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
February 28, 2019.
As of As of As
of
February 28,
2019
November 30,
2018
February 28,
2018
Net Assets $541,253,712 $530,731,364 $545,939,279 Loan Outstanding
$175,000,000 $190,000,000 $175,000,000 Shares Outstanding
33,256,724 33,256,724 33,256,724 Net Asset Value ("NAV") Per Share
(a) $16.28 $15.96 $16.42 Market Price Per Share (b) $14.14 $13.45
$14.36 Premium / (Discount) to NAV (c) -13.1% -15.7% -12.5%
Undistributed / (Overdistributed) Net Investment Income (d)
$471,482 $580,104 $1,283,683 Undistributed / (Overdistributed) Net
Investment Income Per Share $0.01 $0.02 $0.04
Quarter
Ended Quarter Ended Quarter Ended February 28,
2019 November 30, 2018 February 28, 2018
Quarterly
Earnings
Net Investment Income $8,371,843 $8,396,985 $8,457,840 Net Realized
and Unrealized Gain (Loss) $10,630,970 ($13,293,778)
($3,814,916) Net Increase / (Decrease) in Net Assets From
Operations $19,002,813 ($4,896,793) $4,642,924
Quarterly Earnings
Per Common Share Outstanding
Net Investment Income $0.25 $0.25 $0.25 Net Realized and Unrealized
Gain / (Loss) $0.32 ($0.40) ($0.11) Net Increase /
(Decrease) in Net Assets From Operations $0.57 ($0.15)
$0.14
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:
(a) Net Asset Value (“NAV”) Per Share is total assets less
total liabilities divided by the number of shares outstanding. (b)
Market Price Per Share is the closing price on the New York Stock
Exchange. (c) Premium / (Discount) to NAV is the % difference
between the market price and the NAV price. (d) Overdistributed
amounts may be funded by capital gains on portfolio securities or
through return of shareholder’s capital. Undistributed Net
Investment Income ("UNII") represents the balance to date of a
fund’s net investment income less its distributions. Includes prior
year UNII of $648,719 for the fiscal year ended 5/31/18 and
$2,436,730 for the fiscal year ended 5/31/17.
The Fund files its annual and semi-annual shareholders reports
on Form N-CSR, as well as complete schedule of investments with the
Securities and Exchange Commission (the “Commission”) for the first
and third quarters of each fiscal year on Form N-Q. The Fund’s
Forms N-Q are available on the Commission’s website at
http://www.sec.gov. Beginning with reporting periods on or after
March 31, 2019, Form N-PORT will replace Form N-Q. Form N-PORT will
be filed with the Commission quarterly and the Fund’s schedule of
investments as of its first and third quarters of each fiscal year
will be made publicly available 60 days after the end of each
quarter. To obtain information on Form N-Q, Form N-Port or annual
and semi-annual shareholder reports, shareholders can call (800)
451-6788 (toll-free). You may also call this number to request
additional information or to make other inquiries pertaining to the
Fund.
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 trillion in assets under
management as of Dec. 31, 2018. 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
fundamental equity, quantitative equity, public fixed income,
private fixed income, real estate and commercial mortgages. Its
businesses have offices in 15 countries across four continents. 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.
Data and commentary provided in this press release are for
informational purposes only. PGIM Investments LLC, the Investment
Manager of the Fund, and its affiliates do not engage in selling
shares of the Fund. The Fund is sub-advised by PGIM Fixed Income, a
business unit of PGIM, Inc. and an affiliate of the Investment
Manager.
The 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.
The Fund invests 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 the Fund. 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 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.
PGIM Fixed Income is a unit of PGIM, Inc., which is a registered
investment adviser and Prudential Financial company. © 2019
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 28,
2018; based on Prudential Financial total worldwide institutional
assets under management as of Dec. 31, 2017. Assets under
management (AUM) are based on company estimates and are subject to
change.
1015465-00002-00 Expiration: 3/31/2020
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version on businesswire.com: https://www.businesswire.com/news/home/20190404005037/en/
MEDIA: Lizzie
Lowe(973)-802-8786lizzie.lowe@prudential.com
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