PGIM Floating Rate Income Fund
Schedule of Investments (unaudited)
as of November 30, 2019
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Long-Term Investments 96.0% | |||||
Asset-Backed Securities 5.0% | |||||
Collateralized Loan Obligations | |||||
Atlas Senior Loan Fund Ltd. (Cayman Islands), Series 2019-15A, Class B1, 144A, 3 Month LIBOR + 2.250% (Cap N/A, Floor 2.250%) | 4.169 %(c) | 10/23/32 | 5,000 | $4,995,966 | |
Cathedral Lake CLO Ltd. (Cayman Islands), Series 2016-04A, Class BR, 144A, 3 Month LIBOR + 2.250% (Cap N/A, Floor 2.250%) | 4.216(c) | 10/20/28 | 2,000 | 1,999,551 | |
Jefferson Mill CLO Ltd. (Cayman Islands), Series 2015-01A, Class BR, 144A, 3 Month LIBOR + 1.950% (Cap N/A, Floor 0.000%) | 3.916(c) | 10/20/31 | 1,700 | 1,692,920 | |
Trimaran Cavu Ltd. (Cayman Islands), Series 2019-01A, Class B, 144A, 3 Month LIBOR + 2.200% (Cap N/A, Floor 2.200%) | 4.166(c) | 07/20/32 | 10,000 | 9,904,470 | |
Trinitas CLO Ltd. (Cayman Islands), | |||||
Series 2016-04A, Class BR, 144A, 3 Month LIBOR + 1.950% (Cap N/A, Floor 0.000%) | 3.953(c) | 10/18/31 | 4,000 | 3,960,406 | |
Series 2019-10A, Class B, 144A, 3 Month LIBOR + 2.100% (Cap N/A, Floor 2.100%) | 4.101(c) | 04/15/32 | 3,000 | 2,991,714 | |
Zais CLO Ltd. (Cayman Islands), Series 2015-03A, Class A2R, 144A, 3 Month LIBOR + 2.190% (Cap N/A, Floor 0.000%) | 4.191(c) | 07/15/31 | 3,000 | 2,914,160 | |
Total Asset-Backed Securities (cost $28,700,000) | 28,459,187 | ||||
Bank Loans 83.4% | |||||
Advertising 0.3% | |||||
Advantage Sales & Marketing, Inc., | |||||
First Lien Initial Term Loan, 1 Month LIBOR + 3.250% | 4.952(c) | 07/23/21 | 1,146 | 1,074,530 | |
Incremental Term B-2 Loan, 1 Month LIBOR + 3.250% | 4.952(c) | 07/23/21 | 418 | 391,430 | |
1,465,960 | |||||
Aerospace & Defense 0.6% | |||||
TransDigm, Inc., New Tranche G Term Loans, 1 Month LIBOR + 2.500% | 4.202(c) | 08/22/24 | 3,659 | 3,655,465 |
1
PGIM Floating Rate Income Fund
Schedule of Investments (unaudited) (continued)
as of November 30, 2019
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Bank Loans(Continued) | |||||
Apparel 0.6% | |||||
Calceus Acquisition, Inc., Term Loan, 1 Month LIBOR + 5.500% | 7.202 %(c) | 02/12/25 | 2,502 | $2,495,932 | |
Kontoor Brands, Inc., Term Loan B, 1 Month LIBOR + 4.250%^ | 5.923(c) | 05/15/26 | 724 | 721,525 | |
3,217,457 | |||||
Auto Manufacturers 0.8% | |||||
Navistar, Inc., Tranche B Term Loan, 1 Month LIBOR + 3.500% | 5.270(c) | 11/06/24 | 3,899 | 3,872,213 | |
UOS LLC, Initial Term Loan, 1 Month LIBOR + 5.500%^ | 7.202(c) | 04/18/23 | 645 | 646,052 | |
4,518,265 | |||||
Auto Parts & Equipment 2.5% | |||||
Adient US LLC, Initial Term Loan, 3 Month LIBOR + 4.250% | 6.124(c) | 05/06/24 | 1,570 | 1,565,888 | |
American Axle & Manufacturing, Inc., Tranche B Term Loan, 1 - 3 Month LIBOR + 2.250% | 4.075(c) | 04/06/24 | 2,869 | 2,814,941 | |
Autokiniton US Holdings, Inc., 2019 Term B Loan, 1 Month LIBOR + 5.750%^ | 7.452(c) | 05/22/25 | 325 | 310,375 | |
Cooper-Standard Automotive, Inc., Additional Term B-1 Loan, 1 Month LIBOR + 2.000% | 3.702(c) | 11/02/23 | 3,038 | 2,779,695 | |
Innovative Xcessories & Services LLC, Term Loan, 1 Month LIBOR + 4.750%^ | 6.460(c) | 11/29/22 | 1,424 | 1,406,328 | |
K & N Parent, Inc., Initial Term Loan, 1 Month LIBOR + 4.750%^ | 6.452(c) | 10/20/23 | 1,638 | 1,539,664 | |
Superior Industries International, Inc., Replacement Term Loan, 1 Month LIBOR + 4.000% | 5.702(c) | 05/22/24 | 1,165 | 1,083,928 | |
Truck Hero, Inc., Term Loan, 1 Month LIBOR + 3.750% | 5.452(c) | 04/22/24 | 2,563 | 2,399,083 | |
13,899,902 | |||||
Beverages 0.2% | |||||
Arctic Glacier USA, Inc., Specified Refinancing Term Loan, 1 Month LIBOR + 3.500% | 5.202(c) | 03/20/24 | 1,500 | 1,416,251 |
2
PGIM Floating Rate Income Fund
Schedule of Investments (unaudited) (continued)
as of November 30, 2019
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Bank Loans(Continued) | |||||
Building Materials 1.0% | |||||
Airxcel, Inc., Second Lien Initial Term Loan, 1 Month LIBOR + 8.750% | 10.452 %(c) | 04/27/26 | 225 | $204,750 | |
API Group, Inc., Initial Term Loan, 1 Month LIBOR + 2.500% | 4.554(c) | 10/01/26 | 1,175 | 1,179,406 | |
DiversiTech Holdings, Inc., Tranche B-1 Term Loan, 3 Month LIBOR + 3.000% | 5.104(c) | 06/03/24 | 1,244 | 1,214,816 | |
Ply Gem Midco, Inc., Initial Term Loan, 1 Month LIBOR + 3.750% | 5.509(c) | 04/14/25 | 3,200 | 3,160,125 | |
5,759,097 | |||||
Chemicals 3.8% | |||||
Albaugh LLC, 2017 Refinancing Term Loan, 1 Month LIBOR + 3.500% | 5.202(c) | 12/23/24 | 1,798 | 1,721,585 | |
Ascend Performance Materials Operations LLC, Initial Term Loan, 3 Month LIBOR + 5.250%^ | 7.354(c) | 08/27/26 | 900 | 900,000 | |
Colouroz Midco - Colouroz Investment 2 LLC, Second Lien Initial Term B-2 Loan, 3 Month LIBOR + 7.250% | 9.186(c) | 09/05/22 | 118 | 81,890 | |
Hexion, Inc., Senior Secured Term B Loan, 3 Month LIBOR + 3.500%^ | 5.600(c) | 07/01/26 | 2,593 | 2,596,742 | |
Perstorp Holding AB (Sweden), Facility B Loan, 3 Month LIBOR + 4.750%^ | 6.854(c) | 02/26/26 | 1,642 | 1,543,245 | |
Plaskolite PPC Intermediate II LLC, Initial Term Loan (First Lien), 1 Month LIBOR + 4.250% | 5.972(c) | 12/15/25 | 2,135 | 1,980,323 | |
Solenis International LP, | |||||
First Lien Initial Dollar Term Loan, 1 - 3 Month LIBOR + 4.000% | 5.805(c) | 06/26/25 | 3,908 | 3,682,964 | |
Second Lien Initial Term Loan, 3 Month LIBOR + 8.500% | 10.409(c) | 06/26/26 | 1,635 | 1,479,675 | |
Starfruit Finco BV (Netherlands), Initial Dollar Term Loan, 1 Month LIBOR + 3.250% | 5.005(c) | 10/01/25 | 4,521 | 4,471,265 |
3
PGIM Floating Rate Income Fund
Schedule of Investments (unaudited) (continued)
as of November 30, 2019
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Bank Loans(Continued) | |||||
Chemicals (cont’d.) | |||||
Tronox Finance LLC, First Lien Initial Dollar Term Loan, 1 - 3 Month LIBOR + 2.750% | 4.653 %(c) | 09/23/24 | 1,612 | $1,605,678 | |
Venator Materials LLC, Initial Term Loan, 1 Month LIBOR + 3.000%^ | 4.702(c) | 08/08/24 | 1,333 | 1,322,781 | |
21,386,148 | |||||
Coal 0.2% | |||||
CNX Resources Corp., Term Loan B, 1 Month LIBOR + 4.500%^ | 6.210(c) | 09/27/24 | 979 | 876,055 | |
Murray Energy Corp., Superpriority Term B-2 Loan, 3 Month LIBOR + 7.250% | 7.250(c) | 10/17/22 | 789 | 188,457 | |
1,064,512 | |||||
Commercial Services 4.5% | |||||
Adtalem Global Education, Inc., Term B Loan, 1 Month LIBOR + 3.000% | 4.702(c) | 04/09/25 | 1,802 | 1,797,682 | |
Barbri, Inc., First Lien Initial Term Loan, 3 Month LIBOR + 4.250%^ | 6.463(c) | 12/01/23 | 691 | 670,480 | |
EAB Global, Inc., First Lien Term Loan, 2 - 3 Month LIBOR + 3.750%^ | 5.735(c) | 11/17/24 | 808 | 793,776 | |
Financial & Risk US Holdings, Inc., Initial Dollar Term Loan, 1 Month LIBOR + 3.750% | 5.452(c) | 10/01/25 | 6,049 | 6,083,264 | |
Inmar, Inc., Initial Term Loan (First Lien), 3 Month LIBOR + 4.000%^ | 6.104(c) | 05/01/24 | 995 | 945,165 | |
IRI Holdings, Inc., First Lien Initial Term Loan, 1 Month LIBOR + 4.500% | 6.202(c) | 12/01/25 | 1,329 | 1,257,765 | |
Kingpin Intermediate Holdings LLC, 2018 Refinancing Term Loan, 1 Month LIBOR + 3.500% | 5.290(c) | 07/03/24 | 1,551 | 1,548,994 | |
PSC Industrial Holdings Corp., Term Loan (First Lien), 1 Month LIBOR + 3.750%^ | 5.515(c) | 10/11/24 | 2,041 | 2,000,327 | |
St. George’s University Scholastic Services LLC (Canada), Term Loan, 1 Month LIBOR + 3.500%^ | 5.210(c) | 07/17/25 | 3,962 | 3,976,999 |
4
PGIM Floating Rate Income Fund
Schedule of Investments (unaudited) (continued)
as of November 30, 2019
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Bank Loans(Continued) | |||||
Commercial Services (cont’d.) | |||||
Syniverse Holdings, Inc., Tranche C Term Loan, 2 Month LIBOR + 5.000% | 6.846 %(c) | 03/09/23 | 3,623 | $3,204,810 | |
Trugreen, LP, 2019 Term Loan B, 1 Month LIBOR + 3.750%^ | 5.452(c) | 03/19/26 | 1,169 | 1,172,048 | |
Tweddle Group, Inc., Effective Date Term Loan, 1 Month LIBOR + 4.500%^ | 6.202(c) | 09/17/23 | 300 | 89,980 | |
VT Topco, Inc., First Lien Initial Term Loan, 3 Month LIBOR + 3.750% | 5.854(c) | 08/01/25 | 1,660 | 1,649,724 | |
25,191,014 | |||||
Computers 4.3% | |||||
ConvergeOne Holdings Corp., First Lien Initial Term Loan, 1 Month LIBOR + 5.000% | 6.702(c) | 01/05/26 | 1,492 | 1,343,250 | |
DynCorp International, Inc., First Lien Term Loan B, 1 Month LIBOR + 6.000% | 7.765(c) | 08/15/25 | 1,800 | 1,755,000 | |
Genuine Financial Holdings LLC, First Lien Initial Term Loan, 1 Month LIBOR + 3.750% | 5.452(c) | 07/11/25 | 1,760 | 1,694,344 | |
McAfee LLC, | |||||
Second Lien Initial Loan, 1 Month LIBOR + 8.500% | 10.202(c) | 09/29/25 | 2,898 | 2,907,385 | |
Term B USD Loan, 1 Month LIBOR + 3.750% | 5.452(c) | 09/30/24 | 4,428 | 4,429,966 | |
Neustar, Inc., | |||||
First Lien Term Loan B4, 1 Month LIBOR + 3.500% | 5.202(c) | 08/08/24 | 2,282 | 2,135,502 | |
Second Lien Initial Term Loan, 1 Month LIBOR + 8.000% | 9.702(c) | 08/08/25 | 550 | 482,033 | |
Peak 10 Holding Corp., Initial Term Loan (First Lien), 3 Month LIBOR + 3.500% | 5.604(c) | 08/01/24 | 3,355 | 2,709,247 | |
Procera Networks, Inc. (Canada), Initial Term Loan (First Lien), 1 Month LIBOR + 4.500% | 6.202(c) | 10/31/25 | 1,836 | 1,799,403 | |
SonicWall US Holdings, Inc., First Lien Term Loan, 3 Month LIBOR + 3.500% | 5.399(c) | 05/17/25 | 1,457 | 1,393,395 | |
VeriFone Systems, Inc., First Lien Initial Term Loan, 3 Month LIBOR + 4.000% | 5.899(c) | 08/20/25 | 3,871 | 3,729,180 | |
24,378,705 |
5
PGIM Floating Rate Income Fund
Schedule of Investments (unaudited) (continued)
as of November 30, 2019
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Bank Loans(Continued) | |||||
Cosmetics/Personal Care 0.1% | |||||
Revlon Consumer Products Corp., Initial Term B Loan, 3 Month LIBOR + 3.500% | 5.526 %(c) | 09/07/23 | 1,118 | $813,434 | |
Distribution/Wholesale 0.2% | |||||
American Tire Distributors, Inc., Initial Term Loan, 1 Month LIBOR + 7.500% | 9.202(c) | 09/02/24 | 575 | 500,408 | |
Fleetpride, Inc., First Lien Initial Term Loan, 3 Month LIBOR + 4.500% | 6.604(c) | 02/04/26 | 697 | 656,451 | |
1,156,859 | |||||
Diversified Financial Services 2.6% | |||||
Capital Automotive, LP, Initial Tranche B Term Loan (Second Lien), 1 Month LIBOR + 6.000% | 7.710(c) | 03/24/25 | 594 | 593,416 | |
GreenSky Holdings LLC, Tranche B-1 Term Loan, 1 Month LIBOR + 3.250% | 5.000(c) | 03/31/25 | 1,247 | 1,228,133 | |
Hudson River Trading LLC, Term Loan, 1 Month LIBOR + 3.500% | 5.202(c) | 04/03/25 | 2,981 | 2,982,878 | |
LiquidNet Holdings, Inc., Term Loan, 1 Month LIBOR + 3.250% | 4.952(c) | 07/11/24 | 1,630 | 1,613,854 | |
PHH Mortgage Corp., Restatement Effective Date Term Loan, 1 Month LIBOR + 5.000% | 6.702(c) | 12/07/20 | 1,209 | 1,193,324 | |
Stepstone Group, LP, Initial Term Loan, 2 Month LIBOR + 4.000%^ | 5.844(c) | 03/27/25 | 1,332 | 1,325,564 | |
VFH Parent LLC, Initial Term Loan, 3 Month LIBOR + 3.500% | 6.044(c) | 03/01/26 | 5,674 | 5,658,917 | |
14,596,086 | |||||
Electric 0.3% | |||||
Heritage Power LLC, Term Loan B, 3 Month LIBOR + 6.000%^ | 8.205(c) | 07/30/26 | 1,250 | 1,207,813 | |
Lonestar II Generation Holdings LLC, | |||||
Initial Term B Loan, 1 Month LIBOR + 5.000% | 6.702(c) | 04/20/26 | 490 | 489,231 | |
Initial Term C Loan, 1 Month LIBOR + 5.000% | 6.702(c) | 04/20/26 | 59 | 58,855 | |
1,755,899 |
6
PGIM Floating Rate Income Fund
Schedule of Investments (unaudited) (continued)
as of November 30, 2019
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Bank Loans(Continued) | |||||
Electrical Components & Equipment 0.2% | |||||
Pelican Products, Inc., Term Loan (First Lien), 1 Month LIBOR + 3.500%^ | 5.265 %(c) | 05/01/25 | 1,142 | $1,042,352 | |
Electronics 0.5% | |||||
Celestica, Inc. (Canada), Term B Loan, 1 Month LIBOR + 2.125% | 3.825(c) | 06/27/25 | 2,740 | 2,683,224 | |
Engineering & Construction 1.2% | |||||
Brand Energy & Infrastructure Services, Inc., Initial Term Loan, 3 Month LIBOR + 4.250% | 6.254(c) | 06/21/24 | 1,745 | 1,707,298 | |
Dynasty Acquisition Co., Inc., | |||||
Initial Term B-1 Loan, 3 Month LIBOR + 4.000% | 6.104(c) | 04/06/26 | 1,821 | 1,827,049 | |
Initial Term B-2 Loan, 3 Month LIBOR + 4.000% | 6.104(c) | 04/06/26 | 979 | 982,692 | |
TRC Co., Inc., Refinancing Term Loan, 1 Month LIBOR + 3.500% | 5.202(c) | 06/21/24 | 2,345 | 2,333,530 | |
6,850,569 | |||||
Entertainment 0.0% | |||||
Deluxe Entertainment Services Group, Inc., Term Loan | —(p) | 02/28/20 | 1,181 | 85,630 | |
Environmental Control 0.2% | |||||
Robertshaw US Holding Corp., First Lien Initial Term Loan, 1 Month LIBOR + 3.250%^ | 5.000(c) | 02/28/25 | 1,607 | 1,401,985 | |
Foods 2.4% | |||||
Chefs’ Warehouse, Inc., Term Loan, 1 Month LIBOR + 3.500%^ | 5.200(c) | 06/22/22 | 1,681 | 1,681,210 | |
CSM Bakery Solutions LLC, First Lien Term Loan, 3 Month LIBOR + 4.000% | 6.030(c) | 07/03/20 | 2,811 | 2,689,515 | |
H-Food Holdings LLC, Initial Term Loan, 1 Month LIBOR + 3.688% | 5.389(c) | 05/23/25 | 2,222 | 2,058,012 | |
Milk Specialties Co., New Term Loan, 1 Month LIBOR + 4.000%^ | 5.702(c) | 08/16/23 | 3,695 | 3,362,392 |
7
PGIM Floating Rate Income Fund
Schedule of Investments (unaudited) (continued)
as of November 30, 2019
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Bank Loans(Continued) | |||||
Foods (cont’d.) | |||||
Shearer’s Foods LLC, Refinancing Term Loan, 1 Month LIBOR + 4.250% | 5.952 %(c) | 03/31/22 | 1,455 | $1,450,687 | |
United Natural Foods, Inc., Initial Term Loan, 1 Month LIBOR + 4.250% | 5.952(c) | 10/22/25 | 2,829 | 2,315,937 | |
13,557,753 | |||||
Forest Products & Paper 0.2% | |||||
Clearwater Paper Corp., Initial Term Loan, 1 Month LIBOR + 3.250%^ | 4.875(c) | 07/26/26 | 1,050 | 1,047,375 | |
Healthcare-Products 0.6% | |||||
Mallinckrodt International Finance SA, 2017 Term B Loan, 3 Month LIBOR + 2.750% | 4.854(c) | 09/24/24 | 2,809 | 2,172,123 | |
Sotera Health Holdings LLC, | |||||
Incremental Term Loan, 3 Month LIBOR + 3.500% | 5.427(c) | 05/16/22 | 549 | 546,339 | |
Term Loan | —(p) | 11/20/26 | 250 | 248,854 | |
Sterigenics-Nordion Holdings LLC, Incremental Term Loan, 3 Month LIBOR + 3.000% | 4.927(c) | 05/15/22 | 725 | 720,755 | |
3,688,071 | |||||
Healthcare-Services 7.5% | |||||
Accelerated Health Systems LLC, Initial Term Loan, 1 Month LIBOR + 3.500%^ | 5.258(c) | 10/31/25 | 1,663 | 1,662,437 | |
Air Medical Group Holdings, Inc., | |||||
2017-2 New Term Loan, 1 Month LIBOR + 4.250% | 5.952(c) | 03/14/25 | 1,600 | 1,487,671 | |
2018 Term Loan, 1 Month LIBOR + 3.250% | 4.972(c) | 04/28/22 | 1,327 | 1,250,508 | |
Air Methods Corp., Initial Term Loan, 3 Month LIBOR + 3.500% | 5.604(c) | 04/22/24 | 1,208 | 996,940 | |
Alliance Healthcare Services, Inc., | |||||
First Lien Initial Term Loan, 1 Month LIBOR + 4.500%^ | 6.202(c) | 10/24/23 | 2,786 | 2,423,660 | |
Second Lien Initial Term Loan, 1 Month LIBOR + 10.000%^ | 11.702(c) | 04/24/24 | 825 | 814,688 | |
ATI Holdings Acquisition, Inc., Initial Term Loan (First Lien), 1 Month LIBOR + 3.500% | 5.202(c) | 05/10/23 | 3,777 | 3,700,243 | |
BW NHHC Holdco, Inc., First Lien Initial Term Loan, 3 Month LIBOR + 5.000% | 6.909(c) | 05/15/25 | 1,977 | 1,482,649 |
8
PGIM Floating Rate Income Fund
Schedule of Investments (unaudited) (continued)
as of November 30, 2019
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Bank Loans(Continued) | |||||
Healthcare-Services (cont’d.) | |||||
DaVita, Inc., Tranche B Term Loan, 1 Month LIBOR + 2.250% | 3.952 %(c) | 08/12/26 | 1,525 | $1,532,625 | |
DentalCorp Perfect Smile ULC (Canada), Initial Term Loan, 1 Month LIBOR + 3.750% | 5.452(c) | 06/06/25 | 1,797 | 1,754,346 | |
Envision Healthcare Corp., Initial Term Loan, 1 Month LIBOR + 3.750% | 5.452(c) | 10/10/25 | 2,775 | 2,200,079 | |
Explorer Holdings, Inc., | |||||
Initial Term Loan, 3 Month LIBOR + 3.750%^ | 5.854(c) | 05/02/23 | 2,561 | 2,554,427 | |
Term Loan | —(p) | 11/20/26 | 1,025 | 1,017,312 | |
Gentiva Health Services, Inc., First Lien Closing Date Initial Term Loan, 1 Month LIBOR + 3.750% | 5.500(c) | 07/02/25 | 4,632 | 4,645,903 | |
LifePoint Health, Inc., First Lien Term B Loan, 1 Month LIBOR + 4.500% | 6.202(c) | 11/16/25 | 4,864 | 4,885,526 | |
Medical Solutions Holdings, Inc., Closing Date Term Loan (First Lien), 1 Month LIBOR + 4.500% | 6.202(c) | 06/14/24 | 1,854 | 1,840,395 | |
MPH Acquisition Holdings LLC, Initial Term Loan, 3 Month LIBOR + 2.750% | 4.854(c) | 06/07/23 | 3,106 | 2,960,689 | |
Radnet Management, Inc., Term B-1 Loan (First Lien), 3 Month LIBOR + 3.500%/PRIME + 2.500% | 6.505(c) | 06/30/23 | 850 | 840,438 | |
Surgery Center Holdings, Inc., Initial Term Loan, 1 Month LIBOR + 3.250% | 4.960(c) | 09/02/24 | 865 | 852,684 | |
US Anesthesia Partners, Inc., Initial Term Loan (First Lien), 1 Month LIBOR + 3.000% | 4.702(c) | 06/24/24 | 924 | 913,245 | |
US Renal Care, Inc., First Lien Term Loan B, 1 Month LIBOR + 5.000% | 6.750(c) | 06/26/26 | 500 | 474,375 | |
Zelis Payments Buyer, Inc., Initial Term Loan, 1 Month LIBOR + 4.750% | 6.452(c) | 09/25/26 | 2,100 | 2,095,626 | |
42,386,466 | |||||
Holding Companies-Diversified 1.1% | |||||
Belfor Holdings, Inc., First Lien Initial Term Loan, 1 Month LIBOR + 4.000% | 5.786(c) | 04/03/26 | 1,995 | 1,999,987 |
9
PGIM Floating Rate Income Fund
Schedule of Investments (unaudited) (continued)
as of November 30, 2019
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Bank Loans(Continued) | |||||
Holding Companies-Diversified (cont’d.) | |||||
Ozark Holdings LLC, Initial Term Loan, 1 Month LIBOR + 3.250% | 4.952 %(c) | 07/03/23 | 1,190 | $1,173,301 | |
Travelport Finance (Luxembourg), First Lien Initial Term Loan, 3 Month LIBOR + 5.000% | 7.104(c) | 05/29/26 | 3,375 | 3,071,250 | |
6,244,538 | |||||
Home Builders 0.1% | |||||
Thor Industries, Inc., Initial USD Term Loan, 1 Month LIBOR + 3.750% | 5.563(c) | 02/02/26 | 580 | 575,730 | |
Home Furnishings 0.6% | |||||
Global Appliance, Inc., Tranche B Term Loan, 1 Month LIBOR + 4.000%^ | 5.710(c) | 09/29/24 | 3,538 | 3,449,215 | |
Insurance 0.5% | |||||
Asurion LLC, Second Lien Replacement B-2 Term Loan, 1 Month LIBOR + 6.500% | 8.202(c) | 08/04/25 | 1,325 | 1,330,797 | |
FHC Health Systems, Inc., Initial Term Loan, 3 Month LIBOR + 4.000% | 6.104(c) | 12/23/21 | 1,593 | 1,588,652 | |
2,919,449 | |||||
Investment Companies 0.4% | |||||
EIG Management Co. LLC, Initial Term Loan, 1 Month LIBOR + 3.750% | 5.452(c) | 02/24/25 | 714 | 711,447 | |
Masergy Holdings, Inc., 2017 Replacement Term Loan (First Lien), 3 Month LIBOR + 3.250% | 5.354(c) | 12/15/23 | 1,507 | 1,461,878 | |
2,173,325 | |||||
Iron/Steel 0.1% | |||||
Helix Acquisition Holdings, Inc., Amendment No 3 Incremental Term Loan, 3 Month LIBOR + 3.750%^ | 5.854(c) | 09/30/24 | 499 | 468,199 |
10
PGIM Floating Rate Income Fund
Schedule of Investments (unaudited) (continued)
as of November 30, 2019
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Bank Loans(Continued) | |||||
Leisure Time 0.8% | |||||
ClubCorp Holdings, Inc., Term B Loan (First Lien), 3 Month LIBOR + 2.750% | 4.854 %(c) | 09/18/24 | 2,180 | $1,982,987 | |
Recess Holdings, Inc., Initial Term Loan (First Lien), 1 Month LIBOR + 3.750% | 5.452(c) | 09/30/24 | 2,373 | 2,336,861 | |
4,319,848 | |||||
Lodging 0.4% | |||||
Caesars Resort Collection LLC, Term B Loan, 1 Month LIBOR + 2.750% | 4.452(c) | 12/23/24 | 2,066 | 2,049,898 | |
Machinery-Construction & Mining 1.3% | |||||
North American Lifting Holdings, Inc., | |||||
Initial Term Loan (First Lien), 3 Month LIBOR + 4.500% | 6.604(c) | 11/27/20 | 8,053 | 6,603,809 | |
Loan (Second Lien), 3 Month LIBOR + 9.000% | 11.104(c) | 11/26/21 | 900 | 508,500 | |
7,112,309 | |||||
Machinery-Diversified 2.6% | |||||
CD&R Hydra Buyer, Inc., | |||||
Initial Term Loan, 1 Month LIBOR + 4.250%^ | 5.952(c) | 12/11/24 | 1,870 | 1,822,966 | |
Second Lien Initial Term Loan, 1 Month LIBOR + 8.000%^ | 9.702(c) | 04/30/26 | 300 | 282,000 | |
Douglas Dynamics LLC, 2017 Replacement Term Loan B, 1 Month LIBOR + 3.000%^ | 4.710(c) | 12/31/21 | 1,228 | 1,221,665 | |
DXP Enterprises, Inc., Initial Term Loan, 1 Month LIBOR + 4.750% | 6.452(c) | 08/29/23 | 710 | 712,276 | |
Engineered Machinery Holdings, Inc., First Lien Initial Term Loan, 3 Month LIBOR + 3.150% | 5.292(c) | 07/19/24 | 2,130 | 2,094,252 | |
Granite US Holdings Corp., Term Loan, 3 Month LIBOR + 5.250% | 7.354(c) | 09/30/26 | 500 | 486,250 | |
Hyster Yale Group, Inc., Term Loan, 1 Month LIBOR + 3.250% | 4.952(c) | 05/30/23 | 838 | 828,318 | |
New VAC US LLC (Germany), Term B Loan, 3 Month LIBOR + 4.000%^ | 6.104(c) | 03/08/25 | 1,625 | 1,300,200 |
11
PGIM Floating Rate Income Fund
Schedule of Investments (unaudited) (continued)
as of November 30, 2019
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Bank Loans(Continued) | |||||
Machinery-Diversified (cont’d.) | |||||
Pro Mach Group, Inc., Initial Term Loan (First Lien), 1 Month LIBOR + 2.750% | 4.472 %(c) | 03/07/25 | 3,271 | $3,160,090 | |
Thermon Holding Corp., Term B Loan, 1 Month LIBOR + 3.750% | 5.531(c) | 10/30/24 | 942 | 942,765 | |
Titan Acquisition Ltd. (Canada), Initial Term Loan, 1 Month LIBOR + 3.000% | 4.702(c) | 03/28/25 | 1,966 | 1,878,480 | |
14,729,262 | |||||
Media 4.3% | |||||
Beasley Mezzanine Holdings LLC, Initial Term Loan, 1 Month LIBOR + 4.000% | 5.716(c) | 11/01/23 | 1,984 | 1,976,415 | |
CSC Holdings LLC, | |||||
2017 Refinancing Term Loan, 1 Month LIBOR + 2.250% | 4.015(c) | 07/17/25 | 985 | 981,894 | |
October 2018 Incremental Term Loan, 1 Month LIBOR + 2.250% | 4.015(c) | 01/15/26 | 2,747 | 2,737,074 | |
Diamond Sports Group LLC, Term Loan, 1 Month LIBOR + 3.250% | 4.960(c) | 08/24/26 | 3,050 | 3,059,531 | |
iHeartCommunications, Inc., Term Loan, 1 Month LIBOR + 4.000% | 5.781(c) | 05/01/26 | 820 | 824,881 | |
Mission Broadcasting, Inc., Term B-3 Loan, 1 Month LIBOR + 2.250% | 4.031(c) | 01/17/24 | 259 | 259,512 | |
Nexstar Broadcasting, Inc., | |||||
Term B-3 Loan, 1 Month LIBOR + 2.250% | 3.952(c) | 01/17/24 | 1,305 | 1,306,013 | |
Term B-4 Loan, 3 Month LIBOR + 2.750% | 4.452(c) | 09/18/26 | 2,200 | 2,207,465 | |
Radiate Holdco LLC, | |||||
Amendment No 2 Incremental Term Loan, 1 Month LIBOR + 3.500% | 5.202(c) | 02/01/24 | 848 | 849,288 | |
Closing Date Term Loan, 1 Month LIBOR + 3.000% | 4.702(c) | 02/01/24 | 3,124 | 3,100,833 | |
Sinclair Television Group, Inc., Term B-2 Loan, 1 Month LIBOR + 2.500% | 4.270(c) | 09/30/26 | 1,000 | 1,003,125 | |
Telesat LLC, Term Loan^ | —(p) | 11/21/26 | 325 | 324,594 |
12
PGIM Floating Rate Income Fund
Schedule of Investments (unaudited) (continued)
as of November 30, 2019
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Bank Loans(Continued) | |||||
Media (cont’d.) | |||||
Univision Communications, Inc., 2017 Replacement Term Loan, 1 Month LIBOR + 2.750% | 4.452 %(c) | 03/15/24 | 3,709 | $3,629,813 | |
WideOpenWest Finance LLC, Refinancing Term B Loan, 1 Month LIBOR + 3.250% | 4.953(c) | 08/18/23 | 2,004 | 1,941,192 | |
24,201,630 | |||||
Metal Fabricate/Hardware 1.0% | |||||
Crosby US Acquisition Corp., First Lien Initial Term Loan, 1 Month LIBOR + 4.750% | 6.466(c) | 06/26/26 | 1,646 | 1,563,581 | |
Dynacast International LLC, Term B-1 Loan (First Lien), 3 Month LIBOR + 3.250%^ | 5.354(c) | 01/28/22 | 3,290 | 3,059,624 | |
WireCo WorldGroup, Inc. (Cayman Islands), First Lien Term Loan, 1 Month LIBOR + 5.000% | 6.702(c) | 09/29/23 | 851 | 805,891 | |
5,429,096 | |||||
Mining 0.4% | |||||
Aleris International, Inc., Initial Term Loan, 1 Month LIBOR + 4.750% | 6.452(c) | 02/27/23 | 1,310 | 1,308,536 | |
Covia Holdings Corp., Initial Term Loan, 3 Month LIBOR + 4.000% | 6.043(c) | 06/02/25 | 1,457 | 1,017,319 | |
2,325,855 | |||||
Miscellaneous Manufacturing 0.3% | |||||
Blount International, Inc., New Refinance Term Loan, 1 - 3 Month LIBOR + 3.750% | 5.946(c) | 04/12/23 | 398 | 397,658 | |
International Textile Group, Inc., First Lien Initial Term Loan, 1 Month LIBOR + 5.000%^ | 6.781(c) | 05/01/24 | 1,439 | 1,122,297 | |
1,519,955 | |||||
Oil & Gas 1.6% | |||||
Ascent Resources Marcellus LLC, Exit Term Loan, 1 Month LIBOR + 6.500%^ | 8.263(c) | 03/30/23 | 250 | 225,000 |
13
PGIM Floating Rate Income Fund
Schedule of Investments (unaudited) (continued)
as of November 30, 2019
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Bank Loans(Continued) | |||||
Oil & Gas (cont’d.) | |||||
California Resources Corp., Term Loan (08/16), 1 Month LIBOR + 10.375% | 12.077 %(c) | 12/31/21 | 1,275 | $740,297 | |
Citgo Holding, Inc., Term Loan, 1 Month LIBOR + 7.000% | 8.702(c) | 08/01/23 | 3,098 | 3,128,980 | |
CITGO Petroleum Corp., Term B Loan, 3 Month LIBOR + 4.500% | 6.604(c) | 07/29/21 | 3,058 | 3,064,405 | |
PowerTeam Services LLC, Initial Term Loan (First Lien), 3 Month LIBOR + 3.250% | 5.354(c) | 03/06/25 | 2,174 | 1,885,769 | |
9,044,451 | |||||
Packaging & Containers 0.2% | |||||
Pregis TopCo Corp., First Lien Initial Term Loan, 1 Month LIBOR + 4.000% | 5.702(c) | 08/03/26 | 400 | 391,500 | |
Trident TPI Holdings, Inc., Tranche B-1 Term Loan, 1 Month LIBOR + 3.000% | 4.702(c) | 10/17/24 | 780 | 735,070 | |
1,126,570 | |||||
Pharmaceuticals 1.8% | |||||
Alphabet Holding Co., Inc., First Lien Initial Term Loan, 1 Month LIBOR + 3.500% | 5.202(c) | 09/26/24 | 1,334 | 1,241,130 | |
Amneal Pharmaceuticals LLC, Initial Term Loan, 1 Month LIBOR + 3.500% | 5.250(c) | 05/04/25 | 3,554 | 2,730,872 | |
Arbor Pharmaceuticals LLC, Initial Term Loan, 3 Month LIBOR + 5.000% | 7.104(c) | 07/05/23 | 2,137 | 1,774,051 | |
Endo Luxembourg Finance Co., Initial Term Loan, 1 Month LIBOR + 4.250% | 6.000(c) | 04/29/24 | 2,464 | 2,250,306 | |
Lannett Co., Inc., Initial Tranche B Term Loan, 1 Month LIBOR + 5.375% | 7.077(c) | 11/25/22 | 2,051 | 1,991,359 | |
9,987,718 | |||||
Pipelines 1.0% | |||||
BCP Renaissance Parent LLC, Initial Term Loan, 2 Month LIBOR + 3.500% | 5.363(c) | 10/31/24 | 1,827 | 1,590,294 | |
Prairie ECI Acquiror, LP, Initial Term Loan, 3 Month LIBOR + 4.750% | 6.854(c) | 03/11/26 | 2,535 | 2,448,386 |
14
PGIM Floating Rate Income Fund
Schedule of Investments (unaudited) (continued)
as of November 30, 2019
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Bank Loans(Continued) | |||||
Pipelines (cont’d.) | |||||
Southcross Energy Partners, LP, | |||||
Initial Term Loan Non-PIK, PRIME + 5.250% | 10.000 %(c) | 08/04/21 | 1,956 | $1,134,284 | |
Term Loan | —(p) | 12/30/19 | 232 | 232,182 | |
Term Loan | —(p) | 12/30/19 | 83 | 83,565 | |
5,488,711 | |||||
Private Equity 0.3% | |||||
HarbourVest Partners, LP, Term Loan, 1 Month LIBOR + 2.250% | 4.015(c) | 03/03/25 | 1,486 | 1,487,016 | |
Real Estate 3.3% | |||||
ASP MCS Acquisition Corp., Initial Term Loan, 1 Month LIBOR + 4.750% | 6.452(c) | 05/20/24 | 1,246 | 550,455 | |
Brookfield Property REIT, Inc., Initial Term B Loan, 3 Month LIBOR + 2.500% | 4.200(c) | 08/27/25 | 9,775 | 9,633,131 | |
DTZ US Borrower LLC, Closing Date Term Loan, 1 Month LIBOR + 3.250% | 4.952(c) | 08/21/25 | 4,742 | 4,750,891 | |
Lightstone HoldCo LLC, | |||||
2018 Refinancing Term B Facility, 1 Month LIBOR + 3.750% | 5.452(c) | 01/30/24 | 4,081 | 3,666,430 | |
2018 Refinancing Term C Facility, 1 Month LIBOR + 3.750% | 5.452(c) | 01/30/24 | 230 | 206,793 | |
18,807,700 | |||||
Real Estate Investment Trusts (REITs) 0.8% | |||||
Blackstone Mortgage Trust, Inc., Term Loan, 1 Month LIBOR + 2.250% | 3.952(c) | 04/23/26 | 1,471 | 1,473,152 | |
iStar, Inc., New Term Loan B, 1 Month LIBOR + 2.750%^ | 4.505(c) | 06/28/23 | 2,113 | 2,118,193 | |
StarWood Property Mortgage LLC, Initial Term Loan, 1 Month LIBOR + 2.500% | 4.202(c) | 07/26/26 | 950 | 951,187 | |
4,542,532 | |||||
Retail 7.2% | |||||
Academy Ltd., Initial Term Loan, 1 Month LIBOR + 4.000% | 5.782(c) | 07/01/22 | 3,025 | 2,256,449 |
15
PGIM Floating Rate Income Fund
Schedule of Investments (unaudited) (continued)
as of November 30, 2019
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Bank Loans(Continued) | |||||
Retail (cont’d.) | |||||
Ashco LLC, Initial Term Loan, 1 Month LIBOR + 5.000% | 6.702 %(c) | 09/25/24 | 4,754 | $4,668,361 | |
At Home Holding III, Inc., Term Loan, 3 Month LIBOR + 3.500%^ | 5.427(c) | 06/03/22 | 3,348 | 2,912,975 | |
Beacon Roofing Supply, Inc., Initial Term Loan, 1 Month LIBOR + 2.250% | 3.952(c) | 01/02/25 | 794 | 787,542 | |
CEC Entertainment, Inc., Term B Loan, 1 Month LIBOR + 6.500% | 8.202(c) | 08/31/26 | 1,350 | 1,284,187 | |
CWGS Group LLC, Term Loan, 1 Month LIBOR + 2.750% | 4.507(c) | 11/08/23 | 2,306 | 2,052,751 | |
EG America LLC (United Kingdom), | |||||
Additional Facility Loan, 3 Month LIBOR + 4.000% | 6.104(c) | 02/07/25 | 1,538 | 1,493,431 | |
Second Lien Facility (USD), 3 Month LIBOR + 8.000%^ | 10.104(c) | 04/20/26 | 908 | 848,688 | |
Harbor Freight Tools USA, Inc., 2018 Initial Term Loan, 1 Month LIBOR + 2.500% | 4.202(c) | 08/18/23 | 3,023 | 2,954,462 | |
Highline AfterMarket Acquisition LLC, Term Loan, 1 Month LIBOR + 3.500%^ | 5.250(c) | 04/28/25 | 653 | 592,398 | |
Hoffmaster Group, Inc., Tranche B-1 Term Loan, 1 Month LIBOR + 4.000%^ | 5.702(c) | 11/21/23 | 2,657 | 2,607,111 | |
Leslie’s Poolmart, Inc., Tranche B-2 Term Loan, 2 Month LIBOR + 3.500% | 5.344(c) | 08/16/23 | 2,205 | 2,050,646 | |
Men’s Wearhouse, Inc., Tranche B-2 Term Loan, 1 Month LIBOR + 3.250% | 5.031(c) | 04/09/25 | 3,701 | 2,461,099 | |
Michaels Stores, Inc., 2018 New Replacement Term B Loan, 1 Month LIBOR + 2.500% | 4.203(c) | 01/30/23 | 2,583 | 2,443,626 | |
Petco Animal Supplies, Inc., Term Loan, 3 Month LIBOR + 3.250% | 5.177(c) | 01/26/23 | 3,381 | 2,660,881 | |
Rough Country LLC, Term Loan (First Lien), 1 Month LIBOR + 3.500% | 5.202(c) | 05/25/23 | 1,789 | 1,752,896 | |
Sally Holdings LLC, Term B-2 Loan | 4.500 | 07/05/24 | 4,046 | 3,934,969 | |
Serta Simmons Bedding LLC, First Lien Initial Term Loan, 1 Month LIBOR + 3.500% | 5.244(c) | 11/08/23 | 2,115 | 1,221,704 | |
Staples, Inc., 2019 Refinancing New Term B-1 Loans, 1 Month LIBOR + 5.000%^ | 6.781(c) | 04/16/26 | 1,866 | 1,839,973 | |
40,824,149 |
16
PGIM Floating Rate Income Fund
Schedule of Investments (unaudited) (continued)
as of November 30, 2019
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Bank Loans(Continued) | |||||
Semiconductors 1.8% | |||||
Bright Bidco BV (Netherlands), 2018 Refinancing Term Loan B, 1 - 3 Month LIBOR + 3.500% | 5.336 %(c) | 06/30/24 | 1,965 | $919,389 | |
Brooks Automation, Inc., Initial Term B Loan, 3 Month LIBOR + 2.500% | 4.460(c) | 10/04/24 | 331 | 327,937 | |
Cabot Microelectronics Corp., Initial Term Loan, 1 Month LIBOR + 2.250% | 4.000(c) | 11/17/25 | 1,106 | 1,110,097 | |
Cohu, Inc., Initial Term B Loan, 1 - 2 Month LIBOR + 3.000%^ | 5.200(c) | 10/01/25 | 2,346 | 2,269,997 | |
Macom Technology Solutions Holdings, Inc., Initial Term Loan, 1 Month LIBOR + 2.250% | 3.952(c) | 05/17/24 | 2,939 | 2,654,883 | |
Microchip Technology, Inc., Initial Term Loan, 1 Month LIBOR + 2.000% | 3.710(c) | 05/29/25 | 1,477 | 1,476,769 | |
Natel Engineering Co., Inc., Initial Term Loan, 1 Month LIBOR + 5.000%^ | 6.781(c) | 04/30/26 | 1,791 | 1,719,360 | |
10,478,432 | |||||
Software 6.6% | |||||
Boxer Parent Co., Inc., Initial Dollar Term Loan, 1 Month LIBOR + 4.250% | 5.952(c) | 10/02/25 | 4,285 | 4,113,660 | |
Bracket Intermediate Holding Corp., First Lien Initial Term Loan, 3 Month LIBOR + 4.250%^ | 6.349(c) | 09/05/25 | 1,059 | 1,040,094 | |
Dun & Bradstreet Corp., Initial Term Loan, 1 Month LIBOR + 5.000% | 6.700(c) | 02/06/26 | 2,850 | 2,863,062 | |
EagleView Technology Corp., First Lien Term Loan, 3 Month LIBOR + 3.500% | 5.409(c) | 08/14/25 | 2,978 | 2,783,963 | |
Evergreen Skills Lux Sarl (Luxembourg), First Lien Initial Term Loan, 3 Month LIBOR + 4.750% | 6.946(c) | 04/28/21 | 1,781 | 1,364,698 | |
Exela Intermediate LLC, 2018 Repriced Term Loan, 3 Month LIBOR + 6.500% | 8.849(c) | 07/12/23 | 2,934 | 1,114,909 | |
Finastra USA, Inc., | |||||
Dollar Term Loan (Second Lien), 3 Month LIBOR + 7.250% | 9.446(c) | 06/13/25 | 1,650 | 1,579,875 | |
First Lien Dollar Term Loan, 3 Month LIBOR + 3.500% | 5.696(c) | 06/13/24 | 3,680 | 3,592,377 | |
Helios Software Holdings, Inc., Initial Dollar Term Loan, 3 Month LIBOR + 4.250% | 6.183(c) | 10/24/25 | 800 | 789,666 | |
MA Financeco LLC (United Kingdom), Tranche B-3 Term Loan, 1 Month LIBOR + 2.500% | 4.202(c) | 06/21/24 | 229 | 227,013 |
17
PGIM Floating Rate Income Fund
Schedule of Investments (unaudited) (continued)
as of November 30, 2019
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Bank Loans(Continued) | |||||
Software (cont’d.) | |||||
Micro Holding Corp., Amendment No. 2 Initial Term Loan (First Lien), 1 Month LIBOR + 3.750% | 5.452 %(c) | 09/15/24 | 2,375 | $2,362,304 | |
Quest Software US Holdings, Inc., Initial Term Loan (First Lien), 3 Month LIBOR + 4.250% | 6.177(c) | 05/16/25 | 2,001 | 1,989,754 | |
Rackspace Hosting, Inc., Term B Loan (First Lien), 2 - 3 Month LIBOR + 3.000% | 4.871(c) | 11/03/23 | 4,192 | 3,923,872 | |
SCS Holdings I, Inc., Initial Term Loan, 3 Month LIBOR + 4.250% | 6.354(c) | 07/01/26 | 2,509 | 2,506,359 | |
Seattle Escrow Borrower LLC, Initial Term Loan, 1 Month LIBOR + 2.500% | 4.202(c) | 06/21/24 | 1,543 | 1,533,075 | |
SS&C Technologies Holdings, Inc., | |||||
Term B-3 Loan, 1 Month LIBOR + 2.250% | 3.952(c) | 04/16/25 | 664 | 667,436 | |
Term B-4 Loan, 1 Month LIBOR + 2.250% | 3.952(c) | 04/16/25 | 432 | 434,459 | |
ThoughtWorks, Inc., Refinancing Term Loan, 1 Month LIBOR + 4.000%^ | 5.702(c) | 10/11/24 | 895 | 895,466 | |
TIBCO Software, Inc., Term Loan B-2, 1 Month LIBOR + 4.000% | 5.780(c) | 06/30/26 | 1,960 | 1,962,919 | |
Ultimate Software Group, Inc., First Lien Initial Term Loan, 1 Month LIBOR + 3.750% | 5.452(c) | 05/04/26 | 1,325 | 1,330,963 | |
37,075,924 | |||||
Storage/Warehousing 0.3% | |||||
Contanda LLC, Term Loan, 3 Month LIBOR + 3.500%^ | 5.604(c) | 02/27/20 | 1,775 | 1,770,562 | |
Telecommunications 8.4% | |||||
Avaya, Inc., Tranche B Term Loan, 1 Month LIBOR + 4.250% | 6.015(c) | 12/15/24 | 2,562 | 2,436,732 | |
Connect Finco SARL, Term Loan | —(p) | 09/23/26 | 1,800 | 1,790,438 | |
Consolidated Communications, Inc., 2016 Initial Term Loan, 1 Month LIBOR + 3.000% | 4.710(c) | 10/05/23 | 3,955 | 3,638,609 | |
Digicel International Finance Ltd. (Saint Lucia), First Lien Initial Term B Loan, 3 Month LIBOR + 3.250% | 5.340(c) | 05/27/24 | 2,498 | 2,087,348 |
18
PGIM Floating Rate Income Fund
Schedule of Investments (unaudited) (continued)
as of November 30, 2019
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Bank Loans(Continued) | |||||
Telecommunications (cont’d.) | |||||
Global Tel Link Corp., | |||||
First Lien Term Loan, 1 Month LIBOR + 4.250% | 5.952 %(c) | 11/29/25 | 3,673 | $3,114,746 | |
Second Lien Term Loan, 1 Month LIBOR + 8.250% | 9.952(c) | 11/27/26 | 825 | 666,600 | |
GTT Communications, Inc., Closing Date U.S. Term Loan, 1 Month LIBOR + 2.750% | 4.450(c) | 05/30/25 | 5,382 | 4,100,687 | |
IPC Corp., Term B-1 Loan (First Lien), 3 Month LIBOR + 4.500% | 6.760(c) | 08/06/21 | 757 | 620,993 | |
Iridium Satellite LLC, Initial Term Loan, 1 Month LIBOR + 3.750% | 5.452(c) | 11/04/26 | 1,100 | 1,110,657 | |
MLN US HoldCo LLC, Term B Loan (First Lien), 1 Month LIBOR + 4.500% | 6.281(c) | 11/30/25 | 2,358 | 2,070,157 | |
Securus Technologies Holdings, Inc., | |||||
Initial Loan (Second Lien), 1 Month LIBOR + 8.250% | 9.952(c) | 11/01/25 | 750 | 348,750 | |
Initial Term Loan (First Lien), 1 Month LIBOR + 4.500% | 6.202(c) | 11/01/24 | 2,024 | 1,443,944 | |
Speedcast International Ltd. (Australia), Initial Term Loan, 3 Month LIBOR + 2.750%^ | 4.854(c) | 05/15/25 | 2,916 | 2,653,196 | |
Sprint Communications, Inc., Initial Term Loan, 1 Month LIBOR + 2.500% | 4.250(c) | 02/02/24 | 14,133 | 13,956,544 | |
West Corp., | |||||
Incremental B1 Term Loan, 1 - 3 Month LIBOR + 3.500% | 5.314(c) | 10/10/24 | 2,990 | 2,345,365 | |
Initial Term B Loan, 1 - 3 Month LIBOR + 4.000% | 5.814(c) | 10/10/24 | 1,987 | 1,613,100 | |
Xplornet Communications, Inc. (Canada), New Term B Loan, 3 Month LIBOR + 4.000% | 6.104(c) | 09/09/21 | 3,739 | 3,730,142 | |
47,728,008 | |||||
Textiles 0.3% | |||||
ASP Unifrax Holdings, Inc., USD Term Loan (First Lien), 3 Month LIBOR + 3.750%^ | 5.854(c) | 12/12/25 | 1,886 | 1,565,585 | |
Transportation 1.1% | |||||
Daseke Co., Inc., Replacement Term Loan, 1 Month LIBOR + 5.000% | 6.702(c) | 02/27/24 | 3,367 | 3,148,336 | |
Genesee & Wyoming, Inc., Term Loan | —(p) | 11/06/26 | 1,000 | 1,006,562 |
19
PGIM Floating Rate Income Fund
Schedule of Investments (unaudited) (continued)
as of November 30, 2019
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Bank Loans(Continued) | |||||
Transportation (cont’d.) | |||||
Savage Enterprises LLC, Initial Loan, 1 Month LIBOR + 4.000% | 5.770 %(c) | 08/01/25 | 1,828 | $1,844,036 | |
Transplace Holdings, Inc., Initial Loan (Second Lien), 1 Month LIBOR + 8.750%^ | 10.452(c) | 10/06/25 | 204 | 191,744 | |
United Road Services, Inc., Initial Term Loan, 1 Month LIBOR + 5.750%^ | 7.452(c) | 09/01/24 | 298 | 267,863 | |
6,458,541 | |||||
Total Bank Loans (cost $502,341,434) | 470,922,687 | ||||
Corporate Bonds 7.4% | |||||
Aerospace & Defense 0.5% | |||||
Bombardier, Inc. (Canada), | |||||
Sr. Unsec’d. Notes, 144A | 7.500 | 12/01/24 | 450 | 462,033 | |
Sr. Unsec’d. Notes, 144A | 7.875 | 04/15/27 | 2,450 | 2,461,548 | |
2,923,581 | |||||
Agriculture 0.1% | |||||
Vector Group Ltd., Sr. Sec’d. Notes, 144A | 6.125 | 02/01/25 | 700 | 669,343 | |
Auto Parts & Equipment 0.5% | |||||
Adient Global Holdings Ltd., Gtd. Notes, 144A | 4.875 | 08/15/26 | 2,000 | 1,703,914 | |
American Axle & Manufacturing, Inc., Gtd. Notes(a) | 6.250 | 04/01/25 | 850 | 867,567 | |
2,571,481 | |||||
Chemicals 0.2% | |||||
Chemours Co. (The), Gtd. Notes | 5.375 | 05/15/27 | 1,000 | 840,697 |
20
PGIM Floating Rate Income Fund
Schedule of Investments (unaudited) (continued)
as of November 30, 2019
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds(Continued) | |||||
Diversified Financial Services 0.3% | |||||
Nationstar Mortgage Holdings, Inc., Gtd. Notes, 144A | 9.125 % | 07/15/26 | 1,290 | $1,429,981 | |
Entertainment 0.5% | |||||
AMC Entertainment Holdings, Inc., Gtd. Notes(a) | 5.875 | 11/15/26 | 3,000 | 2,703,021 | |
Home Builders 0.7% | |||||
Ashton Woods USA LLC/Ashton Woods Finance Co., Sr. Unsec’d. Notes, 144A | 9.875 | 04/01/27 | 2,230 | 2,503,123 | |
New Home Co., Inc. (The), Gtd. Notes | 7.250 | 04/01/22 | 1,575 | 1,499,441 | |
4,002,564 | |||||
Media 0.4% | |||||
DISH DBS Corp., Gtd. Notes(a) | 7.750 | 07/01/26 | 2,250 | 2,332,799 | |
Oil & Gas 1.9% | |||||
Alta Mesa Holdings LP/Alta Mesa Finance Services Corp., Gtd. Notes | 7.875 | 12/15/24(d) | 6,725 | 544,580 | |
Antero Resources Corp., | |||||
Gtd. Notes | 5.125 | 12/01/22 | 1,250 | 1,015,805 | |
Gtd. Notes | 5.625 | 06/01/23 | 1,000 | 706,505 | |
CNX Resources Corp., | |||||
Gtd. Notes | 5.875 | 04/15/22 | 1,200 | 1,171,241 | |
Gtd. Notes, 144A | 7.250 | 03/14/27 | 1,300 | 1,093,450 | |
Extraction Oil & Gas, Inc., | |||||
Gtd. Notes, 144A | 5.625 | 02/01/26 | 3,321 | 1,552,991 | |
Gtd. Notes, 144A | 7.375 | 05/15/24 | 500 | 226,671 | |
MEG Energy Corp. (Canada), Gtd. Notes, 144A | 6.375 | 01/30/23 | 2,925 | 2,866,253 | |
Range Resources Corp., | |||||
Gtd. Notes(a) | 4.875 | 05/15/25 | 1,500 | 1,223,139 | |
Gtd. Notes(a) | 5.000 | 03/15/23 | 675 | 586,402 | |
10,987,037 |
21
PGIM Floating Rate Income Fund
Schedule of Investments (unaudited) (continued)
as of November 30, 2019
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds(Continued) | |||||
Retail 0.8% | |||||
Ferrellgas Partners LP/Ferrellgas Partners Finance Corp., | |||||
Sr. Unsec’d. Notes | 8.625 % | 06/15/20 | 63 | $41,930 | |
Sr. Unsec’d. Notes | 8.625 | 06/15/20 | 925 | 618,067 | |
L Brands, Inc., Gtd. Notes | 6.750 | 07/01/36 | 2,100 | 1,813,389 | |
Rite Aid Corp., Gtd. Notes, 144A(a) | 6.125 | 04/01/23 | 2,700 | 2,229,884 | |
4,703,270 | |||||
Telecommunications 1.5% | |||||
Digicel Ltd. (Jamaica), | |||||
Gtd. Notes, 144A | 6.750 | 03/01/23 | 2,000 | 1,000,091 | |
Sr. Unsec’d. Notes, 144A | 6.000 | 04/15/21 | 1,375 | 1,000,116 | |
Embarq Corp., Sr. Unsec’d. Notes | 7.995 | 06/01/36 | 3,750 | 3,807,870 | |
Intelsat Jackson Holdings SA (Luxembourg), Gtd. Notes | 5.500 | 08/01/23 | 1,000 | 795,918 | |
West Corp., Gtd. Notes, 144A(a) | 8.500 | 10/15/25 | 2,675 | 2,143,637 | |
8,747,632 | |||||
Total Corporate Bonds (cost $45,155,707) | 41,911,406 |
Shares | |||||
Common Stocks 0.2% | |||||
Commercial Services & Supplies 0.0% | |||||
Tweddle Group, Inc.^ | 2,705 | 27 | |||
Oil, Gas & Consumable Fuels 0.1% | |||||
Ascent Resources - Marcellus LLC (Class A Stock)^* | 182,358 | 373,834 |
22
PGIM Floating Rate Income Fund
Schedule of Investments (unaudited) (continued)
as of November 30, 2019
Description | Shares | Value | |||
Common Stocks(Continued) | |||||
Software 0.1% | |||||
Avaya Holdings Corp.* | 32,696 | $417,528 | |||
Total Common Stocks (cost $1,057,511) | 791,389 |
Units | |||||
Warrants* 0.0% | |||||
Oil, Gas & Consumable Fuels | |||||
Ascent Resources - Marcellus LLC, 1st Lien, expiring 03/30/23^ | 46,500 | 1,395 | |||
Ascent Resources - Marcellus LLC, 2nd Lien Tranche A, expiring 03/30/23^ | 18,026 | 2,253 | |||
Ascent Resources - Marcellus LLC, 2nd Lien Tranche B, expiring 03/30/23^ | 14,021 | 1,052 | |||
Total Warrants (cost $6,431) | 4,700 | ||||
Total Long-Term Investments (cost $577,261,083) | 542,089,369 |
Shares | |||||
Short-Term Investments 1.9% | |||||
Affiliated Mutual Funds | |||||
PGIM Core Ultra Short Bond Fund(w) | 694,608 | 694,608 | |||
PGIM Institutional Money Market Fund (cost $10,205,303; includes $10,183,050 of cash collateral for securities on loan)(b)(w) | 10,204,671 | 10,205,692 | |||
Total Short-Term Investments (cost $10,899,911) | 10,900,300 | ||||
TOTAL INVESTMENTS 97.9% (cost $588,160,994) | 552,989,669 | ||||
Other assets in excess of liabilities(z) 2.1% | 12,045,190 | ||||
Net Assets 100.0% | $565,034,859 |
23
PGIM Floating Rate Income Fund
Schedule of Investments (unaudited) (continued)
as of November 30, 2019
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. | |
A—Annual payment frequency for swaps | |
CLO—Collateralized Loan Obligation | |
LIBOR—London Interbank Offered Rate | |
Q—Quarterly payment frequency for swaps | |
REITs—Real Estate Investment Trust | |
S—Semiannual payment frequency for swaps | |
USOIS—United States Overnight Index Swap |
* | Non-income producing security. |
# | Principal or notional amount is shown in U.S. dollars unless otherwise stated. |
^ | Indicates a Level 3 security. The aggregate value of Level 3 securities is $76,982,971 and 13.6% of net assets. |
(a) | All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $10,310,447; cash collateral of $10,183,050 (included in liabilities) was received with which the Fund purchased highly liquid short-term investments. In addition, as of November 30, 2019, $318,571 of cash collateral has been segregated to cover the securities lending requirements. Securities on loan are subject to contractual netting arrangements. |
(b) | Represents security purchased with cash collateral received for securities on loan and includes dividend reinvestment. |
(c) | Variable rate instrument. The interest rate shown reflects the rate in effect at November 30, 2019. |
(d) | Represents issuer in default on interest payments and/or principal repayment. Non-income producing security. Such securities may be post-maturity. |
(p) | Interest rate not available as of November 30, 2019. |
(w) | PGIM Investments LLC, the manager of the Fund, also serves as manager of the PGIM Core Ultra Short Bond Fund and PGIM Institutional 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: |
Interest rate swap agreements outstanding at November 30, 2019:
Notional Amount (000)# | Termination Date | Fixed Rate | Floating Rate | Value at Trade Date | Value at November 30, 2019 | Unrealized Appreciaton (Depreciation) | ||||||||
Centrally Cleared Interest Rate Swap Agreements: | ||||||||||||||
4,800 | 05/11/21 | 2.350%(A) | 1 Day USOIS(2)(A) | $62,520 | $78,948 | $16,428 | ||||||||
9,350 | 02/02/22 | 1.994%(S) | 3 Month LIBOR(1)(Q) | (8,646) | (121,711) | (113,065) | ||||||||
4,890 | 05/11/24 | 2.139%(S) | 3 Month LIBOR(2)(Q) | 96,571 | 120,918 | 24,347 | ||||||||
16,255 | 05/11/24 | 2.250%(A) | 1 Day USOIS(2)(A) | 714,933 | 668,961 | (45,972) | ||||||||
1,200 | 05/11/29 | 2.000%(S) | 3 Month LIBOR(1)(Q) | 103,312 | (33,567) | (136,879) | ||||||||
1,760 | 05/11/29 | 2.400%(A) | 1 Day USOIS(1)(A) | (190,744) | (150,518) | 40,226 | ||||||||
$777,946 | $563,031 | $(214,915) |
(1) | The Fund pays the fixed rate and receives the floating rate. |
(2) | The Fund pays the floating rate and receives the fixed rate. |
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).
24