PGIM High Yield Bond Fund, Inc. (NYSE:ISD) (the “Fund”), a
diversified, closed-end management investment company, announced
today its unaudited investment results for the quarter ended
November 30, 2019.
As of November 30, 2019
As of August 31, 2019
As of November 30, 2018
As of May 31, 2018
Net Assets
$551,912,385
$553,885,022
$530,731,364
$541,660,251
Loan Outstanding
$180,000,000
$180,000,000
$190,000,000
$165,000,000
Shares Outstanding
33,256,724
33,256,724
33,256,724
33,256,724
Net Asset Value (“NAV”) Per Share (a)
$16.60
$16.65
$15.96
$16.29
Market Price Per Share (b)
$14.95
$14.44
$13.45
$14.07
Premium / (Discount) to NAV (c)
-9.9%
-13.3%
-15.7%
-13.6%
Undistributed / (Overdistributed) Net
Investment Income (d)
$8,730
$981,817
$580,104
$648,719
Undistributed / (Overdistributed) Net
Investment Income Per Share
$0.00
$0.03
$0.02
$0.02
Quarter Ended
November 30, 2019
Quarter Ended
August 31, 2019
Quarter Ended
November 30, 2018
Quarter Ended
May 31, 2018
Quarterly
Earnings
Net Investment Income
$9,502,781
$10,120,601
$8,396,985
$8,573,288
Net Realized and Unrealized Gain
(Loss)
($738,376)
$14,611,295
($13,293,778)
($4,371,851)
Net Increase / (Decrease) in Net Assets
From Operations
$8,764,405
$24,731,896
($4,896,793)
$4,201,437
Quarterly Earnings
Per Common Share Outstanding
Net Investment Income
$0.29
$0.30
$0.25
$0.26
Net Realized and Unrealized Gain /
(Loss)
($0.02)
$0.44
($0.40)
($0.13)
Net Increase / (Decrease) in Net Assets
From Operations
$0.27
$0.74
($0.15)
$0.13
This financial data is unaudited. Amounts do not reflect
adjustments for Generally Accepted Accounting Principles, including
those relating to amortization of premiums on securities held, and
may be updated periodically.
Notes:
- Net Asset Value (“NAV”) Per Share is total assets less total
liabilities divided by the number of shares outstanding.
- Market Price Per Share is the closing price on the New York
Stock Exchange.
- Premium / (Discount) to NAV is the % difference between the
market price and the NAV price.
- Overdistributed amounts may be funded by capital gains on
portfolio securities or through return of stockholders’ capital.
Undistributed / (Overdistributed) Net Investment Income (“UNII”)
(“ONII”) represents the balance to date of a fund’s net investment
income less its distributions. Includes prior year UNII of $461,328
for the fiscal year ended 5/31/19 and the UNII of $648,719 for the
fiscal year ended 5/31/18.
The Fund files its annual and semi-annual stockholders reports
on Form N-CSR with the Securities and Exchange Commission (the
“Commission”), which includes its complete schedule of investments.
The Fund also files Form N-PORT with the Commission within 60 days
of the end of each fiscal quarter, including the Fund’s complete
schedule of investments as of its first and third fiscal quarters.
The Fund’s schedule of portfolio holdings is also available on the
Fund’s website as of the end of each month no sooner than 15 days
after the end of the month. The Fund’s filings on Form N-PORT and
stockholder reports on Form N-CSR are available on the Commission’s
website at sec.gov. To obtain additional information or to make
other inquiries pertaining to the Fund, stockholders can call (800)
451-6788 (toll-free).
About PGIM and Prudential Financial, Inc.
With 16 consecutive years of positive third-party institutional
net flows, PGIM, the global asset management business of Prudential
Financial, Inc. (NYSE:PRU), ranks among the top 10 largest asset
managers in the world* with more than $1.3 trillion in assets under
management as of Sept. 30, 2019. With offices in 15 countries,
PGIM’s businesses offer a range of investment solutions for retail
and institutional investors around the world across a broad range
of asset classes, including public fixed income, private fixed
income, fundamental equity, quantitative equity, real estate and
alternatives. For more information about PGIM, visit pgim.com.
Prudential’s additional businesses offer a variety of products
and services, including life insurance, annuities and
retirement-related services. For more information about Prudential,
please visit news.prudential.com.
Prudential Financial, Inc. of the United States is not
affiliated in any manner with Prudential plc, incorporated in the
United Kingdom or with Prudential Assurance Company, a subsidiary
of M&G plc, incorporated in the United Kingdom.
Data and commentary provided in this press release are for
informational purposes only. PGIM Investments LLC, the Investment
Manager of the Funds, and its affiliates do not engage in selling
shares of the Funds. The Funds are subadvised by PGIM Fixed Income,
a business unit of PGIM, Inc. and an affiliate of the investment
manager.
Each Fund is a diversified, closed-end management investment
company managed by PGIM Investments LLC and sub-advised by PGIM
Fixed Income, a business unit of PGIM, Inc., and an affiliate of
the investment manager.
These Funds invest in high yield (“junk”) bonds, which
are subject to greater credit and market risks, including greater
risk of default; derivative securities, which may carry
market, credit, and liquidity risks; foreign securities,
which are subject to currency fluctuation and political
uncertainty; and emerging markets securities, which are
subject to greater volatility and price declines. Fixed income
investments are subject to interest rate risk, where their
value will decline as interest rates rise. There are fees and
expenses involved with investing in these Funds. Diversification
does not assure a profit or protect against a loss in declining
markets. There is no guarantee that dividends or distributions will
be paid.
An investment in a closed-end fund’s common stock may be
speculative in that it involves a high degree of risk, should not
constitute a complete investment program, and may result in loss of
principal. Each closed-end fund will have its own unique investment
strategy, risks, charges and expenses that need to be considered
before investing.
This material is being provided for informational or educational
purposes only and does not take into account the investment
objectives or financial situation of any client or prospective
clients. The information is not intended as investment advice and
is not a recommendation about managing or investing your retirement
savings. Clients seeking information regarding their particular
investment needs should contact a financial professional. Please
consult with a qualified investment professional if you wish to
obtain investment advice.
PGIM Fixed Income is a unit of PGIM, Inc., which is a registered
investment advisor and Prudential Financial company. © 2020
Prudential Financial, Inc. and its related entities. PGIM and the
PGIM logo are service marks of Prudential Financial, Inc. and its
related entities, registered in many jurisdictions worldwide.
Investment products are not insured by the FDIC or any federal
government agency, may lose value, and are not a deposit of or
guaranteed by any bank or any bank affiliate.
*Pensions & Investments’ Top Money Managers list, May 27,
2019; based on Prudential Financial total worldwide institutional
assets under management as of Dec. 31, 2018. Assets under
management (AUM) are based on company estimates and are subject to
change.
1015465-00005-00 Expiration: 1/31/2021
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version on businesswire.com: https://www.businesswire.com/news/home/20200109005849/en/
MEDIA: Kylie Scott (973)-802-5600
kylie.scott@pgim.com
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