PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Long-Term Investments 125.0%          
Asset-Backed Securities 4.4%
Cayman Islands 
Atlas Static Senior Loan Fund Ltd.,
Series 2022-01A, Class A, 144A, 3 Month SOFR + 2.600% (Cap N/A, Floor 2.600%) 		7.994 %(c) 07/15/30   4,307  $4,329,971
Carlyle Global Market Strategies CLO Ltd.,
Series 2014-01A, Class A1R2, 144A, 3 Month SOFR + 1.232% (Cap N/A, Floor 0.970%) 		6.634(c) 04/17/31   1,903 1,896,058
Madison Park Funding Ltd.,
Series 2015-18A, Class ARR, 144A, 3 Month SOFR + 1.202% (Cap N/A, Floor 0.940%) 		6.614(c) 10/21/30   4,399 4,375,410
Neuberger Berman CLO Ltd.,
Series 2014-17A, Class AR2, 144A, 3 Month SOFR + 1.292% (Cap N/A, Floor 1.030%) 		6.704(c) 04/22/29   2,170 2,163,188
OFSI BSL Ltd.,
Series 2023-12A, Class A1, 144A, 3 Month SOFR + 2.400% (Cap N/A, Floor 2.400%) 		7.816(c) 01/20/35   2,500 2,517,515
Voya CLO Ltd.,          
Series 2013-02A, Class A1R, 144A, 3 Month SOFR + 1.232% (Cap N/A, Floor 0.970%) 6.610(c) 04/25/31   1,320 1,315,033
Series 2015-03A, Class A1R, 144A, 3 Month SOFR + 1.452% (Cap N/A, Floor 1.452%) 6.867(c) 10/20/31   4,900 4,881,756
     
 
Total Asset-Backed Securities
(cost $21,317,852) 		21,478,931
Convertible Bond 0.0%
Jamaica 
Digicel Group Holdings Ltd.,
Sub. Notes, 144A, Cash coupon 7.000% (original cost $8,603; purchased 06/23/20 - 04/03/23)(f)
(cost $8,603) 		7.000 11/16/23(d)(oo)   45 2,261
Corporate Bonds 95.1%
Argentina 0.0%
YPF SA,
Sr. Unsec’d. Notes, 144A 		8.500 03/23/25   173 159,040
1
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Australia 0.1%
Mineral Resources Ltd.,
Sr. Unsec’d. Notes, 144A 		9.250 % 10/01/28   650  $650,000
Brazil 3.7%
Banco do Brasil SA,
Sr. Unsec’d. Notes, 144A(aa) 		4.875 01/11/29   1,250 1,153,125
Banco Votorantim SA,
Sr. Unsec’d. Notes, 144A, MTN(aa) 		4.500 09/24/24   1,120 1,094,374
Braskem Netherlands Finance BV,          
Gtd. Notes(aa) 4.500 01/31/30   2,000 1,532,400
Gtd. Notes, 144A(aa) 8.500 01/12/31   815 763,003
     
 
CSN Inova Ventures,
Gtd. Notes 		6.750 01/28/28   750 686,025
Embraer Netherlands Finance BV,          
Gtd. Notes, 144A(aa) 6.950 01/17/28   2,055 2,034,409
Sr. Unsec’d. Notes, 144A(aa) 7.000 07/28/30   1,180 1,147,845
     
 
Globo Comunicacao e Participacoes SA,
Sr. Unsec’d. Notes 		4.875 01/22/30   1,000 795,000
JSM Global Sarl,
Gtd. Notes 		4.750 10/20/30(d)   1,600 240,000
Light Servicos de Eletricidade SA/Light Energia SA,
Gtd. Notes, 144A(aa) 		4.375 06/18/26(d)   1,500 675,000
MARB BondCo PLC,
Gtd. Notes, 144A(aa) 		3.950 01/29/31   1,330 967,575
MercadoLibre, Inc.,
Gtd. Notes(aa) 		3.125 01/14/31   1,326 1,002,864
Minerva Luxembourg SA,
Gtd. Notes, 144A 		8.875 09/13/33   1,000 979,450
NBM US Holdings, Inc.,
Gtd. Notes, 144A(aa) 		7.000 05/14/26   1,000 992,470
Nexa Resources SA,
Gtd. Notes 		6.500 01/18/28   1,000 933,750
Petrobras Global Finance BV,
Gtd. Notes(aa) 		6.500 07/03/33   1,165 1,081,237
Rumo Luxembourg Sarl,
Gtd. Notes 		5.250 01/10/28   800 730,400
2
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Brazil (cont’d.)
     
Sitios Latinoamerica SAB de CV,
Gtd. Notes 		5.375 % 04/04/32   500  $416,250
Tupy Overseas SA,
Gtd. Notes 		4.500 02/16/31   1,000 780,000
          18,005,177
Canada 4.5%
1011778 BC ULC/New Red Finance, Inc.,          
Sec’d. Notes, 144A(aa) 4.000 10/15/30   575 468,987
Sr. Sec’d. Notes, 144A(aa) 3.500 02/15/29   1,965 1,675,162
     
 
Athabasca Oil Corp.,
Sec’d. Notes, 144A(aa) 		9.750 11/01/26   1,765 1,822,362
Bombardier, Inc.,          
Sr. Unsec’d. Notes, 144A(aa) 6.000 02/15/28   1,950 1,720,875
Sr. Unsec’d. Notes, 144A(aa) 7.125 06/15/26   1,075 1,031,224
Sr. Unsec’d. Notes, 144A 7.500 03/15/25   103 102,614
Sr. Unsec’d. Notes, 144A(aa) 7.500 02/01/29   1,025 949,406
Sr. Unsec’d. Notes, 144A(aa) 7.875 04/15/27   2,300 2,213,750
Brookfield Residential Properties, Inc./Brookfield
Residential US LLC, 		         
Gtd. Notes, 144A(aa) 4.875 02/15/30   1,275 969,000
Sr. Unsec’d. Notes, 144A 5.000 06/15/29   475 370,500
GFL Environmental, Inc.,          
Gtd. Notes, 144A 4.000 08/01/28   100 85,750
Gtd. Notes, 144A(aa) 4.375 08/15/29   900 767,250
Hudbay Minerals, Inc.,          
Gtd. Notes, 144A 4.500 04/01/26   575 532,393
Gtd. Notes, 144A(aa) 6.125 04/01/29   1,210 1,079,925
     
 
Kronos Acquisition Holdings, Inc./KIK Custom Products, Inc.,
Sr. Sec’d. Notes, 144A 		5.000 12/31/26   200 181,000
Mattamy Group Corp.,          
Sr. Unsec’d. Notes, 144A(aa) 4.625 03/01/30   825 671,344
Sr. Unsec’d. Notes, 144A(aa) 5.250 12/15/27   1,650 1,480,875
     
 
New Gold, Inc.,
Gtd. Notes, 144A(aa) 		7.500 07/15/27   1,035 971,296
Parkland Corp.,
Gtd. Notes, 144A(aa) 		4.500 10/01/29   1,625 1,397,662
3
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Canada (cont’d.)
Precision Drilling Corp.,          
Gtd. Notes, 144A 6.875 % 01/15/29   250  $231,250
Gtd. Notes, 144A(aa) 7.125 01/15/26   650 636,188
Ritchie Bros Holdings, Inc.,          
Gtd. Notes, 144A 7.750 03/15/31   525 525,000
Sr. Sec’d. Notes, 144A 6.750 03/15/28   150 147,000
     
 
Superior Plus LP/Superior General Partner, Inc.,
Gtd. Notes, 144A(aa) 		4.500 03/15/29   2,000 1,700,000
          21,730,813
Chile 0.5%
Falabella SA,
Sr. Unsec’d. Notes 		3.375 01/15/32   1,000 695,940
Mercury Chile Holdco LLC,
Sr. Sec’d. Notes, 144A(aa) 		6.500 01/24/27   1,000 895,377
VTR Comunicaciones SpA,
Sr. Sec’d. Notes 		4.375 04/15/29   1,000 433,110
VTR Finance NV,
Sr. Unsec’d. Notes, 144A 		6.375 07/15/28   705 121,154
          2,145,581
China 0.5%
Agile Group Holdings Ltd.,
Sr. Sec’d. Notes 		6.050 10/13/25   1,120 79,800
China Hongqiao Group Ltd.,
Gtd. Notes 		6.250 06/08/24   1,100 1,071,708
Country Garden Holdings Co. Ltd.,
Sr. Sec’d. Notes 		6.150 09/17/25(d)   1,620 62,208
Sunac China Holdings Ltd.,          
Sr. Sec’d. Notes 6.500 01/10/25(d)   650 87,750
Sr. Sec’d. Notes 6.500 01/26/26(d)   770 105,875
Sr. Sec’d. Notes 7.250 06/14/22(d)   365 50,187
     
 
West China Cement Ltd.,
Gtd. Notes 		4.950 07/08/26   1,143 779,526
4
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
China (cont’d.)
Yuzhou Group Holdings Co. Ltd.,          
Sr. Sec’d. Notes 7.700 % 02/20/25(d)   900  $54,000
Sr. Sec’d. Notes 8.500 02/26/24(d)   400 24,000
          2,315,054
Colombia 1.1%
AI Candelaria Spain SA,
Sr. Sec’d. Notes, 144A(aa) 		5.750 06/15/33   1,440 976,680
Ecopetrol SA,          
Sr. Unsec’d. Notes 4.625 11/02/31   500 373,250
Sr. Unsec’d. Notes(aa) 5.375 06/26/26   975 930,857
Sr. Unsec’d. Notes(aa) 6.875 04/29/30   1,400 1,255,030
Sr. Unsec’d. Notes 8.875 01/13/33   690 659,640
     
 
SierraCol Energy Andina LLC,
Gtd. Notes, 144A(aa) 		6.000 06/15/28   1,700 1,307,062
          5,502,519
Costa Rica 0.1%
Autopistas del Sol SA,
Sr. Sec’d. Notes 		7.375 12/30/30   295 257,775
Instituto Costarricense de Electricidad,
Sr. Unsec’d. Notes, 144A 		6.750 10/07/31   270 249,750
          507,525
Czech Republic 0.1%
Energo-Pro A/S,
Sr. Unsec’d. Notes, 144A 		8.500 02/04/27   700 659,750
France 1.1%
Altice France SA,
Sr. Sec’d. Notes 		3.375 01/15/28 EUR 3,125 2,379,882
Emeria SASU,          
Sr. Sec’d. Notes 7.750 03/31/28 EUR 700 675,728
Sr. Sec’d. Notes, 144A(aa) 7.750 03/31/28 EUR 1,500 1,447,989
5
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
France (cont’d.)
     
 
Midco GB SASU,
Sr. Unsec’d. Notes, 144A, Cash coupon 7.750% or PIK 8.500% 		7.750 % 11/01/27 EUR 1,050  $1,033,312
          5,536,911
Germany 1.2%
Douglas GmbH,          
Sr. Sec’d. Notes 6.000 04/08/26 EUR 1,425 1,433,126
Sr. Sec’d. Notes, 144A 6.000 04/08/26 EUR 540 543,011
     
 
Kirk Beauty SUN GmbH,
Sr. Unsec’d. Notes, 144A, Cash coupon 8.250% or PIK 9.000% 		8.250 10/01/26 EUR 536 521,299
Techem Verwaltungsgesellschaft 675 mbH,
Sr. Sec’d. Notes 		2.000 07/15/25 EUR 1,800 1,827,216
Wintershall Dea Finance 2 BV,
Gtd. Notes, Series NC8 		3.000(ff) 07/20/28(oo) EUR 2,000 1,710,165
          6,034,817
Ghana 0.3%
Tullow Oil PLC,
Sr. Sec’d. Notes, 144A (aa) 		10.250 05/15/26   1,716 1,470,398
Guatemala 0.6%
Central American Bottling Corp./CBC Bottling Holdco SL/Beliv Holdco SL,
Gtd. Notes 		5.250 04/27/29   1,000 878,370
CT Trust,
Sr. Sec’d. Notes, 144A 		5.125 02/03/32   1,160 887,400
Millicom International Cellular SA,
Sr. Unsec’d. Notes, 144A 		4.500 04/27/31   1,200 894,360
          2,660,130
India 2.1%
ABJA Investment Co. Pte Ltd.,
Gtd. Notes(aa) 		5.950 07/31/24   651 647,172
Clean Renewable Power Mauritius Pte Ltd.,
Sr. Sec’d. Notes, 144A 		4.250 03/25/27   1,193 1,016,881
6
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
India (cont’d.)
Delhi International Airport Ltd.,
Sr. Sec’d. Notes, 144A(aa) 		6.450 % 06/04/29   1,205  $1,091,682
GMR Hyderabad International Airport Ltd.,
Sr. Sec’d. Notes(aa) 		4.250 10/27/27   1,460 1,280,318
Greenko Power II Ltd.,
Sr. Sec’d. Notes 		4.300 12/13/28   928 778,033
HDFC Bank Ltd.,
Jr. Sub. Notes, 144A(aa) 		3.700(ff) 08/25/26(oo)   2,135 1,837,189
HPCL-Mittal Energy Ltd.,
Sr. Unsec’d. Notes(aa) 		5.250 04/28/27   2,000 1,861,820
India Cleantech Energy,
Sec’d. Notes 		4.700 08/10/26   751 652,839
Periama Holdings LLC,
Gtd. Notes 		5.950 04/19/26   770 722,837
Vedanta Resources Finance II PLC,
Gtd. Notes 		13.875 01/21/24   310 276,008
          10,164,779
Indonesia 0.1%
Pertamina Geothermal Energy PT,
Sr. Unsec’d. Notes, 144A 		5.150 04/27/28   530 512,022
Israel 0.7%
Energian Israel Finance Ltd.,          
Sr. Sec’d. Notes, 144A(aa) 5.375 03/30/28   2,250 1,836,562
Sr. Sec’d. Notes, 144A 5.875 03/30/31   500 396,875
     
 
Leviathan Bond Ltd.,
Sr. Sec’d. Notes, 144A(aa) 		6.750 06/30/30   1,110 911,468
          3,144,905
Jamaica 0.5%
Digicel Group Holdings Ltd.,
Sr. Unsec’d. Notes, 144A, Cash coupon 5.000% and PIK 3.000% (original cost $40,062; purchased 06/23/20)(f) 		8.000 04/01/25(d)   186 37,146
7
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Jamaica (cont’d.)
Digicel International Finance Ltd./Digicel
International Holdings Ltd., 		         
Gtd. Notes, 144A (original cost $121,133; purchased 05/22/20)(f) 8.000 % 12/31/26(d)   174  $3,480
Gtd. Notes, 144A, Cash coupon 13.000% (original cost $606,423; purchased 10/19/23)(f) 13.000 12/31/25(d)   866 597,779
Sr. Sec’d. Notes, 144A (original cost $1,283,723; purchased 10/19/23)(f) 8.750 05/25/24   1,420 1,300,623
Sr. Sec’d. Notes, 144A (original cost $412,003; purchased 10/19/23)(f) 8.750 05/25/24   436 399,255
     
 
Digicel Ltd.,
Gtd. Notes, 144A 		6.750 03/01/23(d)   5,020 125,500
          2,463,783
Japan 0.3%
Nissan Motor Co. Ltd.,
Sr. Unsec’d. Notes, 144A 		4.810 09/17/30   650 550,647
SoftBank Group Corp.,
Sr. Unsec’d. Notes 		3.875 07/06/32 EUR 1,400 1,106,857
          1,657,504
Kuwait 0.2%
Kuwait Projects Co. SPC Ltd.,          
Gtd. Notes 4.229 10/29/26   925 792,355
Gtd. Notes, EMTN 4.500 02/23/27   200 167,574
          959,929
Luxembourg 1.5%
Altice Financing SA,          
Sr. Sec’d. Notes 2.250 01/15/25 EUR 700 712,158
Sr. Sec’d. Notes 3.000 01/15/28 EUR 800 686,813
     
 
Altice Finco SA,
Sec’d. Notes 		4.750 01/15/28 EUR 1,700 1,330,388
Altice France Holding SA,
Sr. Sec’d. Notes 		8.000 05/15/27 EUR 1,575 908,247
8
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Luxembourg (cont’d.)
     
Galapagos SA,
Sr. Sec’d. Notes 		0.000 %(cc) 06/15/21(d) EUR 315  $1,664
LHMC Finco 2 Sarl,
Sr. Sec’d. Notes, Cash coupon 7.250% or PIK 8.000% 		7.250 10/02/25 EUR 1,023 1,040,605
Summer BC Holdco B Sarl,
Sr. Sec’d. Notes 		5.750 10/31/26 EUR 2,925 2,792,954
          7,472,829
Macau 0.8%
MGM China Holdings Ltd.,          
Sr. Unsec’d. Notes, 144A 4.750 02/01/27   525 459,336
Sr. Unsec’d. Notes, 144A 5.250 06/18/25   325 309,270
     
 
Sands China Ltd.,
Sr. Unsec’d. Notes 		5.650 08/08/28   1,534 1,414,731
Wynn Macau Ltd.,          
Sr. Unsec’d. Notes, 144A 5.125 12/15/29   1,000 779,360
Sr. Unsec’d. Notes, 144A 5.500 01/15/26   1,000 921,520
          3,884,217
Malaysia 0.4%
Gohl Capital Ltd.,
Gtd. Notes 		4.250 01/24/27   1,889 1,726,640
Mexico 5.6%
Banco Mercantil del Norte SA,          
Jr. Sub. Notes 7.500(ff) 06/27/29(oo)   600 513,000
Jr. Sub. Notes, 144A(aa) 6.625(ff) 01/24/32(oo)   1,485 1,121,175
     
 
Braskem Idesa SAPI,
Sr. Sec’d. Notes, 144A(aa) 		7.450 11/15/29   1,750 1,108,100
Cemex SAB de CV,          
Gtd. Notes 5.450 11/19/29   930 860,831
Sub. Notes 9.125(ff) 03/14/28(oo)   1,000 1,021,250
     
 
Comision Federal de Electricidad,
Gtd. Notes, 144A 		4.688 05/15/29   605 535,425
Electricidad Firme de Mexico Holdings SA de CV,
Sr. Sec’d. Notes, 144A(aa) 		4.900 11/20/26   1,000 864,340
9
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Mexico (cont’d.)
Mexico City Airport Trust,          
Sr. Sec’d. Notes(aa) 3.875 % 04/30/28   2,230  $1,968,376
Sr. Sec’d. Notes 5.500 07/31/47   670 476,712
     
 
Nemak SAB de CV,
Sr. Unsec’d. Notes, 144A(aa) 		3.625 06/28/31   1,230 902,512
Petroleos Mexicanos,          
Gtd. Notes(aa) 5.350 02/12/28   2,500 2,008,375
Gtd. Notes(aa) 6.490 01/23/27   3,758 3,318,840
Gtd. Notes(aa) 6.500 03/13/27   2,720 2,389,017
Gtd. Notes(aa) 6.500 06/02/41   2,100 1,229,235
Gtd. Notes 6.700 02/16/32   545 397,850
Gtd. Notes 10.000 02/07/33   145 129,268
Gtd. Notes, EMTN(aa) 2.750 04/21/27 EUR 1,915 1,568,266
Gtd. Notes, MTN(aa) 6.750 09/21/47   1,825 1,032,950
Gtd. Notes, MTN(aa) 6.875 08/04/26   3,200 2,938,400
     
 
Tierra Mojada Luxembourg II Sarl,
Sr. Sec’d. Notes, 144A 		5.750 12/01/40   1,814 1,437,046
Total Play Telecomunicaciones SA de CV,          
Gtd. Notes, 144A(aa) 6.375 09/20/28   910 430,685
Sr. Unsec’d. Notes, 144A(aa) 7.500 11/12/25   1,355 975,559
          27,227,212
Morocco 0.1%
OCP SA,          
Sr. Unsec’d. Notes 6.875 04/25/44   280 228,900
Sr. Unsec’d. Notes, 144A 3.750 06/23/31   200 156,586
          385,486
Netherlands 0.5%
VEON Holdings BV,
Sr. Unsec’d. Notes, 144A(aa) 		3.375 11/25/27   920 654,092
WP/AP Telecom Holdings III BV,
Sr. Unsec’d. Notes, 144A 		5.500 01/15/30 EUR 1,917 1,689,071
          2,343,163
10
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Nigeria 0.1%
IHS Holding Ltd.,
Gtd. Notes, 144A 		6.250 % 11/29/28   645  $472,430
Panama 0.2%
AES Panama Generation Holdings SRL,
Sr. Sec’d. Notes, 144A 		4.375 05/31/30   382 309,363
C&W Senior Financing DAC,
Sr. Unsec’d. Notes 		6.875 09/15/27   750 641,100
          950,463
Peru 0.5%
InRetail Consumer,
Sr. Sec’d. Notes 		3.250 03/22/28   800 667,856
Kallpa Generacion SA,
Gtd. Notes(aa) 		4.125 08/16/27   1,000 898,750
Minsur SA,
Sr. Unsec’d. Notes 		4.500 10/28/31   750 606,000
          2,172,606
Russia 0.0%
Alfa Bank AO Via Alfa Bond Issuance PLC,          
Sub. Notes 5.950 04/15/30   1,500 75,000
Sub. Notes, 144A 5.950 04/15/30   985 49,250
     
 
Sovcombank Via SovCom Capital DAC,
Jr. Sub. Notes, 144A 		7.600 02/17/27(oo)   1,500 54,188
          178,438
Saudi Arabia 0.3%
Arabian Centres Sukuk Ltd.,
Gtd. Notes, 144A 		5.375 11/26/24   1,635 1,559,892
Slovenia 0.7%
United Group BV,          
Sr. Sec’d. Notes(aa) 3.125 02/15/26 EUR 2,900 2,780,512
Sr. Sec’d. Notes, 144A(aa) 3.125 02/15/26 EUR 850 814,978
          3,595,490
11
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
South Africa 2.0%
Eskom Holdings SOC Ltd.,          
Gov’t. Gtd. Notes, MTN(aa) 6.350 % 08/10/28   2,080  $1,882,400
Sr. Unsec’d. Notes(aa) 7.125 02/11/25   1,270 1,244,600
Sr. Unsec’d. Notes, MTN(aa) 8.450 08/10/28   1,240 1,171,490
Sasol Financing USA LLC,          
Gtd. Notes(aa) 4.375 09/18/26   790 695,200
Gtd. Notes(aa) 6.500 09/27/28   1,930 1,695,505
Gtd. Notes, 144A(aa) 8.750 05/03/29   2,100 1,996,642
     
 
Transnet SOC Ltd.,
Sr. Unsec’d. Notes, 144A(aa) 		8.250 02/06/28   1,235 1,167,075
          9,852,912
Spain 0.0%
Codere Finance 2 Luxembourg SA,          
Sr. Sec’d. Notes, Cash coupon 2.000% and PIK 10.750% 12.750 11/30/27(d) EUR 673 54,942
Sr. Sec’d. Notes, 144A, Cash coupon 2.000% and PIK 11.625% 13.625 11/30/27(d)   224 18,786
          73,728
Sweden 0.6%
Preem Holdings AB,
Sr. Unsec’d. Notes, 144A (aa) 		12.000 06/30/27 EUR 2,520 2,854,261
Switzerland 0.3%
VistaJet Malta Finance PLC/Vista Management
Holding, Inc., 		         
Sr. Unsec’d. Notes, 144A(aa) 7.875 05/01/27   1,450 1,111,063
Sr. Unsec’d. Notes, 144A 9.500 06/01/28   550 420,750
          1,531,813
Thailand 0.6%
Bangkok Bank PCL,
Jr. Sub. Notes, 144A, MTN (aa) 		5.000(ff) 09/23/25(oo)   3,016 2,812,330
12
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Turkey 0.9%
Aydem Yenilenebilir Enerji A/S,
Sr. Sec’d. Notes, 144A(aa) 		7.750 % 02/02/27   1,140  $996,064
Eldorado Gold Corp.,
Sr. Unsec’d. Notes, 144A(aa) 		6.250 09/01/29   1,250 1,067,187
KOC Holding A/S,
Sr. Unsec’d. Notes, 144A(aa) 		6.500 03/11/25   1,000 987,500
Turkiye Sinai Kalkinma Bankasi A/S,
Sr. Unsec’d. Notes, 144A, MTN(aa) 		9.375 10/19/28   1,000 1,015,000
WE Soda Investments Holding PLC,
Sr. Sec’d. Notes, 144A 		9.500 10/06/28   500 499,125
          4,564,876
Ukraine 0.2%
NAK Naftogaz Ukraine via Kondor Finance PLC,          
Sr. Unsec’d. Notes(aa) 7.125 07/19/26(d) EUR 1,035 514,713
Sr. Unsec’d. Notes 7.625 11/08/28(d)   830 394,250
          908,963
United Arab Emirates 0.3%
DP World Salaam,
Jr. Sub. Notes 		6.000(ff) 10/01/25(oo)   1,620 1,581,541
United Kingdom 6.5%
Bellis Finco PLC,          
Gtd. Notes 4.000 02/16/27 GBP 1,275 1,145,630
Sr. Unsec’d. Notes, 144A(aa) 4.000 02/16/27 GBP 3,300 2,965,161
     
 
Connect Finco Sarl/Connect US Finco LLC,
Sr. Sec’d. Notes, 144A 		6.750 10/01/26   800 744,816
Constellation Automotive Financing PLC,
Sr. Sec’d. Notes 		4.875 07/15/27 GBP 900 845,100
eG Global Finance PLC,          
Sr. Sec’d. Notes, 144A(aa) 4.375 02/07/25 EUR 971 1,001,314
Sr. Sec’d. Notes, 144A(aa) 8.500 10/30/25   1,551 1,523,857
Jerrold Finco PLC,          
Sr. Sec’d. Notes 5.250 01/15/27 GBP 2,275 2,396,278
Sr. Sec’d. Notes, 144A(aa) 5.250 01/15/27 GBP 1,325 1,379,018
Macquarie Airfinance Holdings Ltd.,          
Sr. Unsec’d. Notes, 144A 8.125 03/30/29   250 245,490
13
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
United Kingdom (cont’d.)
Macquarie Airfinance Holdings Ltd., (cont’d.)          
Sr. Unsec’d. Notes, 144A(aa) 8.375 % 05/01/28   975   $969,111
     
 
Motion Bondco DAC,
Gtd. Notes, 144A 		6.625 11/15/27   250 223,750
Sherwood Financing PLC,
Sr. Sec’d. Notes, 144A(aa) 		6.000 11/15/26 GBP 1,350 1,360,796
TalkTalk Telecom Group Ltd.,
Gtd. Notes(aa) 		3.875 02/20/25 GBP 4,000 3,673,698
Very Group Funding PLC (The),
Sr. Sec’d. Notes, 144A(aa) 		6.500 08/01/26 GBP 3,275 3,224,285
Virgin Media Secured Finance PLC,          
Sr. Sec’d. Notes 4.125 08/15/30 GBP 1,925 1,856,354
Sr. Sec’d. Notes 4.250 01/15/30 GBP 2,170 2,123,499
     
 
Virgin Media Vendor Financing Notes III DAC,
Sr. Sec’d. Notes 		4.875 07/15/28 GBP 3,725 3,782,809
Zenith Finco PLC,
Sr. Sec’d. Notes, 144A(aa) 		6.500 06/30/27 GBP 2,250 2,114,163
          31,575,129
United States 54.5%
ACCO Brands Corp.,
Gtd. Notes, 144A(aa) 		4.250 03/15/29   1,225 1,015,924
Adams Homes, Inc.,
Sr. Unsec’d. Notes, 144A 		9.250 10/15/28   625 610,452
AdaptHealth LLC,          
Gtd. Notes, 144A 4.625 08/01/29   625 467,301
Gtd. Notes, 144A(aa) 5.125 03/01/30   925 703,684
Gtd. Notes, 144A(aa) 6.125 08/01/28   655 541,408
     
 
Adient Global Holdings Ltd.,
Sr. Sec’d. Notes, 144A 		7.000 04/15/28   450 441,792
Adtalem Global Education, Inc.,
Sr. Sec’d. Notes, 144A 		5.500 03/01/28   725 664,266
Aethon United BR LP/Aethon United Finance Corp.,
Sr. Unsec’d. Notes, 144A 		8.250 02/15/26   625 620,923
Albertson’s Cos., Inc./Safeway, Inc./New Albertson’s LP/Albertson’s LLC,
Gtd. Notes, 144A 		6.500 02/15/28   150 147,259
14
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
United States (cont’d.)
Allied Universal Holdco LLC/Allied Universal
Finance Corp., 		         
Sr. Sec’d. Notes, 144A(aa) 6.625 % 07/15/26   1,790  $1,675,754
Sr. Unsec’d. Notes, 144A 6.000 06/01/29   400 289,160
Sr. Unsec’d. Notes, 144A(aa) 9.750 07/15/27   2,575 2,242,563
     
 
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl,
Sr. Sec’d. Notes, 144A(aa) 		3.625 06/01/28 EUR 3,225 2,738,941
Alta Equipment Group, Inc.,
Sec’d. Notes, 144A 		5.625 04/15/26   600 537,969
Alta Mesa Holdings LP/Alta Mesa Finance Services Corp.,
Gtd. Notes(aa) 		7.875 12/15/24(d)   6,450 645
AMC Networks, Inc.,
Gtd. Notes(aa) 		5.000 04/01/24   1,000 993,734
American Airlines, Inc.,
Sr. Sec’d. Notes, 144A 		7.250 02/15/28   400 372,434
American Airlines, Inc./AAdvantage Loyalty IP Ltd.,
Sr. Sec’d. Notes, 144A(aa) 		5.750 04/20/29   1,700 1,533,536
American Axle & Manufacturing, Inc.,
Gtd. Notes 		6.250 03/15/26   593 573,003
AmeriGas Partners LP/AmeriGas Finance Corp.,          
Sr. Unsec’d. Notes(aa) 5.750 05/20/27   925 849,836
Sr. Unsec’d. Notes(aa) 5.875 08/20/26   1,125 1,054,737
     
 
AMN Healthcare, Inc.,
Gtd. Notes, 144A 		4.000 04/15/29   800 666,366
Amsted Industries, Inc.,
Sr. Unsec’d. Notes, 144A(aa) 		4.625 05/15/30   1,475 1,204,517
Antero Midstream Partners LP/Antero Midstream
Finance Corp., 		         
Gtd. Notes, 144A 5.375 06/15/29   225 205,071
Gtd. Notes, 144A(aa) 5.750 01/15/28   2,750 2,581,646
Antero Resources Corp.,          
Gtd. Notes, 144A(aa) 5.375 03/01/30   925 844,717
Gtd. Notes, 144A(aa) 7.625 02/01/29   1,164 1,179,901
     
 
Arsenal AIC Parent LLC,
Sr. Sec’d. Notes, 144A 		8.000 10/01/30   250 246,860
Ascent Resources Utica Holdings LLC/ARU Finance
Corp., 		         
Gtd. Notes, 144A 9.000 11/01/27   368 465,157
15
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
United States (cont’d.)
Ascent Resources Utica Holdings LLC/ARU Finance Corp., (cont’d.)          
Sr. Unsec’d. Notes, 144A(aa) 8.250 % 12/31/28   2,275  $2,259,297
Ashton Woods USA LLC/Ashton Woods Finance Co.,          
Sr. Unsec’d. Notes, 144A(aa) 4.625 08/01/29   1,425 1,155,115
Sr. Unsec’d. Notes, 144A 4.625 04/01/30   150 117,088
ASP Unifrax Holdings, Inc.,          
Sr. Sec’d. Notes, 144A 5.250 09/30/28   425 288,905
Sr. Unsec’d. Notes, 144A 7.500 09/30/29   275 148,583
At Home Group, Inc.,          
Gtd. Notes, 144A 7.125 07/15/29   375 78,083
Sr. Sec’d. Notes, 144A 4.875 07/15/28   150 51,298
     
 
ATI, Inc.,
Sr. Unsec’d. Notes 		7.250 08/15/30   250 240,790
B&G Foods, Inc.,          
Gtd. Notes(aa) 5.250 09/15/27   3,170 2,608,981
Sr. Sec’d. Notes, 144A 8.000 09/15/28   625 609,437
     
 
Banff Merger Sub, Inc.,
Sr. Unsec’d. Notes(aa) 		8.375 09/01/26 EUR 2,550 2,571,645
Bausch Health Cos., Inc.,          
Gtd. Notes, 144A(aa) 5.000 01/30/28   1,450 536,500
Gtd. Notes, 144A 5.000 02/15/29   125 43,438
Gtd. Notes, 144A(aa) 5.250 01/30/30   2,225 770,406
Gtd. Notes, 144A(aa) 5.250 02/15/31   1,600 560,000
Gtd. Notes, 144A(aa) 6.250 02/15/29   3,540 1,283,250
Gtd. Notes, 144A 7.000 01/15/28   250 102,500
     
 
Beacon Roofing Supply, Inc.,
Sr. Sec’d. Notes, 144A 		6.500 08/01/30   225 214,944
Beazer Homes USA, Inc.,          
Gtd. Notes 5.875 10/15/27   75 66,981
Gtd. Notes(aa) 6.750 03/15/25   575 569,881
Gtd. Notes(aa) 7.250 10/15/29   1,650 1,505,733
Boeing Co. (The),          
Sr. Unsec’d. Notes(aa) 5.805 05/01/50   880 758,313
Sr. Unsec’d. Notes 5.930 05/01/60   275 231,339
     
 
Brand Industrial Services, Inc.,
Sr. Sec’d. Notes, 144A 		10.375 08/01/30   200 198,723
Bread Financial Holdings, Inc.,
Gtd. Notes, 144A(aa) 		4.750 12/15/24   1,575 1,525,949
Brinker International, Inc.,
Gtd. Notes, 144A(aa) 		8.250 07/15/30   1,050 1,013,852
16
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
United States (cont’d.)
     
C&S Group Enterprises LLC,
Gtd. Notes, 144A(aa) 		5.000 % 12/15/28   950  $735,480
Caesars Entertainment, Inc.,          
Sr. Sec’d. Notes, 144A 6.250 07/01/25   125 123,019
Sr. Sec’d. Notes, 144A(aa) 7.000 02/15/30   1,925 1,852,848
Sr. Unsec’d. Notes, 144A(aa) 4.625 10/15/29   1,325 1,089,688
Calpine Corp.,          
Sr. Unsec’d. Notes, 144A 5.000 02/01/31   325 262,368
Sr. Unsec’d. Notes, 144A(aa) 5.125 03/15/28   6,425 5,750,144
     
 
Camelot Return Merger Sub, Inc.,
Sr. Sec’d. Notes, 144A 		8.750 08/01/28   725 676,931
Carnival Corp.,          
Gtd. Notes, 144A 5.750 03/01/27   2,400 2,136,000
Sr. Sec’d. Notes, 144A 7.000 08/15/29   125 122,500
     
 
CCM Merger, Inc.,
Sr. Unsec’d. Notes, 144A 		6.375 05/01/26   325 308,260
CCO Holdings LLC/CCO Holdings Capital Corp.,          
Sr. Unsec’d. Notes(aa) 4.500 05/01/32   1,300 994,844
Sr. Unsec’d. Notes, 144A(aa) 4.250 02/01/31   2,550 1,984,116
Sr. Unsec’d. Notes, 144A 4.250 01/15/34   609 439,687
Sr. Unsec’d. Notes, 144A 4.500 06/01/33   750 559,502
Sr. Unsec’d. Notes, 144A(aa) 4.750 03/01/30   3,050 2,516,619
Sr. Unsec’d. Notes, 144A(aa) 5.000 02/01/28   3,575 3,199,833
Sr. Unsec’d. Notes, 144A(aa) 5.125 05/01/27   1,000 919,952
     
 
CDI Escrow Issuer, Inc.,
Sr. Unsec’d. Notes, 144A 		5.750 04/01/30   200 179,005
Chart Industries, Inc.,          
Gtd. Notes, 144A 9.500 01/01/31   375 386,350
Sr. Sec’d. Notes, 144A(aa) 7.500 01/01/30   1,045 1,026,735
     
 
Cheniere Energy, Inc.,
Sr. Sec’d. Notes(aa) 		4.625 10/15/28   2,550 2,330,396
Chesapeake Energy Corp.,          
Gtd. Notes, 144A 5.875 02/01/29   475 447,335
Gtd. Notes, 144A 6.750 04/15/29   675 661,467
     
 
Churchill Downs, Inc.,
Gtd. Notes, 144A 		6.750 05/01/31   400 373,535
CITGO Petroleum Corp.,
Sr. Sec’d. Notes, 144A(aa) 		7.000 06/15/25   1,325 1,303,117
17
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
United States (cont’d.)
Civitas Resources, Inc.,          
Gtd. Notes, 144A 8.375 % 07/01/28   800  $805,742
Gtd. Notes, 144A 8.625 11/01/30   350 356,238
     
 
Clarios Global LP/Clarios US Finance Co.,
Gtd. Notes, 144A 		8.500 05/15/27   425 418,795
Clarivate Science Holdings Corp.,
Gtd. Notes, 144A 		4.875 07/01/29   725 611,276
Cleveland-Cliffs, Inc.,
Gtd. Notes, 144A(aa) 		6.750 04/15/30   925 858,678
CMG Media Corp.,
Gtd. Notes, 144A(aa) 		8.875 12/15/27   1,895 1,472,825
CNX Midstream Partners LP,
Gtd. Notes, 144A 		4.750 04/15/30   175 144,226
CNX Resources Corp.,
Gtd. Notes, 144A(aa) 		7.250 03/14/27   1,325 1,304,818
Comstock Resources, Inc.,          
Gtd. Notes, 144A 5.875 01/15/30   700 598,490
Gtd. Notes, 144A(aa) 6.750 03/01/29   1,000 910,894
     
 
Cornerstone Building Brands, Inc.,
Gtd. Notes, 144A(aa) 		6.125 01/15/29   550 403,330
Cornerstone Chemical Co.,
Sr. Sec’d. Notes, 144A, Cash coupon 8.250% and PIK 2.000% (original cost $2,070,247; purchased 03/19/19)(aa)(f) 		10.250 09/01/27(d)   2,103 1,791,588
Crescent Energy Finance LLC,          
Gtd. Notes, 144A 7.250 05/01/26   125 120,919
Gtd. Notes, 144A 9.250 02/15/28   700 709,874
     
 
CrownRock LP/CrownRock Finance, Inc.,
Sr. Unsec’d. Notes, 144A 		5.000 05/01/29   179 168,650
CSC Holdings LLC,          
Gtd. Notes, 144A(aa) 4.125 12/01/30   900 603,015
Gtd. Notes, 144A 5.500 04/15/27   1,000 834,981
Sr. Unsec’d. Notes, 144A(aa) 4.625 12/01/30   4,050 2,047,689
Dana, Inc.,          
Sr. Unsec’d. Notes 4.250 09/01/30   450 356,851
Sr. Unsec’d. Notes 4.500 02/15/32   725 567,491
DaVita, Inc.,          
Gtd. Notes, 144A(aa) 3.750 02/15/31   1,225 881,048
Gtd. Notes, 144A(aa) 4.625 06/01/30   2,900 2,273,663
     
 
18
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
United States (cont’d.)
     
Diamond Foreign Asset Co./Diamond Finance LLC,
Sec’d. Notes, 144A 		8.500 % 10/01/30   350  $339,430
Diamond Sports Group LLC/Diamond Sports
Finance Co., 		         
Gtd. Notes, 144A (original cost $3,927,328; purchased 07/18/19 - 02/27/20)(aa)(f) 6.625 08/15/27(d)   4,125 41,651
Sec’d. Notes, 144A (original cost $2,387,283; purchased 07/18/19 - 07/05/22)(f) 5.375 08/15/26(d)   3,150 35,334
DISH DBS Corp.,          
Gtd. Notes 5.125 06/01/29   975 501,274
Gtd. Notes(aa) 7.375 07/01/28   515 289,384
Gtd. Notes(aa) 7.750 07/01/26   2,910 1,948,282
     
 
DISH Network Corp.,
Sr. Sec’d. Notes, 144A(aa) 		11.750 11/15/27   1,100 1,089,488
Diversified Healthcare Trust,          
Gtd. Notes 4.375 03/01/31   750 516,278
Gtd. Notes(aa) 9.750 06/15/25   1,375 1,334,356
Sr. Unsec’d. Notes 4.750 05/01/24   50 46,925
Sr. Unsec’d. Notes 4.750 02/15/28   575 418,858
     
 
Eco Material Technologies, Inc.,
Sr. Sec’d. Notes, 144A 		7.875 01/31/27   725 688,141
Embecta Corp.,          
Sr. Sec’d. Notes, 144A 5.000 02/15/30   550 436,559
Sr. Sec’d. Notes, 144A 6.750 02/15/30   300 248,670
     
 
Energizer Holdings, Inc.,
Gtd. Notes, 144A(aa) 		4.375 03/31/29   1,725 1,415,112
Energy Transfer LP,
Jr. Sub. Notes, Series G(aa) 		7.125(ff) 05/15/30(oo)   1,275 1,072,122
EQM Midstream Partners LP,          
Sr. Unsec’d. Notes, 144A(aa) 6.500 07/01/27   1,480 1,445,508
Sr. Unsec’d. Notes, 144A 7.500 06/01/27   200 198,668
Sr. Unsec’d. Notes, 144A 7.500 06/01/30   200 196,857
Fertitta Entertainment LLC/Fertitta Entertainment
Finance Co., Inc., 		         
Gtd. Notes, 144A(aa) 6.750 01/15/30   2,050 1,629,094
Sr. Sec’d. Notes, 144A 4.625 01/15/29   650 547,681
     
 
Five Point Operating Co. LP/Five Point Capital Corp.,
Gtd. Notes, 144A(aa) 		7.875 11/15/25   1,350 1,274,210
19
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
United States (cont’d.)
Ford Motor Co.,          
Sr. Unsec’d. Notes(aa) 3.250 % 02/12/32   3,000  $2,261,189
Sr. Unsec’d. Notes(aa) 4.750 01/15/43   3,113 2,159,240
Sr. Unsec’d. Notes(aa) 5.291 12/08/46   3,825 2,778,074
Sr. Unsec’d. Notes(aa) 7.400 11/01/46   1,000 939,634
Ford Motor Credit Co. LLC,          
Sr. Unsec’d. Notes 3.375 11/13/25   800 746,458
Sr. Unsec’d. Notes(aa) 4.950 05/28/27   1,000 937,267
Sr. Unsec’d. Notes 6.800 05/12/28   200 199,499
Sr. Unsec’d. Notes 6.950 03/06/26   425 426,244
Forestar Group, Inc.,          
Gtd. Notes, 144A(aa) 3.850 05/15/26   1,025 916,349
Gtd. Notes, 144A(aa) 5.000 03/01/28   800 704,383
     
 
Forward Air Corp.,
Sr. Sec’d. Notes, 144A(aa) 		9.500 10/15/31   1,700 1,657,224
Foundation Building Materials, Inc.,
Gtd. Notes, 144A 		6.000 03/01/29   500 412,425
Freedom Mortgage Corp.,          
Sr. Unsec’d. Notes, 144A 7.625 05/01/26   325 299,109
Sr. Unsec’d. Notes, 144A 12.000 10/01/28   300 301,036
Gap, Inc. (The),          
Gtd. Notes, 144A 3.625 10/01/29   250 191,242
Gtd. Notes, 144A(aa) 3.875 10/01/31   1,850 1,332,930
     
 
Global Partners LP/GLP Finance Corp.,
Gtd. Notes 		6.875 01/15/29   450 399,974
Golden Entertainment, Inc.,
Sr. Unsec’d. Notes, 144A(aa) 		7.625 04/15/26   2,150 2,156,252
Gray Television, Inc.,
Gtd. Notes, 144A(aa) 		5.875 07/15/26   1,315 1,171,471
Greystar Real Estate Partners LLC,
Sr. Sec’d. Notes, 144A 		7.750 09/01/30   300 294,717
Griffon Corp.,
Gtd. Notes(aa) 		5.750 03/01/28   850 767,753
GTCR W-2 Merger Sub LLC,
Sr. Sec’d. Notes, 144A 		7.500 01/15/31   525 517,706
H&E Equipment Services, Inc.,
Gtd. Notes, 144A(aa) 		3.875 12/15/28   2,400 2,033,454
Hecla Mining Co.,
Gtd. Notes(aa) 		7.250 02/15/28   605 581,349
20
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
United States (cont’d.)
Hertz Corp. (The),          
Gtd. Notes, 144A 4.625 % 12/01/26   325  $274,314
Gtd. Notes, 144A 5.000 12/01/29   650 467,274
Hilcorp Energy I LP/Hilcorp Finance Co.,          
Sr. Unsec’d. Notes, 144A 5.750 02/01/29   325 292,690
Sr. Unsec’d. Notes, 144A 6.000 04/15/30   700 621,759
Sr. Unsec’d. Notes, 144A(aa) 6.000 02/01/31   1,325 1,161,100
Sr. Unsec’d. Notes, 144A(aa) 6.250 11/01/28   900 841,498
Sr. Unsec’d. Notes, 144A(aa) 6.250 04/15/32   875 763,782
     
 
Hilton Domestic Operating Co., Inc.,
Gtd. Notes, 144A 		4.000 05/01/31   700 578,376
Howard Hughes Corp. (The),          
Gtd. Notes, 144A(aa) 4.125 02/01/29   1,150 932,742
Gtd. Notes, 144A(aa) 4.375 02/01/31   800 614,620
     
 
Hunt Cos., Inc.,
Sr. Sec’d. Notes, 144A(aa) 		5.250 04/15/29   1,875 1,478,338
iHeartCommunications, Inc.,
Sr. Sec’d. Notes(aa) 		6.375 05/01/26   1,500 1,222,405
International Game Technology PLC,
Sr. Sec’d. Notes, 144A(aa) 		6.250 01/15/27   750 728,503
Jacobs Entertainment, Inc.,          
Sr. Unsec’d. Notes, 144A 6.750 02/15/29   675 574,656
Sr. Unsec’d. Notes, 144A 6.750 02/15/29   375 313,807
     
 
Jefferies Finance LLC/JFIN Co-Issuer Corp.,
Sr. Unsec’d. Notes, 144A(aa) 		5.000 08/15/28   1,500 1,201,013
KB Home,          
Gtd. Notes 4.000 06/15/31   400 313,728
Gtd. Notes(aa) 4.800 11/15/29   2,500 2,166,204
     
 
Knife River Corp.,
Sr. Unsec’d. Notes, 144A 		7.750 05/01/31   350 348,766
Kontoor Brands, Inc.,
Gtd. Notes, 144A 		4.125 11/15/29   325 269,058
LABL, Inc.,          
Sr. Sec’d. Notes, 144A 5.875 11/01/28   500 427,186
Sr. Sec’d. Notes, 144A 9.500 11/01/28   225 218,892
Sr. Unsec’d. Notes, 144A 8.250 11/01/29   450 334,125
Sr. Unsec’d. Notes, 144A 10.500 07/15/27   575 499,940
     
 
LBM Acquisition LLC,
Gtd. Notes, 144A 		6.250 01/15/29   475 375,293
21
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
United States (cont’d.)
LCM Investments Holdings II LLC,          
Sr. Unsec’d. Notes, 144A 4.875 % 05/01/29   750  $629,885
Sr. Unsec’d. Notes, 144A 8.250 08/01/31   450 430,130
     
 
LD Holdings Group LLC,
Gtd. Notes, 144A 		6.125 04/01/28   775 429,900
Level 3 Financing, Inc.,          
Gtd. Notes, 144A 4.625 09/15/27   1,500 1,010,231
Sr. Sec’d. Notes, 144A 3.400 03/01/27   175 162,752
     
 
LifePoint Health, Inc.,
Gtd. Notes, 144A 		5.375 01/15/29   1,000 604,462
Light & Wonder International, Inc.,
Gtd. Notes, 144A 		7.500 09/01/31   350 341,868
Likewize Corp.,
Sr. Sec’d. Notes, 144A(aa) 		9.750 10/15/25   790 785,310
Lindblad Expeditions Holdings, Inc.,
Sr. Sec’d. Notes, 144A 		9.000 05/15/28   575 562,118
LPL Holdings, Inc.,
Gtd. Notes, 144A(aa) 		4.625 11/15/27   1,040 951,684
M/I Homes, Inc.,
Gtd. Notes(aa) 		4.950 02/01/28   1,025 919,429
Masonite International Corp.,          
Gtd. Notes, 144A 3.500 02/15/30   400 317,000
Gtd. Notes, 144A 5.375 02/01/28   230 211,186
     
 
Mauser Packaging Solutions Holding Co.,
Sr. Sec’d. Notes, 144A 		7.875 08/15/26   750 702,680
Maxim Crane Works Holdings Capital LLC,
Sec’d. Notes, 144A(aa) 		11.500 09/01/28   1,100 1,073,695
McAfee Corp.,
Sr. Unsec’d. Notes, 144A 		7.375 02/15/30   450 359,841
Medline Borrower LP,          
Sr. Sec’d. Notes, 144A(aa) 3.875 04/01/29   1,200 1,012,713
Sr. Unsec’d. Notes, 144A(aa) 5.250 10/01/29   1,400 1,192,051
     
 
Metis Merger Sub LLC,
Sr. Unsec’d. Notes, 144A(aa) 		6.500 05/15/29   2,850 2,326,222
MGM Resorts International,          
Gtd. Notes(aa) 4.750 10/15/28   2,238 1,953,687
Gtd. Notes 5.750 06/15/25   25 24,459
Gtd. Notes 6.750 05/01/25   125 124,295
     
 
22
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
United States (cont’d.)
     
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp.,
Sr. Sec’d. Notes, 144A(aa) 		4.875 % 05/01/29   1,125  $937,201
MIWD Holdco II LLC/MIWD Finance Corp.,
Gtd. Notes, 144A 		5.500 02/01/30   400 317,438
MPH Acquisition Holdings LLC,
Sr. Sec’d. Notes, 144A(aa) 		5.500 09/01/28   1,025 856,182
Nabors Industries Ltd.,          
Gtd. Notes, 144A 7.250 01/15/26   575 537,625
Gtd. Notes, 144A 7.500 01/15/28   325 286,000
Nabors Industries, Inc.,          
Gtd. Notes(aa) 5.750 02/01/25   1,725 1,674,346
Gtd. Notes, 144A(aa) 7.375 05/15/27   925 865,114
Nationstar Mortgage Holdings, Inc.,          
Gtd. Notes, 144A(aa) 5.125 12/15/30   1,575 1,280,006
Gtd. Notes, 144A 5.500 08/15/28   390 344,436
Navient Corp.,          
Sr. Unsec’d. Notes 6.750 06/25/25   375 366,242
Sr. Unsec’d. Notes 9.375 07/25/30   350 329,938
NCL Corp. Ltd.,          
Sr. Sec’d. Notes, 144A 5.875 02/15/27   500 460,000
Sr. Sec’d. Notes, 144A 8.125 01/15/29   225 219,094
Sr. Sec’d. Notes, 144A 8.375 02/01/28   1,575 1,561,219
NCR Voyix Corp.,          
Gtd. Notes, 144A(aa) 5.000 10/01/28   650 561,514
Gtd. Notes, 144A 5.250 10/01/30   300 248,404
     
 
NESCO Holdings II, Inc.,
Sec’d. Notes, 144A 		5.500 04/15/29   525 451,284
Noble Finance II LLC,
Gtd. Notes, 144A 		8.000 04/15/30   275 275,944
NRG Energy, Inc.,          
Gtd. Notes(aa) 5.750 01/15/28   590 554,059
Gtd. Notes, 144A 3.625 02/15/31   175 132,043
Gtd. Notes, 144A 3.875 02/15/32   700 522,842
Jr. Sub. Notes, 144A(aa) 10.250(ff) 03/15/28(oo)   900 868,500
Olympus Water US Holding Corp.,          
Sr. Sec’d. Notes, 144A 9.625 11/15/28 EUR 1,500 1,571,278
Sr. Sec’d. Notes, 144A(aa) 9.750 11/15/28   1,050 1,026,162
OneMain Finance Corp.,          
Gtd. Notes 3.875 09/15/28   475 377,414
23
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
United States (cont’d.)
OneMain Finance Corp., (cont’d.)          
Gtd. Notes 6.875 % 03/15/25   567  $559,814
Gtd. Notes(aa) 7.125 03/15/26   1,375 1,336,243
     
 
Organon & Co./Organon Foreign Debt Co-Issuer BV,
Sr. Unsec’d. Notes, 144A(aa) 		5.125 04/30/31   1,300 1,015,813
Owens-Brockway Glass Container, Inc.,          
Gtd. Notes, 144A 6.625 05/13/27   267 254,001
Gtd. Notes, 144A 7.250 05/15/31   450 411,784
     
 
P&L Development LLC/PLD Finance Corp.,
Sr. Sec’d. Notes, 144A(aa) 		7.750 11/15/25   775 520,423
Park River Holdings, Inc.,
Gtd. Notes, 144A(aa) 		5.625 02/01/29   1,350 994,114
Patrick Industries, Inc.,
Gtd. Notes, 144A 		4.750 05/01/29   150 122,648
Penn Entertainment, Inc.,          
Sr. Unsec’d. Notes, 144A 4.125 07/01/29   675 524,503
Sr. Unsec’d. Notes, 144A 5.625 01/15/27   300 274,441
     
 
PennyMac Financial Services, Inc.,
Gtd. Notes, 144A(aa) 		5.375 10/15/25   1,150 1,094,723
Permian Resources Operating LLC,
Gtd. Notes, 144A 		7.000 01/15/32   475 462,564
PM General Purchaser LLC,
Sr. Sec’d. Notes, 144A(aa) 		9.500 10/01/28   1,000 940,080
Post Holdings, Inc.,
Gtd. Notes, 144A(aa) 		5.500 12/15/29   904 801,846
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp.,
Gtd. Notes, 144A(aa) 		5.875 09/01/31   1,125 763,736
Prime Healthcare Services, Inc.,
Sr. Sec’d. Notes, 144A(aa) 		7.250 11/01/25   1,425 1,303,869
Radiate Holdco LLC/Radiate Finance, Inc.,          
Sr. Sec’d. Notes, 144A(aa) 4.500 09/15/26   1,000 766,681
Sr. Unsec’d. Notes, 144A(aa) 6.500 09/15/28   1,525 754,829
     
 
Rain Carbon, Inc.,
Sr. Sec’d. Notes, 144A 		12.250 09/01/29   600 610,516
Rain CII Carbon LLC/CII Carbon Corp.,
Sec’d. Notes, 144A 		7.250 04/01/25   32 30,731
Range Resources Corp.,
Gtd. Notes, 144A 		4.750 02/15/30   150 133,410
24
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
United States (cont’d.)
     
RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc.,
Gtd. Notes, 144A 		9.750 % 12/01/26   750  $706,289
RHP Hotel Properties LP/RHP Finance Corp.,
Gtd. Notes, 144A 		4.500 02/15/29   250 212,870
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer,
Inc., 		         
Gtd. Notes, 144A 3.625 03/01/29   400 325,228
Gtd. Notes, 144A 3.875 03/01/31   425 328,535
Royal Caribbean Cruises Ltd.,          
Gtd. Notes, 144A 7.250 01/15/30   800 788,000
Sr. Unsec’d. Notes, 144A 5.500 04/01/28   375 340,774
Sr. Unsec’d. Notes, 144A 11.625 08/15/27   650 705,165
     
 
Scientific Games Holdings LP/Scientific Games US FinCo, Inc.,
Sr. Unsec’d. Notes, 144A(aa) 		6.625 03/01/30   900 774,111
Scotts Miracle-Gro Co. (The),          
Gtd. Notes(aa) 4.000 04/01/31   1,950 1,451,549
Gtd. Notes 4.375 02/01/32   425 311,705
     
 
Sealed Air Corp./Sealed Air Corp. US,
Gtd. Notes, 144A 		6.125 02/01/28   175 166,448
Shea Homes LP/Shea Homes Funding Corp.,
Sr. Unsec’d. Notes(aa) 		4.750 04/01/29   1,035 876,798
SilverBow Resources, Inc.,
Sec’d. Notes, 144A, 3 Month LIBOR + 0.750%^ 		13.052(c) 12/15/28   2,150 2,112,375
Sinclair Television Group, Inc.,
Gtd. Notes, 144A(aa) 		5.125 02/15/27   1,490 1,179,278
SK Invictus Intermediate II Sarl,
Sr. Sec’d. Notes, 144A 		5.000 10/30/29   1,200 906,000
Smyrna Ready Mix Concrete LLC,
Sr. Sec’d. Notes, 144A(aa) 		6.000 11/01/28   1,273 1,177,131
Southwestern Energy Co.,          
Gtd. Notes 4.750 02/01/32   350 300,987
Gtd. Notes(aa) 5.375 02/01/29   875 809,544
Gtd. Notes(aa) 5.375 03/15/30   1,275 1,169,604
     
 
SRS Distribution, Inc.,
Gtd. Notes, 144A 		6.000 12/01/29   750 624,436
Standard Industries, Inc.,          
Sr. Unsec’d. Notes, 144A(aa) 3.375 01/15/31   925 699,690
Sr. Unsec’d. Notes, 144A(aa) 4.375 07/15/30   975 797,657
25
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
United States (cont’d.)
     
 
Suburban Propane Partners LP/Suburban Energy Finance Corp.,
Sr. Unsec’d. Notes, 144A 		5.000 % 06/01/31   575  $481,278
Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse HSP Gaming Finance Corp.,
Sr. Sec’d. Notes, 144A 		5.875 05/15/25   625 600,753
Sunoco LP/Sunoco Finance Corp.,          
Gtd. Notes 4.500 05/15/29   700 606,568
Gtd. Notes 4.500 04/30/30   850 728,956
     
 
SWF Escrow Issuer Corp.,
Sr. Unsec’d. Notes, 144A(aa) 		6.500 10/01/29   1,600 904,351
Tallgrass Energy Partners LP/Tallgrass Energy
Finance Corp., 		         
Gtd. Notes, 144A(aa) 5.500 01/15/28   2,963 2,607,692
Gtd. Notes, 144A 6.000 12/31/30   50 42,386
Gtd. Notes, 144A 7.500 10/01/25   225 222,225
Taylor Morrison Communities, Inc.,          
Gtd. Notes, 144A 5.875 06/15/27   625 585,928
Sr. Unsec’d. Notes, 144A(aa) 5.125 08/01/30   1,525 1,285,044
     
 
Tempo Acquisition LLC/Tempo Acquisition Finance Corp.,
Sr. Sec’d. Notes, 144A(aa) 		5.750 06/01/25   1,425 1,392,186
Tenet Healthcare Corp.,          
Sr. Sec’d. Notes(aa) 4.250 06/01/29   1,675 1,435,180
Sr. Sec’d. Notes(aa) 4.375 01/15/30   3,875 3,281,297
Sr. Sec’d. Notes, 144A(aa) 6.750 05/15/31   1,000 949,877
Sr. Unsec’d. Notes(aa) 6.875 11/15/31   525 484,461
     
 
Tenneco, Inc.,
Sr. Sec’d. Notes, 144A(aa) 		8.000 11/17/28   1,150 922,876
Titan International, Inc.,
Sr. Sec’d. Notes 		7.000 04/30/28   675 616,597
TopBuild Corp.,
Gtd. Notes, 144A 		4.125 02/15/32   500 396,481
TPC Group, Inc.,
Sr. Sec’d. Notes, 144A (original cost $774,718; purchased 12/15/22 - 05/16/23)(f) 		13.000 12/16/27   776 777,582
TransDigm, Inc.,
Gtd. Notes 		4.625 01/15/29   700 603,103
26
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
United States (cont’d.)
     
Transocean, Inc.,
Gtd. Notes, 144A 		8.000 % 02/01/27   150  $140,327
TriMas Corp.,
Gtd. Notes, 144A(aa) 		4.125 04/15/29   1,200 1,005,696
United Airlines, Inc.,          
Sr. Sec’d. Notes, 144A 4.375 04/15/26   850 790,579
Sr. Sec’d. Notes, 144A(aa) 4.625 04/15/29   1,086 918,155
United Rentals North America, Inc.,          
Gtd. Notes(aa) 3.750 01/15/32   975 775,733
Gtd. Notes 3.875 02/15/31   477 391,885
Gtd. Notes(aa) 5.250 01/15/30   1,200 1,097,427
Univision Communications, Inc.,          
Sr. Sec’d. Notes, 144A(aa) 4.500 05/01/29   475 377,682
Sr. Sec’d. Notes, 144A(aa) 6.625 06/01/27   4,475 4,087,490
     
 
Valaris Ltd.,
Sec’d. Notes, 144A 		8.375 04/30/30   375 367,500
Vector Group Ltd.,
Sr. Sec’d. Notes, 144A(aa) 		5.750 02/01/29   1,950 1,653,254
Venture Global LNG, Inc.,          
Sr. Sec’d. Notes, 144A 9.500 02/01/29   2,675 2,713,273
Sr. Sec’d. Notes, 144A 9.875 02/01/32   2,875 2,915,927
     
 
Verscend Escrow Corp.,
Sr. Unsec’d. Notes, 144A 		9.750 08/15/26   445 441,935
Viasat, Inc.,          
Sr. Unsec’d. Notes, 144A(aa) 5.625 09/15/25   1,650 1,531,775
Sr. Unsec’d. Notes, 144A 7.500 05/30/31   575 375,978
Viking Cruises Ltd.,          
Gtd. Notes, 144A 5.875 09/15/27   1,000 900,900
Sr. Unsec’d. Notes, 144A 7.000 02/15/29   750 678,750
     
 
Viking Ocean Cruises Ship VII Ltd.,
Sr. Sec’d. Notes, 144A 		5.625 02/15/29   250 221,250
Vista Outdoor, Inc.,
Gtd. Notes, 144A 		4.500 03/15/29   250 232,713
Vistra Corp.,          
Jr. Sub. Notes, 144A 7.000(ff) 12/15/26(oo)   750 685,599
Jr. Sub. Notes, 144A(aa) 8.000(ff) 10/15/26(oo)   875 831,324
Vistra Operations Co. LLC,          
Gtd. Notes, 144A(aa) 4.375 05/01/29   1,375 1,165,572
Gtd. Notes, 144A(aa) 5.000 07/31/27   1,330 1,220,212
Gtd. Notes, 144A(aa) 5.625 02/15/27   1,100 1,035,228
27
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
United States (cont’d.)
Vital Energy, Inc.,          
Gtd. Notes 9.750 % 10/15/30   175  $171,545
Gtd. Notes 10.125 01/15/28   175 175,505
     
 
VOC Escrow Ltd.,
Sr. Sec’d. Notes, 144A 		5.000 02/15/28   650 581,547
VT Topco, Inc.,
Sr. Sec’d. Notes, 144A 		8.500 08/15/30   300 292,482
White Cap Buyer LLC,
Sr. Unsec’d. Notes, 144A 		6.875 10/15/28   575 503,450
Windsor Holdings III LLC,
Sr. Sec’d. Notes, 144A 		8.500 06/15/30   850 832,964
Wolverine World Wide, Inc.,
Gtd. Notes, 144A(aa) 		4.000 08/15/29   1,600 1,191,439
WR Grace Holdings LLC,
Sr. Sec’d. Notes, 144A 		7.375 03/01/31   200 185,400
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.,
Gtd. Notes, 144A(aa) 		5.125 10/01/29   860 734,321
XPO Escrow Sub LLC,
Gtd. Notes, 144A 		7.500 11/15/27   275 274,642
XPO, Inc.,
Gtd. Notes, 144A(aa) 		7.125 06/01/31   1,050 1,022,918
          265,158,353
Vietnam 0.3%
Mong Duong Finance Holdings BV,
Sr. Sec’d. Notes, 144A (aa) 		5.125 05/07/29   1,530 1,377,796
Zambia 0.5%
First Quantum Minerals Ltd.,          
Gtd. Notes, 144A 6.875 03/01/26   200 175,450
Gtd. Notes, 144A(aa) 7.500 04/01/25   1,844 1,719,714
Gtd. Notes, 144A 8.625 06/01/31   775 652,938
          2,548,102
     
 
Total Corporate Bonds
(cost $556,795,436) 		463,089,307
28
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Floating Rate and Other Loans 3.5%
Jamaica 0.5%
Digicel International Finance Ltd.,
First Lien Initial Term B Loan, 6 Month LIBOR + 3.250% 		8.981 %(c) 05/27/24   2,398  $2,192,158
United Kingdom 1.0%
Constellation Automotive Group Ltd.,
Facility 1 Loan, SONIA + 7.500% 		12.709(c) 07/27/29 GBP 3,000 2,455,817
EG Group Ltd.,
Additional Second Lien Loan Facility, 3 Month EURIBOR + 7.000% 		10.972(c) 04/30/27 EUR 2,780 2,635,109
          5,090,926
United States 2.0%
CSC Holdings LLC,
2022 Refinancing Term Loan, 1 Month SOFR + 4.500% 		9.835(c) 01/18/28   3,227 3,007,830
Diamond Sports Group LLC,          
First Lien Term Loan, 1 Month SOFR + 10.100% 12.775(c) 05/25/26   260 97,393
Second Lien Term Loan, 6 Month SOFR + 3.500% 10.685(c) 08/24/26   265 2,984
     
 
Great Outdoors Group LLC,
Term B-2 Loan, 3 Month SOFR + 4.012% 		9.402(c) 03/06/28   1,459 1,445,297
Heritage Power LLC,
Term Loan B, 3 Month LIBOR + 6.000% 		12.500(c) 07/30/26(d)   2,470 494,690
McAfee Corp.,
Tranche B-1 Term Loan, 1 Month SOFR + 3.850% 		9.165(c) 03/01/29   1,122 1,067,278
MLN US HoldCo LLC,          
3L Term B Loans, 3 Month SOFR + 9.250%^ 14.745(c) 10/18/27   4 320
Initial Term Loan, 3 Month SOFR + 6.440% 11.935(c) 10/18/27   27 18,328
Initial Term Loan (Second Out (1st Lien Roll-Up)), 3 Month SOFR + 6.800% 12.195(c) 10/18/27   61 15,687
     
 
NCR Atleos, LLC,
Term B Loan, 1 Month SOFR + 4.850% 		10.176(c) 03/27/29   1,250 1,192,709
Skillsoft Finance II, Inc.,
Initial Term Loan, 1 Month SOFR + 5.364% 		10.699(c) 07/14/28   1,410 1,280,126
29
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Floating Rate and Other Loans (Continued)
United States (cont’d.)
     
Univision Communications, Inc.,
2021 Replacement Term Loan, 1 Month SOFR + 3.364% 		8.689 %(c) 03/15/26   526  $521,444
Venator Finance Sarl,
Term Loan 		—(p) 10/12/28   664 649,888
          9,793,974
     
 
Total Floating Rate and Other Loans
(cost $21,978,148) 		17,077,058
Sovereign Bonds 20.2%
Angola 1.1%
Angolan Government International Bond,          
Sr. Unsec’d. Notes 8.250 05/09/28   3,160 2,682,050
Sr. Unsec’d. Notes 9.500 11/12/25   2,445 2,344,908
Sr. Unsec’d. Notes, EMTN 8.000 11/26/29   650 520,000
          5,546,958
Argentina 1.5%
Argentine Republic Government International
Bond, 		         
Sr. Unsec’d. Notes 0.750(cc) 07/09/30   6,608 1,836,931
Sr. Unsec’d. Notes 1.000 07/09/29   1,237 330,959
Sr. Unsec’d. Notes 3.625(cc) 07/09/35   1,864 458,460
Sr. Unsec’d. Notes 4.250(cc) 01/09/38   13,769 4,144,543
     
 
Provincia de Buenos Aires,
Sr. Unsec’d. Notes, 144A, MTN 		6.375(cc) 09/01/37   1,284 411,654
          7,182,547
Bahrain 0.3%
Bahrain Government International Bond,          
Sr. Unsec’d. Notes(aa) 6.750 09/20/29   1,240 1,195,050
Sr. Unsec’d. Notes 7.000 10/12/28   430 427,312
          1,622,362
30
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Sovereign Bonds (Continued)
Brazil 1.5%
Brazilian Government International Bond,          
Sr. Unsec’d. Notes(aa) 3.875 % 06/12/30   3,960  $3,398,511
Sr. Unsec’d. Notes(aa) 4.500 05/30/29   3,170 2,918,207
Sr. Unsec’d. Notes(aa) 5.625 01/07/41   1,500 1,218,750
          7,535,468
Cameroon 0.3%
Republic of Cameroon International Bond,          
Sr. Unsec’d. Notes 5.950 07/07/32 EUR 290 197,055
Sr. Unsec’d. Notes 9.500 11/19/25   1,080 1,036,130
          1,233,185
Colombia 1.7%
Colombia Government International Bond,          
Sr. Unsec’d. Notes(aa) 3.000 01/30/30   3,200 2,457,600
Sr. Unsec’d. Notes(aa) 3.875 04/25/27   1,290 1,172,610
Sr. Unsec’d. Notes(aa) 4.500 03/15/29   1,770 1,534,590
Sr. Unsec’d. Notes(aa) 6.125 01/18/41   2,645 2,010,200
Sr. Unsec’d. Notes 7.375 09/18/37   780 700,050
Sr. Unsec’d. Notes 7.500 02/02/34   430 400,975
          8,276,025
Dominican Republic 1.8%
Dominican Republic International Bond,          
Sr. Unsec’d. Notes 5.500 01/27/25   1,225 1,201,872
Sr. Unsec’d. Notes 5.950 01/25/27   3,000 2,882,730
Sr. Unsec’d. Notes 6.850 01/27/45   1,840 1,531,800
Sr. Unsec’d. Notes 7.450 04/30/44   2,300 2,067,700
Sr. Unsec’d. Notes, 144A 5.875 01/30/60   855 606,195
Sr. Unsec’d. Notes, 144A 7.050 02/03/31   320 306,560
          8,596,857
Ecuador 0.4%
Ecuador Government International Bond,          
Sr. Unsec’d. Notes 6.000(cc) 07/31/30   720 364,680
Sr. Unsec’d. Notes, 144A 2.500(cc) 07/31/40   901 301,525
Sr. Unsec’d. Notes, 144A 3.500(cc) 07/31/35   1,829 693,123
31
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Sovereign Bonds (Continued)
Ecuador (cont’d.)
Ecuador Government International Bond, (cont’d.)          
Sr. Unsec’d. Notes, 144A 5.583 %(s) 07/31/30   414  $122,692
Sr. Unsec’d. Notes, 144A 6.000(cc) 07/31/30   786 397,957
          1,879,977
Egypt 0.9%
Egypt Government International Bond,          
Sr. Unsec’d. Notes 5.800 09/30/27   335 213,563
Sr. Unsec’d. Notes, 144A, MTN 6.375 04/11/31 EUR 1,845 1,050,320
Sr. Unsec’d. Notes, EMTN 4.750 04/11/25 EUR 330 276,392
Sr. Unsec’d. Notes, EMTN 4.750 04/16/26 EUR 3,340 2,391,008
Sr. Unsec’d. Notes, EMTN 5.625 04/16/30 EUR 860 484,975
          4,416,258
El Salvador 0.2%
El Salvador Government International Bond,
Sr. Unsec’d. Notes 		8.250 04/10/32   1,000 777,500
Gabon 0.4%
Gabon Government International Bond,          
Sr. Unsec’d. Notes 6.625 02/06/31   340 238,850
Sr. Unsec’d. Notes 6.950 06/16/25   1,220 1,058,350
Sr. Unsec’d. Notes, 144A 6.625 02/06/31   650 456,625
Sr. Unsec’d. Notes, 144A 7.000 11/24/31   540 379,350
          2,133,175
Ghana 0.2%
Ghana Government International Bond,          
Sr. Unsec’d. Notes 7.875 03/26/27(d)   1,860 809,100
Sr. Unsec’d. Notes 8.125 01/18/26(d)   390 171,113
          980,213
Guatemala 0.3%
Guatemala Government Bond,          
Sr. Unsec’d. Notes 4.375 06/05/27   1,140 1,043,100
32
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Sovereign Bonds (Continued)
Guatemala (cont’d.)
Guatemala Government Bond, (cont’d.)          
Sr. Unsec’d. Notes 4.900 % 06/01/30   450  $400,275
Sr. Unsec’d. Notes 6.125 06/01/50   300 238,500
          1,681,875
Honduras 0.2%
Honduras Government International Bond,
Sr. Unsec’d. Notes 		6.250 01/19/27   930 864,165
Hungary 0.2%
Magyar Export-Import Bank Zrt,
Gov’t. Gtd. Notes, 144A 		6.125 12/04/27   890 869,886
Iraq 0.1%
Iraq International Bond,
Sr. Unsec’d. Notes 		5.800 01/15/28   667 591,921
Ivory Coast 0.9%
Ivory Coast Government International Bond,          
Sr. Unsec’d. Notes 4.875 01/30/32 EUR 270 215,337
Sr. Unsec’d. Notes 5.250 03/22/30 EUR 2,480 2,158,312
Sr. Unsec’d. Notes 5.875 10/17/31 EUR 1,245 1,062,101
Sr. Unsec’d. Notes 6.875 10/17/40 EUR 1,460 1,118,068
          4,553,818
Jordan 0.1%
Jordan Government International Bond,
Sr. Unsec’d. Notes, 144A 		7.500 01/13/29   515 477,019
Lebanon 0.1%
Lebanon Government International Bond,          
Sr. Unsec’d. Notes, EMTN 6.100 10/04/22(d)   2,000 122,040
Sr. Unsec’d. Notes, GMTN 6.250 05/27/22(d)   2,550 153,000
          275,040
33
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Sovereign Bonds (Continued)
Mongolia 0.1%
Mongolia Government International Bond,
Sr. Unsec’d. Notes, EMTN 		8.750 % 03/09/24   270  $270,421
Morocco 0.6%
Morocco Government International Bond,          
Sr. Unsec’d. Notes 1.500 11/27/31 EUR 860 666,550
Sr. Unsec’d. Notes 2.000 09/30/30 EUR 1,150 973,452
Sr. Unsec’d. Notes, 144A 5.950 03/08/28   750 734,063
Sr. Unsec’d. Notes, 144A 6.500 09/08/33   495 474,581
          2,848,646
Mozambique 0.4%
Mozambique International Bond,
Unsec’d. Notes 		9.000 09/15/31   2,295 1,772,383
Nigeria 0.2%
Nigeria Government International Bond,          
Sr. Unsec’d. Notes 7.875 02/16/32   920 733,700
Sr. Unsec’d. Notes, EMTN 6.500 11/28/27   450 387,000
          1,120,700
Oman 0.8%
Oman Government International Bond,          
Sr. Unsec’d. Notes 5.625 01/17/28   1,525 1,469,734
Sr. Unsec’d. Notes 6.500 03/08/47   1,120 971,600
Sr. Unsec’d. Notes 6.750 01/17/48   720 641,700
Sr. Unsec’d. Notes, EMTN 6.000 08/01/29   1,015 984,550
          4,067,584
Pakistan 0.6%
Pakistan Government International Bond,          
Sr. Unsec’d. Notes 8.250 04/15/24   1,840 1,642,347
Sr. Unsec’d. Notes 8.250 09/30/25   290 203,249
Sr. Unsec’d. Notes, 144A 8.250 04/15/24   530 473,068
34
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Sovereign Bonds (Continued)
Pakistan (cont’d.)
Pakistan Government International Bond, (cont’d.)          
Sr. Unsec’d. Notes, 144A 8.250 % 09/30/25   610  $427,525
Sr. Unsec’d. Notes, EMTN 7.375 04/08/31   660 320,245
          3,066,434
Paraguay 0.2%
Paraguay Government International Bond,
Sr. Unsec’d. Notes 		6.100 08/11/44   950 794,200
Romania 0.7%
Romanian Government International Bond,
Sr. Unsec’d. Notes, 144A 		7.125 01/17/33   3,374 3,347,188
Senegal 0.4%
Senegal Government International Bond,          
Sr. Unsec’d. Notes 4.750 03/13/28 EUR 1,095 1,002,206
Sr. Unsec’d. Notes 5.375 06/08/37 EUR 610 413,082
Sr. Unsec’d. Notes, 144A 5.375 06/08/37 EUR 570 385,995
          1,801,283
Serbia 0.8%
Serbia International Bond,          
Sr. Unsec’d. Notes 1.500 06/26/29 EUR 1,490 1,215,929
Sr. Unsec’d. Notes 3.125 05/15/27 EUR 1,820 1,741,545
Sr. Unsec’d. Notes, 144A 6.250 05/26/28   500 484,970
Sr. Unsec’d. Notes, 144A 6.500 09/26/33   660 618,987
          4,061,431
South Africa 0.3%
Republic of South Africa Government International Bond,
Sr. Unsec’d. Notes (aa) 		4.850 09/30/29   1,690 1,434,388
Sri Lanka 0.2%
Sri Lanka Government International Bond,          
Sr. Unsec’d. Notes 5.750 04/18/23(d)   390 202,652
Sr. Unsec’d. Notes 6.200 05/11/27(d)   900 445,581
35
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Sovereign Bonds (Continued)
Sri Lanka (cont’d.)
Sri Lanka Government International Bond, (cont’d.)          
Sr. Unsec’d. Notes 7.550 % 03/28/30(d)   500  $248,215
Sr. Unsec’d. Notes 7.850 03/14/29(d)   400 197,896
          1,094,344
Turkey 1.8%
Turkey Government International Bond,          
Sr. Unsec’d. Notes(aa) 4.250 04/14/26   1,750 1,605,625
Sr. Unsec’d. Notes(aa) 4.875 10/09/26   3,000 2,760,000
Sr. Unsec’d. Notes 5.950 01/15/31   495 415,800
Sr. Unsec’d. Notes(aa) 6.000 03/25/27   525 492,844
Sr. Unsec’d. Notes 9.375 03/14/29   745 758,037
Sr. Unsec’d. Notes(aa) 9.375 01/19/33   1,465 1,463,169
     
 
Turkiye Government International Bond,
Sr. Unsec’d. Notes 		9.125 07/13/30   375 374,063
Turkiye Ihracat Kredi Bankasi A/S,
Sr. Unsec’d. Notes, 144A, MTN 		9.000 01/28/27   745 746,862
          8,616,400
Ukraine 0.6%
Ukraine Government International Bond,          
Sr. Unsec’d. Notes 4.375 01/27/32(d) EUR 605 142,634
Sr. Unsec’d. Notes 6.750 06/20/28(d) EUR 1,230 322,112
Sr. Unsec’d. Notes 7.750 09/01/24(d)   320 100,800
Sr. Unsec’d. Notes 7.750 09/01/25(d)   260 79,300
Sr. Unsec’d. Notes 7.750 09/01/26(d)   590 168,067
Sr. Unsec’d. Notes 7.750 09/01/27(d)   1,005 285,420
Sr. Unsec’d. Notes 7.750 09/01/28(d)   910 254,800
Sr. Unsec’d. Notes 7.750 09/01/29(d)   1,180 328,040
Sr. Unsec’d. Notes 8.994 02/01/26(d)   400 121,375
Sr. Unsec’d. Notes 9.750 11/01/30(d)   3,075 891,750
          2,694,298
United Arab Emirates 0.2%
Finance Department Government of Sharjah,
Sr. Unsec’d. Notes, 144A 		6.500 11/23/32   950 919,125
36
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Sovereign Bonds (Continued)
Zambia 0.1%
Zambia Government International Bond,          
Sr. Unsec’d. Notes 8.500 % 04/14/24(d)   670  $408,909
Sr. Unsec’d. Notes 8.970 07/30/27(d)   480 291,150
          700,059
     
 
Total Sovereign Bonds
(cost $133,926,605) 		98,103,133
    
      Shares  
Common Stocks 1.8%
Luxembourg 0.2%
Intelsat Emergence SA*       51,488 1,266,605
United States 1.6%
CEC Entertainment, Inc.       34,226 604,671
Chesapeake Energy Corp.       25,470 2,192,457
Ferrellgas Partners LP (Class B Stock)
(original cost $2,328,464; purchased 09/15/15 - 01/30/17)(f) 		      8,479 1,449,269
GenOn Energy Holdings, Inc. (Class A Stock)^       14,397 1,066,818
TPC Group, Inc.
(original cost $528,485; purchased 12/15/22)*^(f) 		      48,777 1,073,094
Venator Materials PLC*       323,465,518 1,292,245
          7,678,554
     
 
Total Common Stocks
(cost $6,495,674) 		8,945,159
Rights* 0.0%
Luxembourg 
Intelsat Jackson Holdings SA, Series A (Luxembourg) CVR, expiring 12/05/25^       5,390 33,687
37
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Description     Shares Value
Rights (Continued)*
Luxembourg (cont’d.)
Intelsat Jackson Holdings SA, Series B (Luxembourg) CVR, expiring 12/05/25^       5,390  $21,560
     
 
Total Rights
(cost $127) 		55,247
     
 
 
Total Long-Term Investments
(cost $740,522,445) 		608,751,096
 
Short-Term Investment 0.7%
Affiliated Mutual Fund 
PGIM Core Government Money Market Fund
(cost $3,479,791)(wb) 		    3,479,791 3,479,791
 
TOTAL INVESTMENTS 125.7%
(cost $744,002,236) 		612,230,887
Liabilities in excess of other assets(z) (25.7)% (125,331,885)
 
Net Assets 100.0% $486,899,002
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings:
    
  EUR—Euro
  GBP—British Pound
    
  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.
  BARC—Barclays Bank PLC
  BNP—BNP Paribas S.A.
  CDX—Credit Derivative Index
  CITI—Citibank, N.A.
  CLO—Collateralized Loan Obligation
  CVR—Contingent Value Rights
  DAC—Designated Activity Company
  EMTN—Euro Medium Term Note
  EURIBOR—Euro Interbank Offered Rate
  GMTN—Global Medium Term Note
  HSBC—HSBC Bank PLC
  iBoxx—Bond Market Indices
  iTraxx—International Credit Derivative Index
  LIBOR—London Interbank Offered Rate
  LP—Limited Partnership
  MSI—Morgan Stanley & Co International PLC
  MTN—Medium Term Note
38
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
  OTC—Over-the-counter
  PIK—Payment-in-Kind
  Q—Quarterly payment frequency for swaps
  SOFR—Secured Overnight Financing Rate
  SONIA—Sterling Overnight Index Average
  SSB—State Street Bank & Trust Company
  T—Swap payment upon termination
  TD—The Toronto-Dominion Bank
  UAG—UBS AG
    
* Non-income producing security.
# Principal or notional amount is shown in U.S. dollars unless otherwise stated.
^ Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $4,307,854 and 0.9% of net assets.
(aa) Represents security, or a portion thereof, with aggregate value of $302,919,121 segregated as collateral for amount of $145,000,000 borrowed and outstanding as of October 31, 2023.
(c) Variable rate instrument. The interest rate shown reflects the rate in effect at October 31, 2023.
(cc) Variable rate instrument. The rate shown is based on the latest available information as of October 31, 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 $14,488,472. The aggregate value of $7,509,062 is 1.5% 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.
(p) Represents a security with a delayed settlement and therefore the interest rate is not available until settlement which is after the period end.
(s) Represents zero coupon bond or principal only security. Rate represents yield to maturity at purchase date.
(wb) Represents an investment in a Fund affiliated with the Manager.
(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 October 31, 2023:
Number
of
Contracts 		  Type   Expiration
Date 		  Current
Notional
Amount 		  Value /
Unrealized
Appreciation
(Depreciation)
Long Positions:
154   2 Year U.S. Treasury Notes   Dec. 2023    $31,172,969    $(138,936)
214   5 Year Euro-Bobl   Dec. 2023   26,331,940   (240,191)
38   10 Year U.S. Treasury Notes   Dec. 2023   4,034,531   (69,740)
21   20 Year U.S. Treasury Bonds   Dec. 2023   2,298,187   (215,109)
30   30 Year U.S. Ultra Treasury Bonds   Dec. 2023   3,376,875   (436,007)
184   Euro Schatz Index   Dec. 2023   20,476,563   15,825
                (1,084,158)
39
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Futures contracts outstanding at October 31, 2023 (continued):
Number
of
Contracts 		  Type   Expiration
Date 		  Current
Notional
Amount 		  Value /
Unrealized
Appreciation
(Depreciation)
Short Positions:
32   5 Year U.S. Treasury Notes   Dec. 2023    $3,343,250    $(17,039)
3   10 Year Euro-Bund   Dec. 2023   409,453   10,536
46   10 Year U.K. Gilt   Dec. 2023   5,208,641   (38,913)
                (45,416)
                $(1,129,574)
 Forward foreign currency exchange contracts outstanding at October 31, 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 11/02/23   BNP   GBP 26,362    $31,967,243    $32,041,772    $74,529    $—
Euro,
Expiring 11/02/23   BNP   EUR 61,078   64,396,485   64,632,028   235,543   —
Expiring 11/02/23   BNP   EUR 1,415   1,499,964   1,497,697   —   (2,267)
Expiring 11/02/23   BNP   EUR 1,225   1,298,284   1,296,248   —   (2,036)
              $99,161,976   $99,467,745   310,072   (4,303)
    
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 11/02/23   BARC   GBP 21,400    $26,135,777    $26,010,911    $124,866    $—
Expiring 11/02/23   HSBC   GBP 3,236   3,944,287   3,933,743   10,544   —
Expiring 11/02/23   HSBC   GBP 829   1,006,481   1,007,636   —   (1,155)
Expiring 11/02/23   TD   GBP 896   1,094,260   1,089,481   4,779   —
Expiring 12/04/23   BNP   GBP 26,362   31,972,858   32,048,821   —   (75,963)
Euro,
Expiring 11/02/23   BNP   EUR 61,410   65,140,347   64,982,734   157,613   —
Expiring 11/02/23   BNP   EUR 284   300,522   300,022   500   —
Expiring 11/02/23   CITI   EUR 456   482,104   482,073   31   —
Expiring 11/02/23   HSBC   EUR 517   541,789   547,014   —   (5,225)
Expiring 11/02/23   SSB   EUR 166   176,089   176,049   40   —
Expiring 11/02/23   SSB   EUR 130   136,952   137,912   —   (960)
40
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
Forward foreign currency exchange contracts outstanding at October 31, 2023 (continued):
Sale
Contracts 		  Counterparty   Notional
Amount
(000) 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts (cont’d.):
Euro (cont’d.),
Expiring 11/02/23   UAG   EUR 756    $797,874    $800,170    $—    $(2,296)
Expiring 12/04/23   BNP   EUR 61,078   64,479,063   64,724,016   —   (244,953)
              $196,208,403   $196,240,582   298,373   (330,552)
                      $608,445   $(334,855)
Credit default swap agreements outstanding at October 31, 2023:
Reference
Entity/
Obligation 		Termination
Date 		  Fixed
Rate 		  Notional
Amount
(000)#(3) 		  Value at
Trade Date 		  Value at
October 31,
2023 		  Unrealized
Appreciation
(Depreciation) 		 
Centrally Cleared Credit Default Swap Agreements on credit indices - Buy Protection(1):  
CDX.NA.HY.41.V1 12/20/28   5.000%(Q)     15,430  $(10,504)    $5,598    $16,102
CDX.NA.IG.41.V1 12/20/28   1.000%(Q)     8,160 (115,060)   (84,495)   30,565
iTraxx.XO.40.V1 12/20/28   5.000%(Q)   EUR 8,090 (322,769)   (217,497)   105,272
                  $(448,333)   $(296,394)   $151,939
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.
41
PGIM Global High Yield Fund, Inc.
Schedule of Investments (unaudited) (continued)
as of October 31, 2023
(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.
    
Total return swap agreements outstanding at October 31, 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 US Dollar Investment Grade Index(T)   1 Day SOFR(Q)/ 5.350%   BNP   12/20/23   (5,210)    $417,670    $—    $417,670
iBoxx US Dollar Liquid High Yield Index(T)   1 Day SOFR(Q)/ 5.350%   MSI   03/20/24   (2,790)   456   —   456
                    $418,126   $—   $418,126
(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).
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