | 1,364,586 | |
Sensata Technologies, Inc., Gtd. Notes, 144A | 3.750 | 02/15/31 | 260 | 225,901 | |
1,590,487 | |||||
Engineering & Construction 0.3% | |||||
AECOM, Gtd. Notes | 5.125 | 03/15/27 | 380 | 371,952 | |
TopBuild Corp., | |||||
Gtd. Notes, 144A | 3.625 | 03/15/29 | 500 | 435,921 | |
Gtd. Notes, 144A | 4.125 | 02/15/32 | 425 | 366,188 | |
1,174,061 | |||||
Entertainment 3.7% | |||||
AMC Entertainment Holdings, Inc., Sec’d. Notes, 144A, Cash coupon 10.000% or PIK 12.000% or Cash coupon 5.000% and PIK 6.000% | 10.000 | 06/15/26 | 458 | 309,751 | |
Caesars Entertainment, Inc., | |||||
Sr. Sec’d. Notes, 144A | 6.250 | 07/01/25 | 2,035 | 2,037,803 |
11
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Entertainment (cont’d.) | |||||
Caesars Entertainment, Inc., (cont’d.) | |||||
Sr. Sec’d. Notes, 144A | 7.000 % | 02/15/30 | 1,575 | $1,590,220 | |
Sr. Unsec’d. Notes, 144A | 4.625 | 10/15/29 | 275 | 240,948 | |
CCM Merger, Inc., Sr. Unsec’d. Notes, 144A | 6.375 | 05/01/26 | 275 | 268,288 | |
Churchill Downs, Inc., Gtd. Notes, 144A | 6.750 | 05/01/31 | 550 | 553,915 | |
Everi Holdings, Inc., Gtd. Notes, 144A | 5.000 | 07/15/29 | 100 | 89,130 | |
Golden Entertainment, Inc., Sr. Unsec’d. Notes, 144A(aa) | 7.625 | 04/15/26 | 2,100 | 2,123,693 | |
International Game Technology PLC, | |||||
Sr. Sec’d. Notes, 144A | 4.125 | 04/15/26 | 500 | 480,000 | |
Sr. Sec’d. Notes, 144A | 6.250 | 01/15/27 | 350 | 354,813 | |
Sr. Sec’d. Notes, 144A | 6.500 | 02/15/25 | 860 | 870,655 | |
Jacobs Entertainment, Inc., | |||||
Sr. Unsec’d. Notes, 144A | 6.750 | 02/15/29 | 525 | 457,211 | |
Sr. Unsec’d. Notes, 144A | 6.750 | 02/15/29 | 250 | 214,995 | |
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp., Sr. Sec’d. Notes, 144A | 4.875 | 05/01/29 | 825 | 741,311 | |
Motion Bondco DAC (United Kingdom), Gtd. Notes, 144A | 6.625 | 11/15/27 | 869 | 784,273 | |
Penn Entertainment, Inc., | |||||
Sr. Unsec’d. Notes, 144A | 4.125 | 07/01/29 | 675 | 571,443 | |
Sr. Unsec’d. Notes, 144A | 5.625 | 01/15/27 | 2,080 | 1,978,633 | |
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp., Gtd. Notes, 144A | 5.875 | 09/01/31 | 1,225 | 867,050 | |
Scientific Games Holdings LP/Scientific Games US FinCo, Inc., Sr. Unsec’d. Notes, 144A | 6.625 | 03/01/30 | 825 | 731,773 | |
Scientific Games International, Inc., Gtd. Notes, 144A | 8.625 | 07/01/25 | 700 | 715,991 | |
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., Gtd. Notes, 144A(aa) | 5.125 | 10/01/29 | 1,110 | 1,022,861 | |
17,004,757 |
12
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Environmental Control 0.5% | |||||
Clean Harbors, Inc., Gtd. Notes, 144A | 6.375 % | 02/01/31 | 125 | $127,611 | |
Covanta Holding Corp., Gtd. Notes, 144A | 4.875 | 12/01/29 | 350 | 311,544 | |
GFL Environmental, Inc. (Canada), | |||||
Gtd. Notes, 144A | 4.000 | 08/01/28 | 275 | 250,448 | |
Gtd. Notes, 144A | 4.375 | 08/15/29 | 1,625 | 1,467,830 | |
Gtd. Notes, 144A | 4.750 | 06/15/29 | 50 | 46,406 | |
2,203,839 | |||||
Foods 3.9% | |||||
Albertson’s Cos., Inc./Safeway, Inc./New Albertson’s LP/Albertson’s LLC, | |||||
Gtd. Notes, 144A | 3.500 | 03/15/29 | 1,060 | 939,701 | |
Gtd. Notes, 144A | 4.875 | 02/15/30 | 250 | 233,924 | |
Gtd. Notes, 144A | 6.500 | 02/15/28 | 300 | 304,888 | |
B&G Foods, Inc., Gtd. Notes(aa) | 5.250 | 09/15/27 | 2,700 | 2,359,388 | |
C&S Group Enterprises LLC, Gtd. Notes, 144A | 5.000 | 12/15/28 | 875 | 690,606 | |
Chobani LLC/Chobani Finance Corp., Inc., | |||||
Gtd. Notes, 144A(aa) | 7.500 | 04/15/25 | 1,150 | 1,129,947 | |
Sr. Sec’d. Notes, 144A | 4.625 | 11/15/28 | 50 | 46,236 | |
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc., | |||||
Gtd. Notes, 144A | 3.750 | 12/01/31 | 525 | 436,538 | |
Sr. Unsec’d. Notes, 144A | 5.500 | 01/15/30 | 900 | 858,010 | |
Kraft Heinz Foods Co., | |||||
Gtd. Notes(aa) | 4.375 | 06/01/46 | 1,775 | 1,549,310 | |
Gtd. Notes | 5.000 | 07/15/35 | 235 | 236,120 | |
Gtd. Notes | 5.200 | 07/15/45 | 300 | 290,681 | |
Gtd. Notes | 5.500 | 06/01/50 | 1,125 | 1,133,739 | |
Lamb Weston Holdings, Inc., | |||||
Gtd. Notes, 144A | 4.125 | 01/31/30 | 225 | 206,038 | |
Gtd. Notes, 144A | 4.375 | 01/31/32 | 700 | 639,824 | |
Market Bidco Finco PLC (United Kingdom), Sr. Sec’d. Notes, 144A | 5.500 | 11/04/27 | GBP | 250 | 235,483 |
Pilgrim’s Pride Corp., | |||||
Gtd. Notes | 3.500 | 03/01/32 | 375 | 302,298 |
13
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Foods (cont’d.) | |||||
Pilgrim’s Pride Corp., (cont’d.) | |||||
Gtd. Notes, 144A(aa) | 5.875 % | 09/30/27 | 3,800 | $3,780,174 | |
Post Holdings, Inc., | |||||
Gtd. Notes, 144A | 4.625 | 04/15/30 | 1,075 | 970,524 | |
Gtd. Notes, 144A | 5.500 | 12/15/29 | 425 | 404,364 | |
Sr. Unsec’d. Notes, 144A | 4.500 | 09/15/31 | 1,400 | 1,225,087 | |
17,972,880 | |||||
Gas 0.5% | |||||
AmeriGas Partners LP/AmeriGas Finance Corp., | |||||
Sr. Unsec’d. Notes | 5.500 | 05/20/25 | 25 | 24,313 | |
Sr. Unsec’d. Notes | 5.625 | 05/20/24 | 125 | 124,254 | |
Sr. Unsec’d. Notes(aa) | 5.750 | 05/20/27 | 2,050 | 1,946,732 | |
Sr. Unsec’d. Notes | 5.875 | 08/20/26 | 325 | 313,706 | |
2,409,005 | |||||
Healthcare-Products 1.2% | |||||
Embecta Corp., | |||||
Sr. Sec’d. Notes, 144A | 5.000 | 02/15/30 | 925 | 797,863 | |
Sr. Sec’d. Notes, 144A | 6.750 | 02/15/30 | 225 | 204,094 | |
Medline Borrower LP, | |||||
Sr. Sec’d. Notes, 144A(aa) | 3.875 | 04/01/29 | 2,525 | 2,208,848 | |
Sr. Unsec’d. Notes, 144A | 5.250 | 10/01/29 | 2,900 | 2,508,172 | |
5,718,977 | |||||
Healthcare-Services 3.7% | |||||
DaVita, Inc., | |||||
Gtd. Notes, 144A | 3.750 | 02/15/31 | 1,725 | 1,382,619 | |
Gtd. Notes, 144A(aa) | 4.625 | 06/01/30 | 2,925 | 2,549,112 | |
Legacy LifePoint Health LLC, Sr. Sec’d. Notes, 144A | 4.375 | 02/15/27 | 800 | 681,006 | |
LifePoint Health, Inc., Gtd. Notes, 144A | 5.375 | 01/15/29 | 925 | 579,134 | |
Prime Healthcare Services, Inc., Sr. Sec’d. Notes, 144A | 7.250 | 11/01/25 | 1,800 | 1,625,697 |
14
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Healthcare-Services (cont’d.) | |||||
RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc., Gtd. Notes, 144A(aa) | 9.750 % | 12/01/26 | 3,400 | $2,828,876 | |
Tenet Healthcare Corp., | |||||
Sr. Sec’d. Notes(aa) | 4.250 | 06/01/29 | 1,925 | 1,765,678 | |
Sr. Sec’d. Notes | 4.375 | 01/15/30 | 3,825 | 3,519,466 | |
Sr. Unsec’d. Notes(aa) | 6.875 | 11/15/31 | 2,025 | 1,990,591 | |
16,922,179 | |||||
Holding Companies-Diversified 0.1% | |||||
Benteler International AG (Austria), Sr. Sec’d. Notes, 144A | 10.500 | 05/15/28 | 400 | 409,000 | |
Home Builders 5.8% | |||||
Ashton Woods USA LLC/Ashton Woods Finance Co., | |||||
Sr. Unsec’d. Notes, 144A | 4.625 | 08/01/29 | 825 | 687,938 | |
Sr. Unsec’d. Notes, 144A | 4.625 | 04/01/30 | 625 | 516,971 | |
Beazer Homes USA, Inc., | |||||
Gtd. Notes | 5.875 | 10/15/27 | 1,200 | 1,115,177 | |
Gtd. Notes(aa) | 7.250 | 10/15/29 | 2,750 | 2,628,764 | |
Brookfield Residential Properties, Inc./Brookfield Residential US LLC (Canada), | |||||
Gtd. Notes, 144A | 4.875 | 02/15/30 | 1,875 | 1,476,562 | |
Gtd. Notes, 144A | 6.250 | 09/15/27 | 40 | 36,650 | |
Sr. Unsec’d. Notes, 144A | 5.000 | 06/15/29 | 400 | 320,000 | |
Century Communities, Inc., | |||||
Gtd. Notes(aa) | 6.750 | 06/01/27 | 1,725 | 1,734,166 | |
Gtd. Notes, 144A | 3.875 | 08/15/29 | 150 | 131,383 | |
Empire Communities Corp. (Canada), Sr. Unsec’d. Notes, 144A | 7.000 | 12/15/25 | 275 | 250,938 | |
Forestar Group, Inc., | |||||
Gtd. Notes, 144A | 3.850 | 05/15/26 | 450 | 416,050 | |
Gtd. Notes, 144A(aa) | 5.000 | 03/01/28 | 1,200 | 1,091,663 | |
KB Home, | |||||
Gtd. Notes | 4.000 | 06/15/31 | 500 | 433,873 | |
Gtd. Notes | 4.800 | 11/15/29 | 1,000 | 936,783 | |
Gtd. Notes | 6.875 | 06/15/27 | 1,225 | 1,261,135 | |
15
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Home Builders (cont’d.) | |||||
Lennar Corp., Gtd. Notes(aa) | 5.000 % | 06/15/27 | 1,250 | $1,249,250 | |
M/I Homes, Inc., | |||||
Gtd. Notes | 3.950 | 02/15/30 | 375 | 331,590 | |
Gtd. Notes | 4.950 | 02/01/28 | 725 | 682,263 | |
Mattamy Group Corp. (Canada), | |||||
Sr. Unsec’d. Notes, 144A(aa) | 4.625 | 03/01/30 | 1,158 | 1,012,578 | |
Sr. Unsec’d. Notes, 144A(aa) | 5.250 | 12/15/27 | 1,075 | 994,375 | |
Meritage Homes Corp., Gtd. Notes | 5.125 | 06/06/27 | 1,775 | 1,745,420 | |
Shea Homes LP/Shea Homes Funding Corp., | |||||
Sr. Unsec’d. Notes | 4.750 | 02/15/28 | 1,293 | 1,182,747 | |
Sr. Unsec’d. Notes | 4.750 | 04/01/29 | 475 | 423,367 | |
STL Holding Co. LLC, Sr. Unsec’d. Notes, 144A | 7.500 | 02/15/26 | 925 | 818,570 | |
Taylor Morrison Communities, Inc., | |||||
Gtd. Notes, 144A | 5.750 | 01/15/28 | 450 | 446,525 | |
Gtd. Notes, 144A | 5.875 | 06/15/27 | 250 | 249,435 | |
Sr. Unsec’d. Notes, 144A | 5.125 | 08/01/30 | 1,480 | 1,392,324 | |
Taylor Morrison Communities, Inc./Taylor Morrison Holdings II, Inc., Gtd. Notes, 144A | 5.625 | 03/01/24 | 1,523 | 1,507,770 | |
Tri Pointe Homes, Inc., Gtd. Notes | 5.700 | 06/15/28 | 1,555 | 1,525,788 | |
26,600,055 | |||||
Home Furnishings 0.0% | |||||
Tempur Sealy International, Inc., Gtd. Notes, 144A | 4.000 | 04/15/29 | 200 | 174,861 | |
Household Products/Wares 0.4% | |||||
ACCO Brands Corp., Gtd. Notes, 144A | 4.250 | 03/15/29 | 1,075 | 905,932 | |
Central Garden & Pet Co., Gtd. Notes, 144A | 4.125 | 04/30/31 | 100 | 84,142 | |
Kronos Acquisition Holdings, Inc./KIK Custom Products, Inc. (Canada), | |||||
Gtd. Notes, 144A | 7.000 | 12/31/27 | 800 | 701,482 |
16
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Household Products/Wares (cont’d.) | |||||
Kronos Acquisition Holdings, Inc./KIK Custom Products, Inc. (Canada), (cont’d.) | |||||
Sr. Sec’d. Notes, 144A | 5.000 % | 12/31/26 | 175 | $161,875 | |
Spectrum Brands, Inc., Gtd. Notes, 144A | 3.875 | 03/15/31 | 200 | 164,082 | |
2,017,513 | |||||
Housewares 0.6% | |||||
Scotts Miracle-Gro Co. (The), | |||||
Gtd. Notes | 4.000 | 04/01/31 | 1,500 | 1,213,792 | |
Gtd. Notes | 4.375 | 02/01/32 | 725 | 588,282 | |
SWF Escrow Issuer Corp., Sr. Unsec’d. Notes, 144A(aa) | 6.500 | 10/01/29 | 1,675 | 1,022,222 | |
2,824,296 | |||||
Insurance 0.2% | |||||
BroadStreet Partners, Inc., Sr. Unsec’d. Notes, 144A (original cost $866,688; purchased 04/14/21 - 10/07/21)(f) (cost $868,104) | 5.875 | 04/15/29 | 875 | 762,037 | |
Internet 1.5% | |||||
Cablevision Lightpath LLC, | |||||
Sr. Sec’d. Notes, 144A | 3.875 | 09/15/27 | 1,925 | 1,609,442 | |
Sr. Unsec’d. Notes, 144A | 5.625 | 09/15/28 | 825 | 603,408 | |
Gen Digital, Inc., Sr. Unsec’d. Notes, 144A | 5.000 | 04/15/25 | 3,000 | 2,967,259 | |
Go Daddy Operating Co. LLC/GD Finance Co., Inc., | |||||
Gtd. Notes, 144A | 3.500 | 03/01/29 | 525 | 454,746 | |
Gtd. Notes, 144A | 5.250 | 12/01/27 | 1,165 | 1,120,172 | |
6,755,027 | |||||
Iron/Steel 0.6% | |||||
Big River Steel LLC/BRS Finance Corp., Sr. Sec’d. Notes, 144A(aa) | 6.625 | 01/31/29 | 1,709 | 1,697,976 | |
Cleveland-Cliffs, Inc., Gtd. Notes, 144A | 6.750 | 04/15/30 | 700 | 680,849 |
17
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Iron/Steel (cont’d.) | |||||
Commercial Metals Co., | |||||
Sr. Unsec’d. Notes | 4.125 % | 01/15/30 | 200 | $179,991 | |
Sr. Unsec’d. Notes | 4.375 | 03/15/32 | 300 | 259,776 | |
2,818,592 | |||||
Leisure Time 1.9% | |||||
Lindblad Expeditions Holdings, Inc., Sr. Sec’d. Notes, 144A | 9.000 | 05/15/28 | 525 | 525,167 | |
NCL Corp. Ltd., | |||||
Gtd. Notes, 144A | 5.875 | 03/15/26 | 1,250 | 1,073,437 | |
Sr. Sec’d. Notes, 144A | 8.375 | 02/01/28 | 875 | 877,187 | |
Royal Caribbean Cruises Ltd., | |||||
Gtd. Notes, 144A | 7.250 | 01/15/30 | 750 | 750,158 | |
Gtd. Notes, 144A | 9.250 | 01/15/29 | 325 | 343,688 | |
Sr. Sec’d. Notes, 144A | 8.250 | 01/15/29 | 1,125 | 1,181,812 | |
Sr. Unsec’d. Notes, 144A | 5.375 | 07/15/27 | 500 | 442,500 | |
Sr. Unsec’d. Notes, 144A | 5.500 | 04/01/28 | 1,200 | 1,058,640 | |
Sr. Unsec’d. Notes, 144A | 11.625 | 08/15/27 | 800 | 849,416 | |
Viking Cruises Ltd., Gtd. Notes, 144A | 5.875 | 09/15/27 | 350 | 299,334 | |
Viking Ocean Cruises Ship VII Ltd., Sr. Sec’d. Notes, 144A | 5.625 | 02/15/29 | 1,200 | 1,017,000 | |
Vista Outdoor, Inc., Gtd. Notes, 144A | 4.500 | 03/15/29 | 225 | 176,523 | |
8,594,862 | |||||
Lodging 2.0% | |||||
Hilton Domestic Operating Co., Inc., | |||||
Gtd. Notes, 144A | 3.625 | 02/15/32 | 900 | 767,986 | |
Gtd. Notes, 144A | 4.000 | 05/01/31 | 275 | 242,990 | |
MGM Resorts International, | |||||
Gtd. Notes | 4.625 | 09/01/26 | 275 | 262,725 | |
Gtd. Notes(aa) | 4.750 | 10/15/28 | 800 | 743,502 | |
Gtd. Notes(aa) | 5.500 | 04/15/27 | 1,061 | 1,037,152 | |
Gtd. Notes | 5.750 | 06/15/25 | 50 | 49,824 | |
Gtd. Notes(aa) | 6.750 | 05/01/25 | 1,910 | 1,926,976 | |
18
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Lodging (cont’d.) | |||||
Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse HSP Gaming Finance Corp., Sr. Sec’d. Notes, 144A | 5.875 % | 05/15/25 | 625 | $607,330 | |
Wynn Macau Ltd. (Macau), | |||||
Sr. Unsec’d. Notes, 144A | 5.125 | 12/15/29 | 1,325 | 1,090,889 | |
Sr. Unsec’d. Notes, 144A | 5.500 | 10/01/27 | 550 | 490,187 | |
Sr. Unsec’d. Notes, 144A | 5.625 | 08/26/28 | 2,125 | 1,847,422 | |
9,066,983 | |||||
Machinery-Construction & Mining 0.1% | |||||
Terex Corp., Gtd. Notes, 144A | 5.000 | 05/15/29 | 725 | 675,096 | |
Machinery-Diversified 1.0% | |||||
Chart Industries, Inc., | |||||
Gtd. Notes, 144A | 9.500 | 01/01/31 | 475 | 502,604 | |
Sr. Sec’d. Notes, 144A | 7.500 | 01/01/30 | 675 | 696,225 | |
GrafTech Finance, Inc., Sr. Sec’d. Notes, 144A | 4.625 | 12/15/28 | 975 | 817,299 | |
Maxim Crane Works Holdings Capital LLC, Sec’d. Notes, 144A (original cost $1,935,175; purchased 11/06/18 - 10/08/19)(aa)(f) | 10.125 | 08/01/24 | 1,815 | 1,804,547 | |
TK Elevator US Newco, Inc. (Germany), Sr. Sec’d. Notes, 144A | 5.250 | 07/15/27 | 625 | 583,875 | |
4,404,550 | |||||
Media 8.0% | |||||
AMC Networks, Inc., Gtd. Notes | 5.000 | 04/01/24 | 300 | 295,736 | |
CCO Holdings LLC/CCO Holdings Capital Corp., | |||||
Sr. Unsec’d. Notes | 4.500 | 05/01/32 | 1,850 | 1,483,857 | |
Sr. Unsec’d. Notes, 144A(aa) | 4.250 | 02/01/31 | 5,600 | 4,608,162 | |
Sr. Unsec’d. Notes, 144A | 4.500 | 06/01/33 | 700 | 558,125 | |
Sr. Unsec’d. Notes, 144A(aa) | 4.750 | 03/01/30 | 2,900 | 2,496,355 | |
Sr. Unsec’d. Notes, 144A | 5.000 | 02/01/28 | 1,000 | 926,656 | |
Sr. Unsec’d. Notes, 144A | 5.500 | 05/01/26 | 450 | 441,631 |
19
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Media (cont’d.) | |||||
CSC Holdings LLC, | |||||
Gtd. Notes, 144A | 3.375 % | 02/15/31 | 1,175 | $808,889 | |
Gtd. Notes, 144A(aa) | 4.125 | 12/01/30 | 775 | 556,794 | |
Gtd. Notes, 144A | 6.500 | 02/01/29 | 1,200 | 1,002,210 | |
Sr. Unsec’d. Notes, 144A(aa) | 4.625 | 12/01/30 | 4,875 | 2,377,969 | |
Sr. Unsec’d. Notes, 144A(aa) | 5.750 | 01/15/30 | 2,550 | 1,300,623 | |
Diamond Sports Group LLC/Diamond Sports Finance Co., | |||||
Gtd. Notes, 144A | 6.625 | 08/15/27(d) | 6,595 | 199,185 | |
Sec’d. Notes, 144A | 5.375 | 08/15/26(d) | 6,090 | 423,483 | |
DISH DBS Corp., | |||||
Gtd. Notes | 5.125 | 06/01/29 | 1,840 | 850,640 | |
Gtd. Notes | 7.375 | 07/01/28 | 1,065 | 532,023 | |
Gtd. Notes(aa) | 7.750 | 07/01/26 | 5,015 | 2,895,536 | |
DISH Network Corp., Sr. Sec’d. Notes, 144A | 11.750 | 11/15/27 | 1,875 | 1,773,033 | |
Gray Television, Inc., | |||||
Gtd. Notes, 144A | 5.875 | 07/15/26 | 200 | 169,976 | |
Gtd. Notes, 144A | 7.000 | 05/15/27 | 1,625 | 1,315,603 | |
iHeartCommunications, Inc., Sr. Sec’d. Notes | 6.375 | 05/01/26 | 1,421 | 1,223,015 | |
Midcontinent Communications/Midcontinent Finance Corp., Gtd. Notes, 144A | 5.375 | 08/15/27 | 1,040 | 962,716 | |
News Corp., Sr. Unsec’d. Notes, 144A | 3.875 | 05/15/29 | 325 | 288,579 | |
Nexstar Media, Inc., | |||||
Gtd. Notes, 144A | 4.750 | 11/01/28 | 150 | 131,965 | |
Gtd. Notes, 144A | 5.625 | 07/15/27 | 734 | 689,420 | |
Radiate Holdco LLC/Radiate Finance, Inc., | |||||
Sr. Sec’d. Notes, 144A | 4.500 | 09/15/26 | 610 | 477,420 | |
Sr. Unsec’d. Notes, 144A(aa) | 6.500 | 09/15/28 | 3,405 | 1,586,852 | |
Univision Communications, Inc., | |||||
Sr. Sec’d. Notes, 144A | 4.500 | 05/01/29 | 400 | 344,872 | |
Sr. Sec’d. Notes, 144A(aa) | 5.125 | 02/15/25 | 2,300 | 2,264,993 | |
Sr. Sec’d. Notes, 144A(aa) | 6.625 | 06/01/27 | 2,135 | 2,055,606 | |
VZ Secured Financing BV (Netherlands), Sr. Sec’d. Notes, 144A | 5.000 | 01/15/32 | 1,800 | 1,500,750 | |
36,542,674 |
20
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Metal Fabricate/Hardware 0.1% | |||||
Roller Bearing Co. of America, Inc., Sr. Unsec’d. Notes, 144A | 4.375 % | 10/15/29 | 525 | $476,787 | |
Mining 2.1% | |||||
Eldorado Gold Corp. (Turkey), Sr. Unsec’d. Notes, 144A | 6.250 | 09/01/29 | 1,425 | 1,325,250 | |
First Quantum Minerals Ltd. (Zambia), Gtd. Notes, 144A(aa) | 7.500 | 04/01/25 | 3,605 | 3,586,434 | |
Hecla Mining Co., Gtd. Notes(aa) | 7.250 | 02/15/28 | 700 | 700,904 | |
Hudbay Minerals, Inc. (Canada), | |||||
Gtd. Notes, 144A | 4.500 | 04/01/26 | 900 | 835,313 | |
Gtd. Notes, 144A | 6.125 | 04/01/29 | 1,245 | 1,160,963 | |
New Gold, Inc. (Canada), Gtd. Notes, 144A | 7.500 | 07/15/27 | 1,245 | 1,196,258 | |
Novelis Corp., | |||||
Gtd. Notes, 144A | 3.875 | 08/15/31 | 800 | 669,820 | |
Gtd. Notes, 144A | 4.750 | 01/30/30 | 275 | 248,915 | |
9,723,857 | |||||
Miscellaneous Manufacturing 0.4% | |||||
Amsted Industries, Inc., | |||||
Gtd. Notes, 144A(aa) | 5.625 | 07/01/27 | 1,075 | 1,057,354 | |
Sr. Unsec’d. Notes, 144A(aa) | 4.625 | 05/15/30 | 785 | 715,631 | |
1,772,985 | |||||
Office/Business Equipment 0.1% | |||||
CDW LLC/CDW Finance Corp., Gtd. Notes | 3.250 | 02/15/29 | 685 | 592,090 | |
Oil & Gas 8.9% | |||||
Aethon United BR LP/Aethon United Finance Corp., Sr. Unsec’d. Notes, 144A | 8.250 | 02/15/26 | 850 | 828,873 | |
Alta Mesa Holdings LP/Alta Mesa Finance Services Corp., Gtd. Notes^ | 7.875 | 12/15/24(d) | 5,325 | 36,210 |
21
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Oil & Gas (cont’d.) | |||||
Antero Resources Corp., | |||||
Gtd. Notes, 144A | 5.375 % | 03/01/30 | 775 | $726,855 | |
Gtd. Notes, 144A | 7.625 | 02/01/29 | 979 | 1,002,381 | |
Ascent Resources Utica Holdings LLC/ARU Finance Corp., | |||||
Gtd. Notes, 144A | 7.000 | 11/01/26 | 25 | 24,223 | |
Gtd. Notes, 144A | 9.000 | 11/01/27 | 527 | 651,593 | |
Sr. Unsec’d. Notes, 144A | 8.250 | 12/31/28 | 2,392 | 2,313,337 | |
Athabasca Oil Corp. (Canada), Sec’d. Notes, 144A(aa) | 9.750 | 11/01/26 | 1,700 | 1,785,000 | |
Chesapeake Energy Corp., | |||||
Gtd. Notes, 144A | 5.500 | 02/01/26 | 375 | 370,175 | |
Gtd. Notes, 144A | 5.875 | 02/01/29 | 750 | 715,514 | |
Gtd. Notes, 144A | 6.750 | 04/15/29 | 725 | 717,594 | |
CITGO Petroleum Corp., Sr. Sec’d. Notes, 144A | 7.000 | 06/15/25 | 1,175 | 1,169,026 | |
CNX Resources Corp., Gtd. Notes, 144A | 7.250 | 03/14/27 | 1,525 | 1,516,425 | |
Comstock Resources, Inc., | |||||
Gtd. Notes, 144A | 5.875 | 01/15/30 | 600 | 516,052 | |
Gtd. Notes, 144A | 6.750 | 03/01/29 | 975 | 882,532 | |
Crescent Energy Finance LLC, Sr. Unsec’d. Notes, 144A | 9.250 | 02/15/28 | 425 | 423,969 | |
CrownRock LP/CrownRock Finance, Inc., | |||||
Sr. Unsec’d. Notes, 144A | 5.000 | 05/01/29 | 500 | 473,064 | |
Sr. Unsec’d. Notes, 144A | 5.625 | 10/15/25 | 575 | 567,884 | |
Endeavor Energy Resources LP/EER Finance, Inc., Sr. Unsec’d. Notes, 144A(aa) | 5.750 | 01/30/28 | 975 | 970,471 | |
EQT Corp., Sr. Unsec’d. Notes | 5.000 | 01/15/29 | 250 | 239,359 | |
Hilcorp Energy I LP/Hilcorp Finance Co., | |||||
Sr. Unsec’d. Notes, 144A | 5.750 | 02/01/29 | 275 | 256,825 | |
Sr. Unsec’d. Notes, 144A | 6.000 | 04/15/30 | 850 | 792,419 | |
Sr. Unsec’d. Notes, 144A | 6.000 | 02/01/31 | 625 | 578,394 | |
Sr. Unsec’d. Notes, 144A(aa) | 6.250 | 11/01/28 | 1,808 | 1,731,160 | |
Sr. Unsec’d. Notes, 144A | 6.250 | 04/15/32 | 750 | 702,278 | |
MEG Energy Corp. (Canada), | |||||
Gtd. Notes, 144A | 5.875 | 02/01/29 | 575 | 552,000 | |
Gtd. Notes, 144A | 7.125 | 02/01/27 | 2,302 | 2,359,550 |
22
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Oil & Gas (cont’d.) | |||||
Nabors Industries Ltd., | |||||
Gtd. Notes, 144A | 7.250 % | 01/15/26 | 975 | $916,685 | |
Gtd. Notes, 144A | 7.500 | 01/15/28 | 1,325 | 1,205,750 | |
Nabors Industries, Inc., | |||||
Gtd. Notes(aa) | 5.750 | 02/01/25 | 1,400 | 1,362,452 | |
Gtd. Notes, 144A | 7.375 | 05/15/27 | 50 | 48,502 | |
Noble Finance II LLC, Gtd. Notes, 144A | 8.000 | 04/15/30 | 200 | 204,778 | |
Occidental Petroleum Corp., | |||||
Sr. Unsec’d. Notes | 6.125 | 01/01/31 | 745 | 779,845 | |
Sr. Unsec’d. Notes | 7.150 | 05/15/28 | 900 | 950,867 | |
Sr. Unsec’d. Notes | 8.875 | 07/15/30 | 200 | 234,903 | |
Parkland Corp. (Canada), | |||||
Gtd. Notes, 144A | 4.500 | 10/01/29 | 525 | 460,031 | |
Gtd. Notes, 144A | 4.625 | 05/01/30 | 1,325 | 1,156,062 | |
Precision Drilling Corp. (Canada), | |||||
Gtd. Notes, 144A | 6.875 | 01/15/29 | 275 | 252,312 | |
Gtd. Notes, 144A(aa) | 7.125 | 01/15/26 | 2,160 | 2,111,400 | |
Range Resources Corp., | |||||
Gtd. Notes | 4.875 | 05/15/25 | 425 | 419,623 | |
Gtd. Notes, 144A | 4.750 | 02/15/30 | 675 | 620,802 | |
Southwestern Energy Co., | |||||
Gtd. Notes | 4.750 | 02/01/32 | 1,200 | 1,060,281 | |
Gtd. Notes | 5.375 | 02/01/29 | 375 | 354,421 | |
Gtd. Notes(aa) | 5.375 | 03/15/30 | 1,900 | 1,770,211 | |
Sunoco LP/Sunoco Finance Corp., | |||||
Gtd. Notes | 4.500 | 05/15/29 | 1,630 | 1,480,204 | |
Gtd. Notes | 4.500 | 04/30/30 | 700 | 626,568 | |
Transocean, Inc., | |||||
Gtd. Notes, 144A | 7.500 | 01/15/26 | 1,400 | 1,288,000 | |
Gtd. Notes, 144A | 8.000 | 02/01/27 | 100 | 88,515 | |
Valaris Ltd., Sec’d. Notes, 144A | 8.375 | 04/30/30 | 350 | 349,125 | |
40,644,500 | |||||
Packaging & Containers 2.5% | |||||
ARD Finance SA (Luxembourg), Sr. Sec’d. Notes, 144A, Cash coupon 6.500% or PIK 7.250% | 6.500 | 06/30/27 | 1,066 | 879,838 |
23
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Packaging & Containers (cont’d.) | |||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., | |||||
Sr. Sec’d. Notes, 144A | 4.125 % | 08/15/26 | 475 | $446,766 | |
Sr. Unsec’d. Notes, 144A | 5.250 | 08/15/27 | 475 | 405,531 | |
Graham Packaging Co., Inc., Gtd. Notes, 144A(aa) | 7.125 | 08/15/28 | 1,360 | 1,190,168 | |
Graphic Packaging International LLC, Gtd. Notes | 4.125 | 08/15/24 | 300 | 296,838 | |
Intelligent Packaging Holdco Issuer LP (Canada), Sr. Unsec’d. Notes, 144A, Cash coupon 9.000% or PIK 9.750% | 9.000 | 01/15/26 | 300 | 201,000 | |
Intelligent Packaging Ltd. Finco, Inc./Intelligent Packaging Ltd. Co-Issuer LLC (Canada), Sr. Sec’d. Notes, 144A | 6.000 | 09/15/28 | 1,184 | 980,494 | |
LABL, Inc., | |||||
Sr. Sec’d. Notes, 144A | 5.875 | 11/01/28 | 425 | 392,212 | |
Sr. Sec’d. Notes, 144A | 6.750 | 07/15/26 | 250 | 247,667 | |
Sr. Sec’d. Notes, 144A | 9.500 | 11/01/28 | 200 | 205,832 | |
Sr. Unsec’d. Notes, 144A(aa) | 8.250 | 11/01/29 | 950 | 825,829 | |
Sr. Unsec’d. Notes, 144A | 10.500 | 07/15/27 | 600 | 570,071 | |
Mauser Packaging Solutions Holding Co., Sr. Sec’d. Notes, 144A | 7.875 | 08/15/26 | 650 | 659,578 | |
OI European Group BV, Gtd. Notes, 144A | 4.750 | 02/15/30 | 400 | 366,448 | |
Owens-Brockway Glass Container, Inc., | |||||
Gtd. Notes, 144A | 6.375 | 08/15/25 | 500 | 513,493 | |
Gtd. Notes, 144A | 6.625 | 05/13/27 | 230 | 230,768 | |
Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer, Inc., Sr. Sec’d. Notes, 144A | 4.375 | 10/15/28 | 725 | 638,322 | |
Sealed Air Corp./Sealed Air Corp. US, Gtd. Notes, 144A | 6.125 | 02/01/28 | 150 | 152,330 | |
Trident TPI Holdings, Inc., | |||||
Gtd. Notes, 144A | 6.625 | 11/01/25 | 275 | 274,906 | |
Gtd. Notes, 144A | 9.250 | 08/01/24 | 275 | 281,409 | |
Gtd. Notes, 144A | 12.750 | 12/31/28 | 1,275 | 1,306,937 | |
TriMas Corp., Gtd. Notes, 144A | 4.125 | 04/15/29 | 325 | 291,119 | |
11,357,556 |
24
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Pharmaceuticals 2.6% | |||||
AdaptHealth LLC, | |||||
Gtd. Notes, 144A | 4.625 % | 08/01/29 | 1,225 | $999,916 | |
Gtd. Notes, 144A | 5.125 | 03/01/30 | 525 | 434,412 | |
Gtd. Notes, 144A | 6.125 | 08/01/28 | 670 | 594,976 | |
Bausch Health Americas, Inc., Gtd. Notes, 144A | 8.500 | 01/31/27 | 1,100 | 565,334 | |
Bausch Health Cos., Inc., | |||||
Gtd. Notes, 144A | 5.000 | 01/30/28 | 975 | 438,750 | |
Gtd. Notes, 144A | 5.000 | 02/15/29 | 1,150 | 517,500 | |
Gtd. Notes, 144A(aa) | 5.250 | 01/30/30 | 2,325 | 1,086,937 | |
Gtd. Notes, 144A | 5.250 | 02/15/31 | 2,635 | 1,245,037 | |
Gtd. Notes, 144A(aa) | 6.250 | 02/15/29 | 4,260 | 1,941,751 | |
Gtd. Notes, 144A | 7.000 | 01/15/28 | 250 | 115,000 | |
Gtd. Notes, 144A | 9.000 | 12/15/25 | 500 | 417,500 | |
Jazz Securities DAC, Sr. Sec’d. Notes, 144A | 4.375 | 01/15/29 | 1,075 | 986,581 | |
Organon & Co./Organon Foreign Debt Co-Issuer BV, | |||||
Sr. Sec’d. Notes, 144A | 4.125 | 04/30/28 | 450 | 414,073 | |
Sr. Unsec’d. Notes, 144A | 5.125 | 04/30/31 | 1,600 | 1,424,172 | |
P&L Development LLC/PLD Finance Corp., Sr. Sec’d. Notes, 144A | 7.750 | 11/15/25 | 850 | 680,402 | |
11,862,341 | |||||
Pipelines 4.7% | |||||
Antero Midstream Partners LP/Antero Midstream Finance Corp., | |||||
Gtd. Notes, 144A | 5.375 | 06/15/29 | 975 | 913,157 | |
Gtd. Notes, 144A(aa) | 5.750 | 01/15/28 | 2,425 | 2,350,609 | |
Cheniere Energy Partners LP, Gtd. Notes | 4.000 | 03/01/31 | 1,575 | 1,407,653 | |
Cheniere Energy, Inc., Sr. Unsec’d. Notes(aa) | 4.625 | 10/15/28 | 2,750 | 2,624,800 | |
CNX Midstream Partners LP, Gtd. Notes, 144A | 4.750 | 04/15/30 | 200 | 168,023 | |
DCP Midstream Operating LP, | |||||
Gtd. Notes(aa) | 5.125 | 05/15/29 | 1,375 | 1,364,634 | |
Gtd. Notes | 5.625 | 07/15/27 | 510 | 518,427 | |
Energy Transfer LP, Jr. Sub. Notes, Series G(aa) | 7.125(ff) | 05/15/30(oo) | 1,075 | 905,906 |
25
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Pipelines (cont’d.) | |||||
EQM Midstream Partners LP, | |||||
Sr. Unsec’d. Notes | 5.500 % | 07/15/28 | 50 | $45,508 | |
Sr. Unsec’d. Notes, 144A | 6.000 | 07/01/25 | 351 | 344,638 | |
Sr. Unsec’d. Notes, 144A | 6.500 | 07/01/27 | 1,275 | 1,243,091 | |
Sr. Unsec’d. Notes, 144A | 7.500 | 06/01/27 | 125 | 124,436 | |
Sr. Unsec’d. Notes, 144A | 7.500 | 06/01/30 | 525 | 509,554 | |
Global Partners LP/GLP Finance Corp., | |||||
Gtd. Notes | 6.875 | 01/15/29 | 375 | 349,403 | |
Gtd. Notes(aa) | 7.000 | 08/01/27 | 750 | 724,371 | |
Rockies Express Pipeline LLC, Sr. Unsec’d. Notes, 144A(aa) | 6.875 | 04/15/40 | 2,050 | 1,785,772 | |
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., | |||||
Gtd. Notes, 144A(aa) | 5.500 | 01/15/28 | 2,054 | 1,906,758 | |
Gtd. Notes, 144A | 6.000 | 12/31/30 | 1,175 | 1,045,617 | |
Gtd. Notes, 144A | 7.500 | 10/01/25 | 200 | 201,954 | |
Venture Global Calcasieu Pass LLC, | |||||
Sr. Sec’d. Notes, 144A | 3.875 | 08/15/29 | 985 | 886,786 | |
Sr. Sec’d. Notes, 144A | 4.125 | 08/15/31 | 285 | 252,545 | |
Western Midstream Operating LP, | |||||
Sr. Unsec’d. Notes | 3.950 | 06/01/25 | 600 | 578,261 | |
Sr. Unsec’d. Notes(aa) | 4.300(cc) | 02/01/30 | 1,275 | 1,167,478 | |
Sr. Unsec’d. Notes | 5.500 | 08/15/48 | 75 | 63,818 | |
21,483,199 | |||||
Real Estate 1.7% | |||||
Five Point Operating Co. LP/Five Point Capital Corp., Gtd. Notes, 144A | 7.875 | 11/15/25 | 1,900 | 1,728,588 | |
Greystar Real Estate Partners LLC, Sr. Sec’d. Notes, 144A(aa) | 5.750 | 12/01/25 | 2,000 | 1,965,377 | |
Howard Hughes Corp. (The), | |||||
Gtd. Notes, 144A | 4.125 | 02/01/29 | 1,175 | 988,895 | |
Gtd. Notes, 144A | 4.375 | 02/01/31 | 675 | 547,550 | |
Gtd. Notes, 144A | 5.375 | 08/01/28 | 340 | 308,110 | |
Hunt Cos., Inc., Sr. Sec’d. Notes, 144A | 5.250 | 04/15/29 | 1,700 | 1,310,967 |
26
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Real Estate (cont’d.) | |||||
Realogy Group LLC/Realogy Co-Issuer Corp., | |||||
Gtd. Notes, 144A | 5.250 % | 04/15/30 | 550 | $392,199 | |
Gtd. Notes, 144A | 5.750 | 01/15/29 | 700 | 519,894 | |
7,761,580 | |||||
Real Estate Investment Trusts (REITs) 2.1% | |||||
Diversified Healthcare Trust, | |||||
Gtd. Notes | 4.375 | 03/01/31 | 861 | 542,690 | |
Gtd. Notes(aa) | 9.750 | 06/15/25 | 1,900 | 1,817,571 | |
Sr. Unsec’d. Notes | 4.750 | 05/01/24 | 50 | 45,640 | |
Sr. Unsec’d. Notes | 4.750 | 02/15/28 | 1,375 | 848,032 | |
MPT Operating Partnership LP/MPT Finance Corp., | |||||
Gtd. Notes | 0.993 | 10/15/26 | EUR | 200 | 155,663 |
Gtd. Notes | 3.500 | 03/15/31 | 125 | 85,765 | |
Gtd. Notes | 5.000 | 10/15/27 | 2,125 | 1,788,049 | |
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer, Sr. Sec’d. Notes, 144A(aa) | 7.500 | 06/01/25 | 1,665 | 1,673,208 | |
VICI Properties LP/VICI Note Co., Inc., | |||||
Gtd. Notes, 144A | 4.500 | 01/15/28 | 2,000 | 1,886,945 | |
Gtd. Notes, 144A(aa) | 4.625 | 12/01/29 | 825 | 767,733 | |
9,611,296 | |||||
Retail 5.4% | |||||
1011778 BC ULC/New Red Finance, Inc. (Canada), | |||||
Sec’d. Notes, 144A(aa) | 4.000 | 10/15/30 | 3,100 | 2,701,185 | |
Sr. Sec’d. Notes, 144A | 3.875 | 01/15/28 | 338 | 316,334 | |
At Home Group, Inc., | |||||
Gtd. Notes, 144A (original cost $1,467,438; purchased 06/24/21 - 02/23/22)(aa)(f) | 7.125 | 07/15/29 | 1,525 | 864,582 | |
Sr. Sec’d. Notes, 144A (original cost $125,000; purchased 06/24/21)(f) | 4.875 | 07/15/28 | 125 | 81,557 | |
BCPE Ulysses Intermediate, Inc., Sr. Unsec’d. Notes, 144A, Cash coupon 7.750% or PIK 8.500% | 7.750 | 04/01/27 | 150 | 119,383 | |
Brinker International, Inc., | |||||
Gtd. Notes, 144A | 5.000 | 10/01/24 | 675 | 661,025 | |
Sr. Unsec’d. Notes | 3.875 | 05/15/23 | 175 | 174,820 |
27
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Retail (cont’d.) | |||||
Carrols Restaurant Group, Inc., Gtd. Notes, 144A | 5.875 % | 07/01/29 | 650 | $537,794 | |
eG Global Finance PLC (United Kingdom), | |||||
Sr. Sec’d. Notes (original cost $801,432; purchased 12/15/21 - 02/01/22)(f) | 4.375 | 02/07/25 | EUR | 707 | 724,861 |
Sr. Sec’d. Notes (original cost $826,345; purchased 12/09/21 - 02/04/22)(f) | 6.250 | 10/30/25 | EUR | 715 | 739,828 |
Sr. Sec’d. Notes, 144A (original cost $726,813; purchased 01/28/22)(f) | 6.750 | 02/07/25 | 725 | 686,938 | |
Sr. Sec’d. Notes, 144A (original cost $1,450,000; purchased 10/11/19)(f) | 8.500 | 10/30/25 | 1,450 | 1,381,458 | |
Ferrellgas LP/Ferrellgas Finance Corp., | |||||
Sr. Unsec’d. Notes, 144A | 5.375 | 04/01/26 | 125 | 116,401 | |
Sr. Unsec’d. Notes, 144A | 5.875 | 04/01/29 | 980 | 828,606 | |
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc., | |||||
Gtd. Notes, 144A(aa) | 6.750 | 01/15/30 | 2,400 | 1,944,017 | |
Sr. Sec’d. Notes, 144A | 4.625 | 01/15/29 | 550 | 480,949 | |
Foundation Building Materials, Inc., Gtd. Notes, 144A(aa) | 6.000 | 03/01/29 | 1,375 | 1,102,284 | |
Gap, Inc. (The), | |||||
Gtd. Notes, 144A | 3.625 | 10/01/29 | 1,325 | 941,705 | |
Gtd. Notes, 144A | 3.875 | 10/01/31 | 800 | 557,477 | |
LBM Acquisition LLC, Gtd. Notes, 144A | 6.250 | 01/15/29 | 1,000 | 796,561 | |
LCM Investments Holdings II LLC, Sr. Unsec’d. Notes, 144A | 4.875 | 05/01/29 | 875 | 745,515 | |
Park River Holdings, Inc., | |||||
Gtd. Notes, 144A(aa) | 5.625 | 02/01/29 | 1,725 | 1,262,130 | |
Sr. Unsec’d. Notes, 144A | 6.750 | 08/01/29 | 200 | 145,992 | |
Patrick Industries, Inc., | |||||
Gtd. Notes, 144A | 4.750 | 05/01/29 | 475 | 413,175 | |
Gtd. Notes, 144A | 7.500 | 10/15/27 | 825 | 813,538 | |
Sally Holdings LLC/Sally Capital, Inc., Gtd. Notes(aa) | 5.625 | 12/01/25 | 900 | 888,438 | |
SRS Distribution, Inc., Gtd. Notes, 144A(aa) | 6.000 | 12/01/29 | 1,150 | 936,450 | |
Suburban Propane Partners LP/Suburban Energy Finance Corp., | |||||
Sr. Unsec’d. Notes | 5.875 | 03/01/27 | 610 | 595,113 |
28
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Retail (cont’d.) | |||||
Suburban Propane Partners LP/Suburban Energy Finance Corp., (cont’d.) | |||||
Sr. Unsec’d. Notes, 144A | 5.000 % | 06/01/31 | 1,275 | $1,116,447 | |
Superior Plus LP/Superior General Partner, Inc. (Canada), Gtd. Notes, 144A | 4.500 | 03/15/29 | 1,500 | 1,322,655 | |
White Cap Buyer LLC, Sr. Unsec’d. Notes, 144A | 6.875 | 10/15/28 | 900 | 787,057 | |
24,784,275 | |||||
Software 0.7% | |||||
Black Knight InfoServ LLC, Gtd. Notes, 144A | 3.625 | 09/01/28 | 1,643 | 1,483,862 | |
Clarivate Science Holdings Corp., | |||||
Gtd. Notes, 144A | 4.875 | 07/01/29 | 675 | 608,405 | |
Sr. Sec’d. Notes, 144A | 3.875 | 07/01/28 | 1,075 | 968,153 | |
3,060,420 | |||||
Telecommunications 4.8% | |||||
Altice France SA (France), Sr. Sec’d. Notes, 144A | 8.125 | 02/01/27 | 1,855 | 1,652,638 | |
Digicel Group Holdings Ltd. (Jamaica), Sr. Unsec’d. Notes, 144A, Cash coupon 5.000% and PIK 3.000% (original cost $962,725; purchased 01/04/22 - 10/03/22)(f) | 8.000 | 04/01/25 | 1,030 | 394,254 | |
Digicel International Finance Ltd./Digicel International Holdings Ltd. (Jamaica), | |||||
Gtd. Notes, 144A (original cost $152,500; purchased 03/09/23)(f) | 8.000 | 12/31/26 | 610 | 130,502 | |
Gtd. Notes, 144A, Cash coupon 6.000% and PIK 7.000% (original cost $682,325; purchased 10/28/22 - 12/15/22)(f) | 13.000 | 12/31/25 | 1,025 | 642,199 | |
Sr. Sec’d. Notes, 144A (original cost $812,313; purchased 06/26/19 - 03/15/23)(f) | 8.750 | 05/25/24 | 850 | 766,753 | |
Sr. Sec’d. Notes, 144A (original cost $511,875; purchased 06/03/20)(f) | 8.750 | 05/25/24 | 525 | 473,419 | |
Digicel Ltd. (Jamaica), Gtd. Notes, 144A (original cost $5,694,040; purchased 03/07/19 - 11/21/22)(f) | 6.750 | 06/01/23 | 7,768 | 1,514,760 |
29
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Telecommunications (cont’d.) | |||||
Iliad Holding SASU (France), | |||||
Sr. Sec’d. Notes, 144A | 6.500 % | 10/15/26 | 1,420 | $1,366,750 | |
Sr. Sec’d. Notes, 144A | 7.000 | 10/15/28 | 775 | 732,375 | |
Intelsat Jackson Holdings SA (Luxembourg), | |||||
Gtd. Notes^ | 5.500 | 08/01/23(d) | 2,160 | 2 | |
Gtd. Notes, 144A^ | 9.750 | 07/15/25(d) | 4,135 | 4 | |
Sr. Sec’d. Notes, 144A(aa) | 6.500 | 03/15/30 | 2,365 | 2,190,581 | |
Level 3 Financing, Inc., | |||||
Gtd. Notes, 144A | 3.750 | 07/15/29 | 400 | 224,930 | |
Gtd. Notes, 144A | 4.250 | 07/01/28 | 1,555 | 905,258 | |
Gtd. Notes, 144A | 4.625 | 09/15/27 | 400 | 246,605 | |
Sr. Sec’d. Notes, 144A | 10.500 | 05/15/30 | 553 | 529,469 | |
Sprint Capital Corp., | |||||
Gtd. Notes | 6.875 | 11/15/28 | 700 | 755,090 | |
Gtd. Notes | 8.750 | 03/15/32 | 706 | 863,576 | |
Sprint LLC, | |||||
Gtd. Notes | 7.125 | 06/15/24 | 250 | 254,120 | |
Gtd. Notes | 7.625 | 02/15/25 | 2,725 | 2,808,081 | |
Gtd. Notes | 7.875 | 09/15/23 | 1,794 | 1,807,642 | |
Viasat, Inc., Sr. Unsec’d. Notes, 144A(aa) | 5.625 | 09/15/25 | 3,200 | 3,052,560 | |
Zayo Group Holdings, Inc., | |||||
Sr. Sec’d. Notes, 144A | 4.000 | 03/01/27 | 120 | 90,760 | |
Sr. Unsec’d. Notes, 144A | 6.125 | 03/01/28 | 885 | 565,490 | |
21,967,818 | |||||
Transportation 0.0% | |||||
XPO Escrow Sub LLC, Gtd. Notes, 144A | 7.500 | 11/15/27 | 250 | 257,307 | |
Trucking & Leasing 0.2% | |||||
Fortress Transportation & Infrastructure Investors LLC, Gtd. Notes, 144A | 5.500 | 05/01/28 | 875 | 802,853 | |
Total Corporate Bonds (cost $568,023,216) | 493,871,149 |
30
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Floating Rate and Other Loans 4.8% | |||||
Airlines 0.3% | |||||
United Airlines, Inc., Class B Term Loan, 1 Month LIBOR + 3.750% | 8.770 %(c) | 04/21/28 | 1,514 | $1,505,882 | |
Computers 0.3% | |||||
McAfee Corp., Tranche B-1 Term Loan, 1 Month SOFR + 3.850% | 8.653(c) | 03/01/29 | 1,362 | 1,281,010 | |
Electric 0.1% | |||||
Heritage Power LLC, Term Loan B, 3 Month LIBOR + 5.000% | 12.500(c) | 07/30/26 | 2,004 | 612,110 | |
Housewares 0.2% | |||||
SWF Holdings I Corp., Initial Term Loan, 1 Month LIBOR + 4.000% | 9.010(c) | 10/06/28 | 1,005 | 842,818 | |
Insurance 0.4% | |||||
Acrisure LLC, | |||||
2021-1 Additional Term Loan, 1 Month LIBOR + 3.750% | 8.775(c) | 02/15/27 | 275 | 263,313 | |
Term Loan B 2020, 1 Month LIBOR + 3.500% | 8.525(c) | 02/15/27 | 300 | 286,031 | |
Asurion LLC, New B-4 Term Loan, 1 Month LIBOR + 5.250% | 10.275(c) | 01/20/29 | 1,250 | 1,039,063 | |
1,588,407 | |||||
Media 0.7% | |||||
CSC Holdings LLC, 2022 Refinancing Term Loan, 1 Month SOFR + 4.500% | 9.390(c) | 01/18/28 | 1,496 | 1,372,809 | |
Diamond Sports Group LLC, | |||||
First Lien Term Loan, 6 Month SOFR + 8.250% | 13.064(c) | 05/25/26 | 1,315 | 1,185,673 | |
Second Lien Term loan | 8.025 | 08/24/26 | 3,201 | 227,276 | |
Radiate Holdco LLC, Amendment No. 6 Term Loan, 1 Month LIBOR + 3.250% | 8.275(c) | 09/25/26 | 587 | 481,340 | |
3,267,098 |
31
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Floating Rate and Other Loans (Continued) | |||||
Oil & Gas 0.8% | |||||
Ascent Resources Utica Holdings LLC, Second Lien Term Loan, 3 Month LIBOR + 9.000% | 14.211 %(c) | 11/01/25 | 3,340 | $3,536,225 | |
Retail 0.3% | |||||
EG America LLC (United Kingdom), Project Becker Additional Facility, 1 Month SOFR + 4.364% | 9.164(c) | 03/31/26 | 338 | 326,895 | |
Great Outdoors Group LLC, Term B-2 Loan, 1 Month LIBOR + 3.750% | 8.775(c) | 03/06/28 | 1,198 | 1,186,242 | |
1,513,137 | |||||
Software 1.2% | |||||
Boxer Parent Co., Inc., | |||||
2021 Replacement Dollar Term Loan, 1 Month LIBOR + 3.750% | 8.775(c) | 10/02/25 | 221 | 218,163 | |
Second Lien Incremental Term Loan, 1 Month LIBOR + 5.500% | 10.525(c) | 02/27/26 | 350 | 338,625 | |
Camelot Co. (Luxembourg), Amendment No 2 Incremental Term Loans, 1 Month LIBOR + 3.000% | 8.025(c) | 10/30/26 | 426 | 425,460 | |
Finastra USA, Inc., | |||||
Dollar Term Loan (Second Lien), 3 Month LIBOR + 7.250% | 12.405(c) | 06/13/25 | 1,025 | 858,918 | |
First Lien Dollar Term Loan, 2 Month LIBOR + 3.500% | 9.988(c) | 06/13/24 | 2,217 | 2,107,724 | |
Skillsoft Finance II, Inc., Initial Term Loan, 1 Month SOFR + 5.364% | 10.197(c) | 07/14/28 | 1,712 | 1,455,086 | |
5,403,976 | |||||
Telecommunications 0.5% | |||||
Digicel International Finance Ltd. (Jamaica), First Lien Initial Term B Loan, 1 Month LIBOR + 3.250% | 8.275(c) | 05/27/24 | 175 | 157,303 | |
Intrado Corp., Initial Term Loan, 3 Month SOFR + 4.000% | 9.045(c) | 01/31/30 | 405 | 399,937 | |
MLN US Holdco LLC, | |||||
Initial Term Loan, 3 Month SOFR + 6.440% | 11.522(c) | 10/18/27 | 25 | 21,431 | |
Initial Term Loan (Second Out (1St Lien Roll-Up)), 3 Month SOFR + 6.700% | 11.782(c) | 10/18/27 | 57 | 31,316 |
32
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Floating Rate and Other Loans (Continued) | |||||
Telecommunications (cont’d.) | |||||
MLN US Holdco LLC, (cont’d.) | |||||
Term Loan, 6 Month SOFR + 9.250%^ | 14.332 %(c) | 10/18/27 | 4 | $1,920 | |
Xplornet Communications, Inc. (Canada), | |||||
First Lien Refinancing Term Loan, 1 Month LIBOR + 4.000% | 9.025(c) | 10/02/28 | 1,766 | 1,430,770 | |
Initial Term Loan- Second Lien, 1 Month LIBOR + 7.000%^ | 11.840(c) | 10/01/29 | 555 | 333,000 | |
2,375,677 | |||||
Total Floating Rate and Other Loans (cost $25,053,293) | 21,926,340 |
Shares | |||||
Common Stocks 1.8% | |||||
Chemicals 0.3% | |||||
TPC Group, Inc.*^ | 67,793 | 1,355,860 | |||
Electric Utilities 0.3% | |||||
GenOn Energy Holdings, Inc. (Class A Stock)^ | 9,187 | 918,700 | |||
Keycon Power Holdings LLC^ | 2,600 | 329,940 | |||
1,248,640 | |||||
Gas Utilities 0.2% | |||||
Ferrellgas Partners LP (Class B Stock)^ | 7,475 | 1,107,795 | |||
Hotels, Restaurants & Leisure 0.1% | |||||
CEC Entertainment, Inc. | 22,321 | 409,211 | |||
Oil, Gas & Consumable Fuels 0.6% | |||||
Chesapeake Energy Corp. | 30,680 | 2,536,622 | |||
Wireless Telecommunication Services 0.3% | |||||
Intelsat Emergence SA (Luxembourg)* | 59,486 | 1,565,255 | |||
Total Common Stocks (cost $4,937,219) | 8,223,383 |
33
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Description | Shares | Value | |||
Preferred Stock 0.6% | |||||
Gas Utilities | |||||
Ferrellgas Escrow LLC, 8.956%, Maturing 03/30/31^ (cost $2,571,250) | 2,625 | $2,625,000 |
Units | |||||
Rights* 0.0% | |||||
Wireless Telecommunication Services | |||||
Intelsat Jackson Holdings SA, Series A (Luxembourg), CVR, expiring 12/05/25^ | 6,229 | 59,368 | |||
Intelsat Jackson Holdings SA, Series B (Luxembourg), CVR, expiring 12/05/25^ | 6,229 | 12,330 | |||
Total Rights (cost $0) | 71,698 | ||||
Total Long-Term Investments (cost $641,931,616) | 568,265,451 |
Shares | |||||
Short-Term Investment 2.1% | |||||
Affiliated Mutual Fund | |||||
PGIM Core Government Money Market Fund (cost $9,492,921)(wj) | 9,492,921 | 9,492,921 | |||
TOTAL INVESTMENTS 126.1% (cost $651,424,537) | 577,758,372 | ||||
Liabilities in excess of other assets(z) (26.1)% | (119,656,296) | ||||
Net Assets 100.0% | $458,102,076 |
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: |
EUR—Euro | |
GBP—British Pound | |
USD—US Dollar |
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. | |
BNYM—Bank of New York Mellon | |
BOA—Bank of America, N.A. | |
CDX—Credit Derivative Index |
34
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
CLO—Collateralized Loan Obligation | |
CVR—Contingent Value Rights | |
DAC—Designated Activity Company | |
GSI—Goldman Sachs International | |
HSBC—HSBC Bank PLC | |
iBoxx—Bond Market Indices | |
LIBOR—London Interbank Offered Rate | |
LP—Limited Partnership | |
MSI—Morgan Stanley & Co International PLC | |
OTC—Over-the-counter | |
PIK—Payment-in-Kind | |
Q—Quarterly payment frequency for swaps | |
REITs—Real Estate Investment Trust | |
SOFR—Secured Overnight Financing Rate | |
T—Swap payment upon termination |
* | 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 $6,780,129 and 1.5% of net assets. |
(aa) | Represents security, or a portion thereof, with aggregate value of $171,841,045 segregated as collateral for amount of $130,000,000 borrowed and outstanding as of April 30, 2023. |
(c) | Variable rate instrument. The interest rate shown reflects the rate in effect at April 30, 2023. |
(cc) | Variable rate instrument. The rate shown is based on the latest available information as of April 30, 2023. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description. |
(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 that is acquired in unregistered, private sales from the issuing company or from an affiliate of the issuer and is considered restricted as to disposition under federal securities law; the aggregate original cost of such securities is $20,276,405. The aggregate value of $11,957,860 is 2.6% 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. |
(oo) | Perpetual security. Maturity date represents next call date. |
(wj) | PGIM Investments LLC, the manager of the Fund, also serves as manager of the PGIM Core Government Money Market Fund. |
(z) | Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments: |
Futures contracts outstanding at April 30, 2023: | ||||||||
Number of Contracts | Type | Expiration Date | Current Notional Amount | Value / Unrealized Appreciation (Depreciation) | ||||
Long Positions: | ||||||||
46 | 5 Year U.S. Treasury Notes | Jun. 2023 | $5,048,141 | $101,665 | ||||
81 | 10 Year U.S. Treasury Notes | Jun. 2023 | 9,331,454 | 264,491 |
35
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Futures contracts outstanding at April 30, 2023 (continued): | ||||||||
Number of Contracts | Type | Expiration Date | Current Notional Amount | Value / Unrealized Appreciation (Depreciation) | ||||
Long Positions (cont’d): | ||||||||
33 | 20 Year U.S. Treasury Bonds | Jun. 2023 | $4,344,656 | $176,331 | ||||
31 | 30 Year U.S. Ultra Treasury Bonds | Jun. 2023 | 4,383,594 | 154,621 | ||||
$697,108 |
Forward foreign currency exchange contracts outstanding at April 30, 2023:
Purchase Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts: | |||||||||||||
British Pound, | |||||||||||||
Expiring 05/02/23 | BNYM | GBP | 425 | $529,220 | $534,011 | $4,791 | $— | ||||||
Euro, | |||||||||||||
Expiring 05/02/23 | BOA | EUR | 1,745 | 1,920,360 | 1,923,287 | 2,927 | — | ||||||
$2,449,580 | $2,457,298 | 7,718 | — |
Sale Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts: | |||||||||||||
British Pound, | |||||||||||||
Expiring 05/02/23 | MSI | GBP | 425 | $521,625 | $534,011 | $— | $(12,386) | ||||||
Expiring 06/02/23 | BNYM | GBP | 425 | 529,565 | 534,387 | — | (4,822) | ||||||
Euro, | |||||||||||||
Expiring 05/02/23 | HSBC | EUR | 1,618 | 1,747,328 | 1,783,456 | — | (36,128) | ||||||
Expiring 05/02/23 | HSBC | EUR | 127 | 137,809 | 139,831 | — | (2,022) | ||||||
Expiring 06/02/23 | BOA | EUR | 1,745 | 1,923,705 | 1,926,939 | — | (3,234) | ||||||
$4,860,032 | $4,918,624 | — | (58,592) | ||||||||||
$7,718 | $(58,592) |
36
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Credit default swap agreement outstanding at April 30, 2023:
Reference Entity/ Obligation | Termination Date | Fixed Rate | Notional Amount (000)#(3) | Implied Credit Spread at April 30, 2023(4) | Value at Trade Date | Value at April 30, 2023 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Credit Default Swap Agreement on credit indices - Sell Protection(2): | |||||||||||||||
CDX.NA.HY.40.V1 | 06/20/28 | 5.000%(Q) | 55,521 | 4.648% | $(183,142) | $1,110,329 | $1,293,471 |
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. |
37
PGIM High Yield Bond Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of April 30, 2023
Total return swap agreements outstanding at April 30, 2023: | ||||||||||||||
Reference Entity | Financing Rate | Counterparty | Termination Date | Long (Short) Notional Amount (000)#(1) | Fair Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation)(2) | |||||||
OTC Total Return Swap Agreements: | ||||||||||||||
iBoxx USD Investment Grade Index(T) | 1 Day SOFR(Q)/ 4.810% | GSI | 06/20/23 | (11,625) | $(11,459) | $— | $(11,459) | |||||||
iBoxx USD Investment Grade Index(T) | 1 Day SOFR(Q)/ 4.810% | GSI | 09/20/23 | (11,625) | (17,311) | — | (17,311) | |||||||
$(28,770) | $— | $(28,770) |
(1) | On a long total return swap, the Fund receives payments for any positive return on the reference entity (makes payments for any negative return) and pays the financing rate. On a short total return swap, the Fund makes payments for any positive return on the reference entity (receives payments for any negative return) and receives the financing rate. |
(2) | Upfront/recurring fees or commissions, as applicable, are included in the net unrealized appreciation (depreciation). |
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).
38