NPORT-EX 2 PI72650PGIMHighYieldBondFd.htm DOS
PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of February 29, 2020 (unaudited)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Long-Term Investments 123.8%
Bank Loans 12.9%
Auto Manufacturers 0.4%
Navistar, Inc.,
Tranche B Term Loan, 1 Month LIBOR + 3.500% 		5.160 %(c) 11/06/24   2,222  $ 2,193,892
Chemicals 1.2%
Alpha Bidco, Inc. (United Kingdom),
Initial Term B-1 Loan, 3 Month LIBOR + 3.000% 		4.945(c) 01/31/24   491 472,590
Hexion, Inc.,
Senior Secured Term B Loan, 3 Month LIBOR + 3.500%^ 		5.410(c) 07/01/26   1,500 1,481,250
Solenis International LP,          
First Lien Initial Dollar Term Loan, 1 - 3 Month LIBOR + 4.000%^ 5.610(c) 06/26/25   3,691 3,614,153
Second Lien Initial Term Loan, 3 Month LIBOR + 8.500%^ 10.113(c) 06/26/26   1,000 945,000
          6,512,993
Computers 1.9%
McAfee LLC,          
Second Lien Initial Loan, 1 Month LIBOR + 8.500% 10.103(c) 09/29/25   3,619 3,623,273
Term B USD Loan, 1 Month LIBOR + 3.750% 5.353(c) 09/30/24   4,939 4,904,521
     
 
Surf Holdings LLC,
Term Loan 		—(p) 02/25/27   1,500 1,485,000
          10,012,794
Electric 0.4%
Heritage Power LLC,
Term Loan B, 3 Month LIBOR + 6.000%^ 		7.771(c) 07/30/26   2,145 2,034,713
Entertainment 0.5%
Playtika Holding Corp.,
Term B Loan, 1 Month LIBOR + 6.000% 		7.603(c) 12/10/24   2,300 2,297,125
Scientific Games International, Inc.,
Initial Term B-5 Loan, 1 - 2 Month LIBOR + 2.750% 		4.359(c) 08/14/24   299 289,974
          2,587,099
Healthcare-Services 0.1%
MPH Acquisition Holdings LLC,
Initial Term Loan, 3 Month LIBOR + 2.750% 		4.695(c) 06/07/23   750 719,250
1

PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of February 29, 2020 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Bank Loans (Continued)
Insurance 0.5%
Asurion LLC,
Second Lien Replacement B-2 Term Loan, 1 Month LIBOR + 6.500%^ 		8.103 %(c) 08/04/25   2,725  $ 2,718,187
Media 0.2%
iHeartCommunications, Inc.,
New Term Loan, 3 Month LIBOR + 3.000% 		4.655(c) 05/01/26   1,300 1,285,375
Oil & Gas 1.2%
Chesapeake Energy Corp.,
Class A Loan, 3 Month LIBOR + 8.000% 		9.928(c) 06/24/24   4,850 4,377,125
Citgo Holding, Inc.,
Term Loan, 1 Month LIBOR + 7.000%^ 		8.603(c) 08/01/23   574 573,563
CITGO Petroleum Corp.,          
2019 Incremental Term B Loan, 3 Month LIBOR + 5.000%^ 6.945(c) 03/27/24   868 864,095
Term B Loan, 3 Month LIBOR + 4.500%^ 6.445(c) 07/29/21   841 839,020
          6,653,803
Pharmaceuticals 0.2%
Mallinckrodt International Finance SA,          
2017 Term B Loan, 3 Month LIBOR + 2.750% 4.695(c) 09/24/24   715 637,471
2018 Incremental Term Loan, 3 Month LIBOR + 3.000% 4.704(c) 02/24/25   183 161,748
          799,219
Retail 0.4%
CEC Entertainment, Inc.,
Term B Loan, 1 Month LIBOR + 6.500% 		8.103(c) 08/31/26   561 531,987
Sally Holdings LLC,
Term B-2 Loan 		4.500 07/05/24   1,875 1,854,688
          2,386,675
Software 2.4%
Finastra USA, Inc.,          
Dollar Term Loan (Second Lien), 3 Month LIBOR + 7.250% 9.027(c) 06/13/25   1,400 1,333,500
First Lien Dollar Term Loan, 3 Month LIBOR + 3.500% 5.277(c) 06/13/24   3,835 3,638,231
Informatica LLC,          
Term Loan —(p) 02/14/25   675 659,812
2

PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of February 29, 2020 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Bank Loans (Continued)
Software (cont’d.)
Informatica LLC, (cont’d.)          
Term Loan — %(p) 02/14/27   1,400  $ 1,368,500
TIBCO Software, Inc.,          
Term Loan —(p) 07/03/26   3,000 3,011,250
Term Loan —(p) 02/14/28   3,025 3,081,719
          13,093,012
Telecommunications 3.5%
Digicel International Finance Ltd. (Saint Lucia),
First Lien Initial Term B Loan, 3 Month LIBOR + 3.250% 		4.870(c) 05/27/24   3,344 3,042,550
Intelsat Jackson Holdings SA (Luxembourg),
Tranche B-5 Term Loan 		6.625 01/02/24   4,795 4,821,972
West Corp.,
Initial Term B Loan, 1 Month LIBOR + 4.000% 		5.603(c) 10/10/24   3,492 2,774,259
Xplornet Communications, Inc. (Canada),
New Term B Loan, 3 Month LIBOR + 4.000%^ 		5.945(c) 09/09/21   8,342 8,279,470
          18,918,251
     
 
Total Bank Loans
(cost $70,994,572) 		69,915,263
Corporate Bonds 110.4%
Advertising 1.4%
National CineMedia LLC,          
Sr. Sec’d. Notes, 144A(aa) 5.875 04/15/28   1,125 1,152,274
Sr. Unsec’d. Notes(aa) 5.750 08/15/26   1,175 1,169,204
     
 
Outfront Media Capital LLC/Outfront Media Capital Corp.,
Gtd. Notes(aa) 		5.625 02/15/24   2,975 3,031,655
Terrier Media Buyer, Inc.,
Gtd. Notes, 144A 		8.875 12/15/27   2,355 2,337,455
          7,690,588
Aerospace & Defense 2.7%
Bombardier, Inc. (Canada),          
Sr. Unsec’d. Notes, 144A(aa) 7.500 12/01/24   2,075 2,102,621
Sr. Unsec’d. Notes, 144A 7.500 03/15/25   800 790,717
Sr. Unsec’d. Notes, 144A(aa) 7.875 04/15/27   2,900 2,861,903
3

PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of February 29, 2020 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Aerospace & Defense (cont’d.)
Bombardier, Inc. (Canada), (cont’d.)          
Sr. Unsec’d. Notes, 144A(aa) 8.750 % 12/01/21   6,900   $7,348,787
     
 
SSL Robotics LLC,
Sr. Sec’d. Notes, 144A(aa) 		9.750 12/31/23   1,350 1,436,116
          14,540,144
Agriculture 0.6%
Vector Group Ltd.,          
Gtd. Notes, 144A 10.500 11/01/26   575 573,560
Sr. Sec’d. Notes, 144A(aa) 6.125 02/01/25   2,650 2,562,554
          3,136,114
Auto Manufacturers 1.3%
Allison Transmission, Inc.,
Sr. Unsec’d. Notes, 144A 		5.875 06/01/29   419 453,905
Ford Motor Co.,          
Sr. Unsec’d. Notes 4.750 01/15/43   2,900 2,550,395
Sr. Unsec’d. Notes 5.291 12/08/46   3,300 3,021,823
     
 
Ford Motor Credit Co. LLC,
Sr. Unsec’d. Notes 		5.584 03/18/24   310 332,435
Navistar International Corp.,
Gtd. Notes, 144A 		6.625 11/01/25   795 825,085
          7,183,643
Auto Parts & Equipment 2.3%
Adient Global Holdings Ltd.,
Gtd. Notes, 144A 		4.875 08/15/26   2,825 2,435,240
American Axle & Manufacturing, Inc.,          
Gtd. Notes(aa) 6.250 04/01/25   1,275 1,235,553
Gtd. Notes(aa) 6.250 03/15/26   686 660,834
Gtd. Notes(aa) 6.500 04/01/27   2,450 2,354,003
     
 
Cooper-Standard Automotive, Inc.,
Gtd. Notes, 144A(aa) 		5.625 11/15/26   1,490 1,329,659
Dana Financing Luxembourg Sarl,          
Gtd. Notes, 144A 5.750 04/15/25   500 516,373
Gtd. Notes, 144A(aa) 6.500 06/01/26   2,665 2,809,768
     
 
4

PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of February 29, 2020 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Auto Parts & Equipment (cont’d.)
     
Dana, Inc.,
Sr. Unsec’d. Notes 		5.375 % 11/15/27   200  $ 205,370
Titan International, Inc.,
Sr. Sec’d. Notes(aa) 		6.500 11/30/23   1,000 785,689
          12,332,489
Banks 0.9%
CIT Group, Inc.,
Sub. Notes(aa) 		6.125 03/09/28   1,500 1,801,770
Popular, Inc. (Puerto Rico),
Sr. Unsec’d. Notes 		6.125 09/14/23   2,875 3,026,713
          4,828,483
Building Materials 2.4%
Cornerstone Building Brands, Inc.,
Gtd. Notes, 144A(aa) 		8.000 04/15/26   1,325 1,311,688
Griffon Corp.,
Sr. Unsec’d. Notes, 144A 		5.750 03/01/28   1,150 1,158,691
Masonite International Corp.,          
Gtd. Notes, 144A 5.375 02/01/28   305 320,336
Gtd. Notes, 144A 5.750 09/15/26   675 717,840
     
 
Patrick Industries, Inc.,
Sr. Unsec’d. Notes, 144A 		7.500 10/15/27   975 1,060,459
Standard Industries, Inc.,
Sr. Unsec’d. Notes, 144A(aa) 		4.750 01/15/28   2,475 2,545,592
Summit Materials LLC/Summit Materials Finance Corp.,          
Gtd. Notes 6.125 07/15/23   170 171,042
Gtd. Notes, 144A(aa) 6.500 03/15/27   1,500 1,609,542
     
 
U.S. Concrete, Inc.,
Gtd. Notes(aa) 		6.375 06/01/24   3,900 3,975,689
          12,870,879
Chemicals 5.5%
Ashland LLC,
Gtd. Notes 		6.875 05/15/43   2,125 2,531,900
Atotech Alpha 2 BV (Germany),
Sr. Unsec’d. Notes, 144A, Cash coupon 8.750% or PIK 9.500%(aa) 		8.750 06/01/23   1,825 1,848,278
5

PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of February 29, 2020 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Chemicals (cont’d.)
Atotech Alpha 3 BV/Alpha US Bidco, Inc. (United Kingdom),
Gtd. Notes, 144A(aa) 		6.250 % 02/01/25   1,400  $ 1,436,281
Chemours Co. (The),          
Gtd. Notes(aa) 5.375 05/15/27   1,485 1,275,202
Gtd. Notes(aa) 6.625 05/15/23   4,430 4,273,185
Gtd. Notes(aa) 7.000 05/15/25   1,500 1,403,471
     
 
Cornerstone Chemical Co.,
Sr. Sec’d. Notes, 144A(aa) 		6.750 08/15/24   2,255 2,023,866
Hexion, Inc.,
Gtd. Notes, 144A(aa) 		7.875 07/15/27   2,200 2,189,971
NOVA Chemicals Corp. (Canada),          
Sr. Unsec’d. Notes, 144A(aa) 4.875 06/01/24   1,100 1,066,531
Sr. Unsec’d. Notes, 144A(aa) 5.250 06/01/27   1,200 1,141,235
     
 
Rain CII Carbon LLC/CII Carbon Corp.,
Sec’d. Notes, 144A(aa) 		7.250 04/01/25   1,500 1,445,933
Starfruit Finco BV/Starfruit US Holdco LLC (Netherlands),
Sr. Unsec’d. Notes, 144A 		8.000 10/01/26   2,405 2,388,747
TPC Group, Inc.,
Sr. Sec’d. Notes, 144A(aa) 		10.500 08/01/24   1,200 1,218,874
Tronox Finance PLC,
Gtd. Notes, 144A(aa) 		5.750 10/01/25   940 889,214
Tronox, Inc.,
Gtd. Notes, 144A(aa) 		6.500 04/15/26   3,025 2,903,177
Valvoline, Inc.,
Gtd. Notes, 144A 		4.250 02/15/30   460 453,701
Venator Finance Sarl/Venator Materials LLC,
Gtd. Notes, 144A(aa) 		5.750 07/15/25   1,225 1,117,145
WR Grace & Co-Conn,
Gtd. Notes, 144A 		5.625 10/01/24   100 110,524
          29,717,235
Commercial Services 5.6%
Allied Universal Holdco LLC/Allied Universal Finance
Corp., 		         
Sr. Sec’d. Notes, 144A 6.625 07/15/26   250 262,076
Sr. Unsec’d. Notes, 144A(aa) 9.750 07/15/27   2,400 2,560,229
     
 
AMN Healthcare, Inc.,
Gtd. Notes, 144A 		4.625 10/01/27   400 407,506
6

PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of February 29, 2020 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Commercial Services (cont’d.)
     
Laureate Education, Inc.,
Gtd. Notes, 144A(aa) 		8.250 % 05/01/25   4,500  $ 4,772,293
Nielsen Co. Luxembourg SARL (The),
Gtd. Notes, 144A(aa) 		5.500 10/01/21   677 678,207
Refinitiv US Holdings, Inc.,
Gtd. Notes, 144A(aa) 		8.250 11/15/26   7,662 8,468,576
United Rentals North America, Inc.,          
Gtd. Notes 4.000 07/15/30   700 685,409
Gtd. Notes(aa) 4.875 01/15/28   7,025 7,219,780
Gtd. Notes(aa) 5.250 01/15/30   1,425 1,508,250
Gtd. Notes(aa) 6.500 12/15/26   1,500 1,602,707
     
 
Verscend Escrow Corp.,
Sr. Unsec’d. Notes, 144A(aa) 		9.750 08/15/26   1,750 1,907,512
          30,072,545
Computers 1.7%
Banff Merger Sub, Inc.,
Sr. Unsec’d. Notes, 144A(aa) 		9.750 09/01/26   6,050 6,092,532
Everi Payments, Inc.,
Gtd. Notes, 144A 		7.500 12/15/25   1,127 1,180,956
NCR Corp.,
Gtd. Notes, 144A(aa) 		5.750 09/01/27   1,000 1,052,985
Tempo Acquisition LLC/Tempo Acquisition Finance Corp.,
Sr. Unsec’d. Notes, 144A(aa) 		6.750 06/01/25   825 823,421
          9,149,894
Distribution/Wholesale 0.4%
Anixter, Inc.,
Gtd. Notes 		6.000 12/01/25   1,300 1,389,943
H&E Equipment Services, Inc.,
Gtd. Notes 		5.625 09/01/25   689 715,739
          2,105,682
Diversified Financial Services 4.5%
Alliance Data Systems Corp.,
Gtd. Notes, 144A 		4.750 12/15/24   1,075 1,059,763
Avolon Holdings Funding Ltd. (Ireland),          
Gtd. Notes, 144A 5.125 10/01/23   2,125 2,276,606
Gtd. Notes, 144A 5.500 01/15/23   1,875 2,019,324
7

PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of February 29, 2020 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Diversified Financial Services (cont’d.)
     
 
Fairstone Financial, Inc. (Canada),
Sr. Unsec’d. Notes, 144A 		7.875 % 07/15/24   1,030  $ 1,123,721
LPL Holdings, Inc.,
Gtd. Notes, 144A(aa) 		5.750 09/15/25   1,280 1,335,604
Nationstar Mortgage Holdings, Inc.,          
Gtd. Notes, 144A 6.000 01/15/27   900 914,195
Gtd. Notes, 144A(aa) 8.125 07/15/23   6,200 6,472,145
     
 
Navient Corp.,
Sr. Unsec’d. Notes, MTN(aa) 		8.000 03/25/20   132 132,387
Park Aerospace Holdings Ltd. (Ireland),
Gtd. Notes, 144A 		5.500 02/15/24   150 164,431
Springleaf Finance Corp.,          
Gtd. Notes(aa) 5.375 11/15/29   1,150 1,175,373
Gtd. Notes 6.625 01/15/28   500 549,310
Gtd. Notes(aa) 6.875 03/15/25   350 388,675
Gtd. Notes(aa) 7.125 03/15/26   6,074 6,739,758
          24,351,292
Electric 4.3%
Calpine Corp.,          
Sr. Unsec’d. Notes 5.500 02/01/24   300 296,176
Sr. Unsec’d. Notes(aa) 5.750 01/15/25   6,325 6,305,581
Sr. Unsec’d. Notes, 144A(aa) 5.125 03/15/28   5,950 5,609,010
     
 
Keystone & Conemaugh Pass-Through Certificates,
Gtd. Notes, 144A 		9.000 12/01/23   85 86,143
Keystone Power Pass-Through Holders LLC/Conemaugh Power Pass-Through Holders,
Sub. Notes, 144A, Cash coupon 13.000% or PIK 13.000% 		13.000 06/01/24   280 262,764
NRG Energy, Inc.,          
Gtd. Notes(aa) 5.750 01/15/28   2,150 2,245,786
Gtd. Notes, 144A 5.250 06/15/29   400 417,332
Vistra Operations Co. LLC,          
Gtd. Notes, 144A 5.000 07/31/27   1,100 1,112,591
Gtd. Notes, 144A(aa) 5.625 02/15/27   6,950 7,122,628
          23,458,011
Energy-Alternate Sources 0.1%
Enviva Partners LP/Enviva Partners Finance Corp.,
Gtd. Notes, 144A 		6.500 01/15/26   600 624,866
8

PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of February 29, 2020 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Engineering & Construction 1.0%
AECOM,          
Gtd. Notes(aa) 5.125 % 03/15/27   2,490  $ 2,575,909
Gtd. Notes 5.875 10/15/24   675 730,209
     
 
TopBuild Corp.,
Gtd. Notes, 144A(aa) 		5.625 05/01/26   2,156 2,251,626
          5,557,744
Entertainment 5.9%
AMC Entertainment Holdings, Inc.,          
Gtd. Notes 5.750 06/15/25   675 544,129
Gtd. Notes(aa) 5.875 11/15/26   4,250 3,392,853
     
 
Caesars Resort Collection LLC/CRC Finco, Inc.,
Gtd. Notes, 144A(aa) 		5.250 10/15/25   3,975 3,939,252
CCM Merger, Inc.,
Sr. Unsec’d. Notes, 144A(aa) 		6.000 03/15/22   4,000 4,065,640
Eldorado Resorts, Inc.,
Gtd. Notes(aa) 		7.000 08/01/23   1,950 2,012,727
Golden Entertainment, Inc.,
Sr. Unsec’d. Notes, 144A(aa) 		7.625 04/15/26   1,850 1,985,828
International Game Technology PLC,
Sr. Sec’d. Notes, 144A 		6.500 02/15/25   2,450 2,654,699
Jacobs Entertainment, Inc.,
Sec’d. Notes, 144A(aa) 		7.875 02/01/24   2,500 2,642,755
Penn National Gaming, Inc.,
Sr. Unsec’d. Notes, 144A(aa) 		5.625 01/15/27   2,030 2,078,271
Scientific Games International, Inc.,          
Gtd. Notes(aa) 6.625 05/15/21   3,025 3,020,841
Gtd. Notes, 144A 7.000 05/15/28   700 682,982
Gtd. Notes, 144A 7.250 11/15/29   700 683,290
Gtd. Notes, 144A(aa) 8.250 03/15/26   2,075 2,142,615
     
 
Twin River Worldwide Holdings, Inc.,
Sr. Unsec’d. Notes, 144A(aa) 		6.750 06/01/27   1,320 1,381,018
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.,
Gtd. Notes, 144A 		5.125 10/01/29   860 836,683
          32,063,583
Foods 3.0%
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC,
Gtd. Notes, 144A 		4.875 02/15/30   600 600,000
9

PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of February 29, 2020 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Foods (cont’d.)
B&G Foods, Inc.,          
Gtd. Notes(aa) 5.250 % 04/01/25   475  $ 469,718
Gtd. Notes 5.250 09/15/27   1,325 1,289,461
JBS USA LUX SA/JBS USA Finance, Inc.,          
Gtd. Notes, 144A 5.750 06/15/25   900 924,189
Gtd. Notes, 144A 5.875 07/15/24   500 512,662
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance,
Inc., 		         
Gtd. Notes, 144A(aa) 6.500 04/15/29   1,025 1,113,514
Sr. Unsec’d. Notes, 144A(aa) 5.500 01/15/30   2,000 2,116,404
     
 
Pilgrim’s Pride Corp.,
Gtd. Notes, 144A(aa) 		5.875 09/30/27   4,850 5,033,092
Post Holdings, Inc.,          
Gtd. Notes, 144A(aa) 5.500 12/15/29   2,200 2,283,135
Gtd. Notes, 144A 5.625 01/15/28   311 323,679
Gtd. Notes, 144A(aa) 5.750 03/01/27   1,350 1,409,003
          16,074,857
Gas 0.9%
AmeriGas Partners LP/AmeriGas Finance Corp.,          
Sr. Unsec’d. Notes 5.500 05/20/25   600 604,699
Sr. Unsec’d. Notes(aa) 5.625 05/20/24   225 233,803
Sr. Unsec’d. Notes(aa) 5.750 05/20/27   3,250 3,379,875
Sr. Unsec’d. Notes 5.875 08/20/26   675 701,093
          4,919,470
Healthcare-Services 6.2%
Centene Corp.,
Sr. Unsec’d. Notes, 144A 		4.250 12/15/27   1,050 1,083,315
CHS/Community Health Systems, Inc.,
Sr. Sec’d. Notes(aa) 		6.250 03/31/23   1,075 1,078,547
Encompass Health Corp.,
Gtd. Notes 		4.750 02/01/30   740 760,003
Hadrian Merger Sub, Inc.,
Sr. Unsec’d. Notes, 144A(aa) 		8.500 05/01/26   452 462,356
HCA, Inc.,          
Gtd. Notes(aa) 5.625 09/01/28   3,700 4,198,649
Sr. Sec’d. Notes(aa) 4.750 05/01/23   4,700 5,112,911
     
 
MEDNAX, Inc.,
Gtd. Notes, 144A(aa) 		6.250 01/15/27   1,030 991,044
10

PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of February 29, 2020 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Healthcare-Services (cont’d.)
     
Molina Healthcare, Inc.,
Sr. Unsec’d. Notes(aa) 		5.375 % 11/15/22   1,610  $ 1,676,824
Polaris Intermediate Corp.,
Sr. Unsec’d. Notes, 144A, Cash coupon 8.500% or PIK 9.250%(aa) 		8.500 12/01/22   3,010 2,558,539
RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc.,
Gtd. Notes, 144A(aa) 		9.750 12/01/26   4,300 4,622,852
Surgery Center Holdings, Inc.,
Gtd. Notes, 144A(aa) 		10.000 04/15/27   1,425 1,574,966
Tenet Healthcare Corp.,          
Sr. Sec’d. Notes, 144A 5.125 11/01/27   375 389,413
Sr. Unsec’d. Notes(aa) 6.750 06/15/23   3,825 4,093,110
Sr. Unsec’d. Notes 6.875 11/15/31   1,250 1,297,479
Sr. Unsec’d. Notes(aa) 7.000 08/01/25   2,300 2,369,062
Sr. Unsec’d. Notes(aa) 8.125 04/01/22   1,050 1,137,906
          33,406,976
Home Builders 7.7%
Ashton Woods USA LLC/Ashton Woods Finance Co.,
Sr. Unsec’d. Notes, 144A(aa) 		9.875 04/01/27   2,608 3,003,843
Beazer Homes USA, Inc.,          
Gtd. Notes(aa) 5.875 10/15/27   1,350 1,367,729
Gtd. Notes, 144A 7.250 10/15/29   2,675 2,837,489
Brookfield Residential Properties, Inc./Brookfield
Residential US Corp. (Canada), 		         
Gtd. Notes, 144A 4.875 02/15/30   925 916,208
Gtd. Notes, 144A 6.125 07/01/22   3,250 3,296,644
     
 
Century Communities, Inc.,
Gtd. Notes 		6.750 06/01/27   1,750 1,924,204
Forestar Group, Inc.,          
Gtd. Notes, 144A(aa) 8.000 04/15/24   1,025 1,111,001
Sr. Unsec’d. Notes, 144A 5.000 03/01/28   650 639,328
KB Home,          
Gtd. Notes 4.800 11/15/29   425 449,065
Gtd. Notes(aa) 6.875 06/15/27   1,800 2,129,514
Lennar Corp.,          
Gtd. Notes(aa) 5.000 06/15/27   1,250 1,393,314
Gtd. Notes 6.250 12/15/21   350 368,148
M/I Homes, Inc.,          
Gtd. Notes(aa) 5.625 08/01/25   1,000 1,046,146
11

PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of February 29, 2020 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Home Builders (cont’d.)
M/I Homes, Inc., (cont’d.)          
Gtd. Notes, 144A 4.950 % 02/01/28   950  $ 967,275
Mattamy Group Corp. (Canada),          
Sr. Unsec’d. Notes, 144A 4.625 03/01/30   900 872,745
Sr. Unsec’d. Notes, 144A 5.250 12/15/27   1,125 1,177,714
Sr. Unsec’d. Notes, 144A 6.500 10/01/25   250 268,221
     
 
Meritage Homes Corp.,
Gtd. Notes(aa) 		5.125 06/06/27   2,748 3,056,324
New Home Co., Inc. (The),
Gtd. Notes(aa) 		7.250 04/01/22   2,275 2,307,891
PulteGroup, Inc.,
Gtd. Notes 		5.000 01/15/27   487 535,461
Taylor Morrison Communities, Inc.,          
Gtd. Notes, 144A 5.750 01/15/28   800 885,179
Gtd. Notes, 144A(aa) 5.875 01/31/25   2,525 2,594,530
Gtd. Notes, 144A 5.875 06/15/27   400 448,434
Gtd. Notes, 144A 6.000 09/01/23   50 51,861
Gtd. Notes, 144A 6.625 07/15/27   2,800 3,032,736
     
 
Taylor Morrison Communities, Inc./Taylor Morrison Holdings II, Inc.,
Gtd. Notes, 144A(aa) 		5.625 03/01/24   1,873 2,022,353
TRI Pointe Group, Inc.,
Gtd. Notes(aa) 		4.875 07/01/21   2,400 2,464,832
William Lyon Homes, Inc.,
Gtd. Notes(aa) 		7.000 08/15/22   308 307,793
          41,475,982
Home Furnishings 0.1%
Tempur Sealy International, Inc.,
Gtd. Notes 		5.625 10/15/23   775 792,496
Household Products/Wares 0.0%
Spectrum Brands, Inc.,
Gtd. Notes, 144A 		5.000 10/01/29   250 258,309
Housewares 0.3%
Scotts Miracle-Gro Co. (The),          
Gtd. Notes 5.250 12/15/26   170 180,418
Gtd. Notes, 144A 4.500 10/15/29   1,125 1,167,533
          1,347,951
12

PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of February 29, 2020 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Internet 1.5%
Zayo Group LLC/Zayo Capital, Inc.,
Gtd. Notes 		6.000 % 04/01/23   7,705  $ 7,868,556
Iron/Steel 0.8%
Cleveland-Cliffs, Inc.,          
Gtd. Notes 5.750 03/01/25   558 509,986
Gtd. Notes, 144A(aa) 5.875 06/01/27   4,405 3,710,463
          4,220,449
Lodging 0.8%
Marriott Ownership Resorts, Inc.,
Gtd. Notes, 144A 		4.750 01/15/28   460 459,101
MGM Resorts International,
Gtd. Notes 		5.500 04/15/27   1,050 1,153,531
Station Casinos LLC,
Gtd. Notes, 144A 		4.500 02/15/28   650 620,085
Wyndham Destinations, Inc.,
Sr. Sec’d. Notes, 144A 		4.625 03/01/30   575 580,547
Wynn Macau Ltd. (Macau),
Sr. Unsec’d. Notes, 144A 		5.125 12/15/29   1,350 1,322,371
          4,135,635
Machinery-Diversified 0.5%
Cloud Crane LLC,
Sec’d. Notes, 144A(aa) 		10.125 08/01/24   2,475 2,524,500
Media 9.0%
CCO Holdings LLC/CCO Holdings Capital Corp.,          
Sr. Unsec’d. Notes, 144A(aa) 4.750 03/01/30   2,300 2,370,723
Sr. Unsec’d. Notes, 144A(aa) 5.125 05/01/23   4,455 4,514,634
Sr. Unsec’d. Notes, 144A(aa) 5.375 06/01/29   2,375 2,531,026
Sr. Unsec’d. Notes, 144A 5.500 05/01/26   500 521,330
Clear Channel Worldwide Holdings, Inc.,          
Gtd. Notes, 144A(aa) 9.250 02/15/24   10,401 11,073,481
Sr. Sec’d. Notes, 144A 5.125 08/15/27   400 401,768
     
 
Cumulus Media New Holdings, Inc.,
Sr. Sec’d. Notes, 144A(aa) 		6.750 07/01/26   1,400 1,455,243
Diamond Sports Group LLC/Diamond Sports Finance
Co., 		         
Gtd. Notes, 144A(aa) 6.625 08/15/27   4,885 3,956,301
13

PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of February 29, 2020 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Media (cont’d.)
Diamond Sports Group LLC/Diamond Sports Finance Co., (cont’d.)          
Sr. Sec’d. Notes, 144A(aa) 5.375 % 08/15/26   3,925   $3,620,900
     
 
DISH DBS Corp.,
Gtd. Notes(aa) 		7.750 07/01/26   3,705 3,984,669
Entercom Media Corp.,          
Gtd. Notes, 144A 7.250 11/01/24   500 526,322
Sec’d. Notes, 144A 6.500 05/01/27   860 904,094
Gray Television, Inc.,          
Gtd. Notes, 144A 5.125 10/15/24   125 128,249
Gtd. Notes, 144A(aa) 7.000 05/15/27   1,950 2,115,218
     
 
iHeartCommunications, Inc.,
Gtd. Notes(aa) 		8.375 05/01/27   1,625 1,765,338
Midcontinent Communications/Midcontinent Finance Corp.,
Gtd. Notes, 144A 		5.375 08/15/27   550 578,972
Radiate Holdco LLC/Radiate Finance, Inc.,          
Sr. Unsec’d. Notes, 144A(aa) 6.625 02/15/25   3,425 3,438,729
Sr. Unsec’d. Notes, 144A(aa) 6.875 02/15/23   1,055 1,061,060
     
 
Scripps Escrow, Inc.,
Gtd. Notes, 144A 		5.875 07/15/27   1,190 1,234,702
Univision Communications, Inc.,          
Sr. Sec’d. Notes, 144A(aa) 5.125 05/15/23   2,000 1,938,411
Sr. Sec’d. Notes, 144A 5.125 02/15/25   800 753,446
          48,874,616
Metal Fabricate/Hardware 0.2%
Zekelman Industries, Inc.,
Sr. Sec’d. Notes, 144A(aa) 		9.875 06/15/23   955 999,646
Mining 3.1%
Constellium SE,
Gtd. Notes, 144A(aa) 		6.625 03/01/25   2,380 2,449,002
Eldorado Gold Corp. (Canada),
Sec’d. Notes, 144A(aa) 		9.500 06/01/24   1,750 1,898,848
First Quantum Minerals Ltd. (Zambia),          
Gtd. Notes, 144A 6.875 03/01/26   300 280,279
Gtd. Notes, 144A 7.250 05/15/22   765 759,606
Gtd. Notes, 144A 7.500 04/01/25   2,105 1,947,901
Freeport-McMoRan, Inc.,          
Gtd. Notes 3.550 03/01/22   643 649,742
Gtd. Notes 3.875 03/15/23   1,100 1,107,317
14

PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of February 29, 2020 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Mining (cont’d.)
     
 
Hecla Mining Co.,
Gtd. Notes 		7.250 % 02/15/28   825  $ 810,705
IAMGOLD Corp. (Canada),
Gtd. Notes, 144A(aa) 		7.000 04/15/25   1,750 1,796,511
New Gold, Inc. (Canada),          
Gtd. Notes, 144A(aa) 6.250 11/15/22   1,600 1,611,602
Gtd. Notes, 144A(aa) 6.375 05/15/25   1,150 1,128,876
Novelis Corp.,          
Gtd. Notes, 144A 4.750 01/30/30   925 908,953
Gtd. Notes, 144A 5.875 09/30/26   1,575 1,628,820
          16,978,162
Miscellaneous Manufacturing 0.3%
Amsted Industries, Inc.,          
Gtd. Notes, 144A 5.625 07/01/27   575 610,056
Sr. Unsec’d. Notes, 144A 4.625 05/15/30   785 789,770
     
 
FXI Holdings, Inc.,
Sr. Sec’d. Notes, 144A 		7.875 11/01/24   225 211,482
          1,611,308
Oil & Gas 8.4%
Alta Mesa Holdings LP/Alta Mesa Finance Services Corp.,
Gtd. Notes 		7.875 12/15/24(d)   5,325 11,408
Antero Resources Corp.,          
Gtd. Notes(aa) 5.000 03/01/25   2,775 1,427,906
Gtd. Notes 5.375 11/01/21   375 312,415
Gtd. Notes(aa) 5.625 06/01/23   3,925 2,130,630
Ascent Resources Utica Holdings LLC/ARU Finance
Corp., 		         
Sr. Unsec’d. Notes, 144A 7.000 11/01/26   450 283,222
Sr. Unsec’d. Notes, 144A(aa) 10.000 04/01/22   4,944 4,217,943
     
 
Chesapeake Energy Corp.,
Sec’d. Notes, 144A 		11.500 01/01/25   2,976 1,721,491
Citgo Holding, Inc.,
Sr. Sec’d. Notes, 144A 		9.250 08/01/24   1,825 1,897,814
CNX Resources Corp.,          
Gtd. Notes(aa) 5.875 04/15/22   3,213 2,943,210
Gtd. Notes, 144A(aa) 7.250 03/14/27   1,350 1,000,376
     
 
15

PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of February 29, 2020 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Oil & Gas (cont’d.)
     
CrownRock LP/CrownRock Finance, Inc.,
Sr. Unsec’d. Notes, 144A 		5.625 % 10/15/25   575  $ 553,220
Denbury Resources, Inc.,
Sec’d. Notes, 144A 		9.000 05/15/21   250 218,753
Diamond Offshore Drilling, Inc.,
Sr. Unsec’d. Notes(aa) 		7.875 08/15/25   1,350 934,835
Endeavor Energy Resources LP/EER Finance, Inc.,          
Sr. Unsec’d. Notes, 144A(aa) 5.500 01/30/26   1,925 1,911,726
Sr. Unsec’d. Notes, 144A 5.750 01/30/28   975 957,274
Extraction Oil & Gas, Inc.,          
Gtd. Notes, 144A(aa) 5.625 02/01/26   2,702 946,644
Gtd. Notes, 144A 7.375 05/15/24   975 349,473
Hilcorp Energy I LP/Hilcorp Finance Co.,          
Sr. Unsec’d. Notes, 144A 5.750 10/01/25   1,075 867,042
Sr. Unsec’d. Notes, 144A(aa) 6.250 11/01/28   1,658 1,207,783
MEG Energy Corp. (Canada),          
Gtd. Notes, 144A(aa) 7.000 03/31/24   195 184,666
Sr. Unsec’d. Notes, 144A(aa) 7.125 02/01/27   1,750 1,650,978
Nabors Industries Ltd.,          
Gtd. Notes, 144A 7.250 01/15/26   225 206,780
Gtd. Notes, 144A 7.500 01/15/28   600 576,920
     
 
Nabors Industries, Inc.,
Gtd. Notes(aa) 		5.750 02/01/25   3,900 2,795,787
Precision Drilling Corp. (Canada),
Gtd. Notes, 144A 		7.125 01/15/26   2,560 2,361,229
Range Resources Corp.,          
Gtd. Notes(aa) 4.875 05/15/25   1,000 632,847
Gtd. Notes(aa) 5.000 03/15/23   2,675 1,938,974
Gtd. Notes 5.875 07/01/22   173 147,867
Gtd. Notes, 144A 9.250 02/01/26   1,100 746,501
     
 
Sunoco LP/Sunoco Finance Corp.,
Gtd. Notes(aa) 		4.875 01/15/23   1,450 1,447,338
Transocean, Inc.,          
Gtd. Notes, 144A 7.250 11/01/25   1,820 1,506,024
Gtd. Notes, 144A 7.500 01/15/26   3,250 2,617,594
Gtd. Notes, 144A 8.000 02/01/27   925 774,684
     
 
Valaris PLC,
Sr. Unsec’d. Notes(aa) 		7.750 02/01/26   3,362 1,324,933
16

PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of February 29, 2020 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Oil & Gas (cont’d.)
WPX Energy, Inc.,          
Sr. Unsec’d. Notes(aa) 5.250 % 09/15/24   1,650  $ 1,657,871
Sr. Unsec’d. Notes(aa) 5.250 10/15/27   1,225 1,207,156
          45,671,314
Oil & Gas Services 0.1%
Nine Energy Service, Inc.,
Gtd. Notes, 144A(aa) 		8.750 11/01/23   675 536,472
Packaging & Containers 0.3%
ARD Finance SA (Luxembourg),
Sr. Sec’d. Notes, 144A, Cash coupon 6.500% or PIK 7.250% 		6.500 06/30/27   1,275 1,287,065
Owens-Brockway Glass Container, Inc.,
Gtd. Notes, 144A 		6.375 08/15/25   500 551,799
          1,838,864
Pharmaceuticals 1.6%
Bausch Health Cos., Inc.,          
Gtd. Notes, 144A(aa) 5.000 01/30/28   1,000 985,551
Gtd. Notes, 144A(aa) 5.250 01/30/30   1,000 988,551
Gtd. Notes, 144A(aa) 6.125 04/15/25   4,600 4,692,315
Gtd. Notes, 144A 7.000 01/15/28   825 883,277
Gtd. Notes, 144A(aa) 7.250 05/30/29   1,110 1,213,216
          8,762,910
Pipelines 2.8%
Antero Midstream Partners LP/Antero Midstream
Finance Corp., 		         
Gtd. Notes(aa) 5.375 09/15/24   530 401,241
Gtd. Notes, 144A(aa) 5.750 01/15/28   2,425 1,667,082
     
 
CNX Midstream Partners LP/CNX Midstream Finance Corp.,
Sr. Unsec’d. Notes, 144A 		6.500 03/15/26   900 737,320
DCP Midstream Operating LP,
Gtd. Notes 		5.125 05/15/29   1,375 1,352,259
Energy Transfer Operating LP,
Jr. Sub. Notes, Series G 		7.125(ff) –(rr)   1,075 1,015,426
Global Partners LP/GLP Finance Corp.,          
Gtd. Notes(aa) 7.000 06/15/23   825 844,986
17

PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of February 29, 2020 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Pipelines (cont’d.)
Global Partners LP/GLP Finance Corp., (cont’d.)          
Gtd. Notes 7.000 % 08/01/27   750  $ 780,539
NGPL PipeCo LLC,          
Sr. Unsec’d. Notes, 144A 4.875 08/15/27   25 27,565
Sr. Unsec’d. Notes, 144A 7.768 12/15/37   1,000 1,372,214
     
 
Rockies Express Pipeline LLC,
Sr. Unsec’d. Notes, 144A 		6.875 04/15/40   2,750 2,832,178
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.,
Gtd. Notes, 144A(aa) 		5.500 01/15/28   2,854 2,541,838
Targa Resources Partners LP/Targa Resources Partners Finance Corp.,
Gtd. Notes(aa) 		5.375 02/01/27   1,400 1,404,570
          14,977,218
Real Estate 1.3%
Five Point Operating Co. LP/Five Point Capital Corp.,
Gtd. Notes, 144A(aa) 		7.875 11/15/25   2,000 2,007,547
Greystar Real Estate Partners LLC,
Sr. Sec’d. Notes, 144A(aa) 		5.750 12/01/25   2,000 2,067,706
Howard Hughes Corp. (The),
Sr. Unsec’d. Notes, 144A 		5.375 03/15/25   775 791,523
Hunt Cos., Inc.,
Sr. Sec’d. Notes, 144A(aa) 		6.250 02/15/26   2,225 2,174,005
          7,040,781
Real Estate Investment Trusts (REITs) 1.3%
GLP Capital LP/GLP Financing II, Inc.,
Gtd. Notes(aa) 		5.375 11/01/23   750 820,669
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer, Inc.,
Gtd. Notes(aa) 		4.500 01/15/28   2,000 2,050,313
MPT Operating Partnership LP/MPT Finance Corp.,
Gtd. Notes(aa) 		5.000 10/15/27   1,575 1,645,572
VICI Properties LP/VICI Note Co., Inc.,          
Gtd. Notes, 144A(aa) 4.250 12/01/26   1,235 1,249,118
Gtd. Notes, 144A(aa) 4.625 12/01/29   1,000 1,034,107
          6,799,779
18

PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of February 29, 2020 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Retail 6.0%
Beacon Roofing Supply, Inc.,
Gtd. Notes, 144A 		4.875 % 11/01/25   550  $ 533,857
Brinker International, Inc.,
Gtd. Notes, 144A(aa) 		5.000 10/01/24   1,250 1,311,223
Carvana Co.,
Gtd. Notes, 144A(aa) 		8.875 10/01/23   3,775 3,922,169
CEC Entertainment, Inc.,
Gtd. Notes(aa) 		8.000 02/15/22   1,150 1,123,025
eG Global Finance PLC (United Kingdom),
Sr. Sec’d. Notes, 144A(aa) 		8.500 10/30/25   1,450 1,509,908
Ferrellgas LP/Ferrellgas Finance Corp.,          
Gtd. Notes 6.750 06/15/23   925 775,448
Sr. Unsec’d. Notes(aa) 6.500 05/01/21   1,850 1,590,907
Sr. Unsec’d. Notes 6.750 01/15/22   82 69,161
Ferrellgas Partners LP/Ferrellgas Partners Finance
Corp., 		         
Sr. Unsec’d. Notes 8.625 06/15/20   975 382,575
Sr. Unsec’d. Notes 8.625 06/15/20   3,275 1,402,162
Golden Nugget, Inc.,          
Gtd. Notes, 144A(aa) 8.750 10/01/25   1,800 1,814,603
Sr. Unsec’d. Notes, 144A(aa) 6.750 10/15/24   2,724 2,679,567
     
 
L Brands, Inc.,
Gtd. Notes(aa) 		5.625 10/15/23   595 640,985
Michaels Stores, Inc.,
Gtd. Notes, 144A(aa) 		8.000 07/15/27   2,525 2,105,964
PetSmart, Inc.,          
Gtd. Notes, 144A 7.125 03/15/23   950 928,672
Sr. Sec’d. Notes, 144A 5.875 06/01/25   1,582 1,592,070
Rite Aid Corp.,          
Gtd. Notes, 144A 6.125 04/01/23   2,183 1,977,335
Sr. Sec’d. Notes, 144A 7.500 07/01/25   917 915,820
Sally Holdings LLC/Sally Capital, Inc.,          
Gtd. Notes 5.500 11/01/23   200 203,406
Gtd. Notes(aa) 5.625 12/01/25   2,025 2,054,351
Suburban Propane Partners LP/Suburban Energy
Finance Corp., 		         
Sr. Unsec’d. Notes(aa) 5.750 03/01/25   1,885 1,905,981
Sr. Unsec’d. Notes 5.875 03/01/27   175 178,946
     
 
19

PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of February 29, 2020 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Retail (cont’d.)
     
Superior Plus LP/Superior General Partner, Inc. (Canada),
Sr. Unsec’d. Notes, 144A 		7.000 % 07/15/26   675  $ 723,587
Yum! Brands, Inc.,
Sr. Unsec’d. Notes(aa) 		3.875 11/01/20   2,250 2,260,496
          32,602,218
Semiconductors 0.2%
NXP BV/NXP Funding LLC (Netherlands),
Gtd. Notes, 144A(aa) 		3.875 09/01/22   1,090 1,142,419
Software 1.9%
Infor US, Inc.,
Gtd. Notes(aa) 		6.500 05/15/22   6,629 6,657,623
RP Crown Parent LLC,
Gtd. Notes, 144A(aa) 		7.375 10/15/24   1,410 1,458,981
TIBCO Software, Inc.,
Sr. Unsec’d. Notes, 144A 		11.375 12/01/21   2,265 2,329,416
          10,446,020
Telecommunications 10.7%
C&W Senior Financing DAC (Ireland),
Sr. Unsec’d. Notes, 144A 		6.875 09/15/27   1,025 1,099,457
CenturyLink, Inc.,          
Sr. Unsec’d. Notes(aa) 5.625 04/01/25   1,830 1,909,998
Sr. Unsec’d. Notes, Series P 7.600 09/15/39   1,200 1,281,565
Sr. Unsec’d. Notes, Series T 5.800 03/15/22   700 733,949
Sr. Unsec’d. Notes, Series U 7.650 03/15/42   1,930 2,075,825
     
 
CommScope Technologies LLC,
Gtd. Notes, 144A 		6.000 06/15/25   125 117,498
CommScope, Inc.,          
Gtd. Notes, 144A(aa) 5.500 06/15/24   4,050 3,850,009
Gtd. Notes, 144A 8.250 03/01/27   400 403,179
     
 
Connect Finco SARL/Connect US Finco LLC (United Kingdom),
Sr. Sec’d. Notes, 144A(aa) 		6.750 10/01/26   1,550 1,577,350
Digicel Group One Ltd. (Jamaica),
Sr. Sec’d. Notes, 144A 		8.250 12/30/22   425 278,605
20

PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of February 29, 2020 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Telecommunications (cont’d.)
     
Digicel International Finance Ltd./Digicel Holdings Bermuda Ltd. (Saint Lucia),
Sr. Sec’d. Notes, 144A 		8.750 % 05/25/24   3,550  $ 3,575,025
Digicel Ltd. (Jamaica),
Gtd. Notes, 144A 		6.750 03/01/23   5,500 3,540,249
Embarq Corp.,
Sr. Unsec’d. Notes 		7.995 06/01/36   4,640 4,943,751
Front Range BidCo, Inc.,
Sr. Unsec’d. Notes, 144A 		6.125 03/01/28   675 665,719
Intelsat Jackson Holdings SA (Luxembourg),          
Gtd. Notes 5.500 08/01/23   2,085 1,795,169
Gtd. Notes, 144A(aa) 9.750 07/15/25   4,135 3,659,475
     
 
Intelsat Luxembourg SA (Luxembourg),
Gtd. Notes 		8.125 06/01/23   1,035 429,374
Intrado Corp.,
Gtd. Notes, 144A(aa) 		8.500 10/15/25   5,295 3,570,183
ORBCOMM, Inc.,
Sr. Sec’d. Notes, 144A(aa) 		8.000 04/01/24   3,670 3,668,258
Sprint Capital Corp.,          
Gtd. Notes 6.875 11/15/28   365 433,296
Gtd. Notes 8.750 03/15/32   3,161 4,393,328
     
 
Sprint Communications, Inc.,
Gtd. Notes, 144A 		7.000 03/01/20   1,500 1,500,000
Sprint Corp.,          
Gtd. Notes(aa) 7.625 02/15/25   1,925 2,232,134
Gtd. Notes(aa) 7.875 09/15/23   1,500 1,717,640
T-Mobile USA, Inc.,          
Gtd. Notes(aa) 6.375 03/01/25   1,200 1,235,579
Gtd. Notes 6.500 01/15/26   4,055 4,275,067
     
 
Xplornet Communications, Inc. (Canada),
Gtd. Notes, 144A, Cash coupon 9.625% or PIK 10.625% 		9.625 06/01/22   2,579 2,640,882
Ypso Finance Bis SA (Luxembourg),
Gtd. Notes, 144A 		6.000 02/15/28   125 119,837
          57,722,401
Toys/Games/Hobbies 0.0%
Mattel, Inc.,
Gtd. Notes, 144A 		5.875 12/15/27   175 183,088
21

PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of February 29, 2020 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Corporate Bonds (Continued)
Transportation 0.8%
XPO Logistics, Inc.,          
Gtd. Notes, 144A 6.125 % 09/01/23   200  $ 204,848
Gtd. Notes, 144A(aa) 6.500 06/15/22   1,405 1,409,012
Gtd. Notes, 144A(aa) 6.750 08/15/24   2,800 2,958,066
          4,571,926
Total Corporate Bonds
(cost $607,580,013) 		597,467,515
    
      Shares  
Common Stocks 0.5%
Electric Utilities 0.5%
GenOn Energy Holdings, Inc. (Class A Stock)^*       9,187 1,883,335
Keycon Power Holdings LLC*       2,600 806,000
          2,689,335
Oil, Gas & Consumable Fuels 0.0%
Frontera Energy Corp. (Colombia)       2,066 11,350
     
 
Total Common Stocks
(cost $1,387,211) 		2,700,685
 
Total Long-Term Investments
(cost $679,961,796) 		670,083,463
    
         
Short-Term Investment 10.9%
Affiliated Mutual Fund           
PGIM Core Ultra Short Bond Fund
(cost $59,181,816)(w) 		    59,181,816 59,181,816
 
TOTAL INVESTMENTS 134.7%
(cost $739,143,612) 		729,265,279
Liabilities in excess of other assets(z) (34.7)% (187,990,625)
 
Net Assets 100.0% $ 541,274,654
22

PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of February 29, 2020 (unaudited) (continued)
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings:
    
  144A—Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, pursuant to the requirements of Rule 144A, may not be resold except to qualified institutional buyers.
  LIBOR—London Interbank Offered Rate
  MTN—Medium Term Note
  PIK—Payment-in-Kind
  REITs—Real Estate Investment Trust
  Q—Quarterly payment frequency for swaps
    
* 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 $23,232,786 and 4.3% of net assets.
(aa) Represents security, or a portion thereof, with aggregate value of $371,936,033 segregated as collateral for amount of $180,000,000 borrowed and outstanding as of February 29, 2020.
(c) Variable rate instrument. The interest rate shown reflects the rate in effect at February 29, 2020.
(d) Represents issuer in default on interest payments and/or principal repayment. Non-income producing security. Such securities may be post-maturity.
(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.
(p) Interest rate not available as of February 29, 2020.
(rr) Perpetual security with no stated maturity date.
(w) PGIM Investments LLC, the manager of the Fund, also serves as manager of the PGIM Core Ultra Short Bond Fund.
(z) Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments:
Credit default swap agreement outstanding at February 29, 2020:
Reference
Entity/
Obligation 		  Termination
Date 		  Fixed
Rate 		  Notional
Amount
(000)#(3) 		  Value at
Trade Date 		  Value at
February 29,
2020 		  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):
CDX.NA.HY.33.V2   12/20/24   5.000%(Q)     34,175   $(2,934,045)   $(2,084,131)   $849,914
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
23

PGIM High Yield Bond Fund, Inc.
Schedule of Investments as of February 29, 2020 (unaudited) (continued)
  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.
(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.
Other information regarding the Fund is available in the Fund’s most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).
24