PGIM Global High Yield Fund, Inc.
New York Stock ExchangeCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Stuart S. Parker
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 655 Broad Street Newark NJ United States of America 07102
- IPO Date
- Dec 24, 2012
- CIK
- 0001554697
- Website
- pgim.com
- Similar Companies
- Business
- PGIM Global High Yield Fund, Inc. (NYSE: GHY) is a diversified, closed-end management investment company that seeks to provide a high level of current income by investing primarily in below investment-grade fixed income instruments of issuers located around the world, including emerging markets; at least 80% of its investable assets are allocated to global high yield bonds with varying maturities, supplemented by derivatives and other instruments with similar economic characteristics; the portfolio emphasizes sectors such as telecommunications, cable and satellite, retailers and restaurants, health care and pharmaceuticals, and energy, with significant geographic exposure to the United States (42%), United Kingdom, Argentina, France, Turkey, Canada, and Colombia. The fund, managed by PGIM Investments LLC and co-managed by PGIM Fixed Income, employs a leverage ratio of approximately 15.58%, maintains an average maturity of 6.1 years and leverage-adjusted duration of 4.7 years, and trades at a discount to net asset value, offering a market price distribution rate of around 10.12% based on monthly distributions of $0.105 per share. Launched on December 26, 2012, and headquartered in Newark, New Jersey as part of PGIM, Inc. (a Prudential Financial company), GHY targets income-focused investors seeking international diversification in high yield securities rated Ba1/BB+ or lower by Moody's or S&P. In recent developments, the fund has continued its consistent monthly distribution policy through 2025, declaring payments for December 2024 through February 2026 alongside peer PGIM closed-end funds, while maintaining portfolio adjustments amid market volatility, including top holdings in Argentine, Turkish, and Colombian sovereign debt as well as corporate issuers like EG Global Finance and Virgin Media; no major acquisitions, funding rounds, or strategic reorganizations have been reported in the last 1-2 years, with focus remaining on high yield bond opportunities in a declining U.S. dollar environment that supports its global diversification strategy.
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