Wynn Macau, Limited bonds 1128.HK
Who owns Wynn Macau, Limited's debt and what their own filings say it is worth. Bond prices and yields are fund-reported marks (SEC Form N-PORT) as of Jul 2026; they lag the market by about two months. 1128.HK stock page.
Every bond funds hold
Each bond's latest fund-reported mark. Price per 100 of face value; yield to maturity from price, coupon and maturity; spread over the matched-maturity Treasury for US-dollar bonds.
| Bond | Coupon | Maturity | Ccy | Price | Yield | Spread | Funds | Held | As of |
|---|---|---|---|---|---|---|---|---|---|
| 98313RAD8 | 5.5% fixed | 2027-10-01 | USD | 99.59 | 5.86% | 178 bp | 19 | $59.8M | Jul 2026 |
| AP0944896 | 5.5% fixed | 2027-10-01 | USD | 99.55 | 5.90% | 182 bp | 1 | $466K | Jul 2026 |
| G98149AD2 | 5.5% fixed | 2027-10-01 | USD | 99.50 | 5.94% | 186 bp | 2 | $597K | Jul 2026 |
| 98313RAH9 | 5.625% fixed | 2028-08-26 | USD | 98.96 | 6.16% | 194 bp | 42 | $134.1M | Jul 2026 |
| G98149AH3 | 5.625% fixed | 2028-08-26 | USD | 98.81 | 6.25% | 202 bp | 10 | $13.6M | Jul 2026 |
| 98313RAJ5 convertible | 4.5% fixed | 2029-03-07 | USD | 99.41 | — | — | 9 | $24.0M | Jul 2026 |
| G98149AE0 | 5.125% fixed | 2029-12-15 | USD | 96.50 | 6.29% | 202 bp | 2 | $2.3M | Jul 2026 |
| 98313RAE6 | 5.125% fixed | 2029-12-15 | USD | 96.83 | 6.18% | 191 bp | 23 | $53.0M | Jul 2026 |
| ZQ9658860 | 5.125% fixed | 2029-12-15 | USD | 97.01 | 6.12% | 184 bp | 1 | $415K | Jul 2026 |
| YL1888608 | 6.75% fixed | 2034-02-15 | USD | 98.06 | 7.08% | 260 bp | 4 | $3.5M | Jul 2026 |
| 98313RAL0 | 6.75% fixed | 2034-02-15 | USD | 98.23 | 7.06% | 257 bp | 36 | $96.1M | Jul 2026 |
Spread history
Median spread of the US-dollar bonds over Treasuries, month-ends with complete filings. Fund-reported.
Price history
Median fund-marked price across the bonds, per 100 of face value.
By month
Funds file on staggered quarter-ends, so each month-end is marked by the funds that reported for it; the amount held moves with which funds filed, not only with buying and selling.
| Month-end | Bonds | Held | Median price | USD yield | USD spread | Most funds on one bond |
|---|---|---|---|---|---|---|
| Jul 2026 | 11 | $387.9M | 98.81 | 6.17% | 192 bp | 42 |
| Jun 2026 | 9 | $402.8M | 99.42 | 5.93% | 187 bp | 47 |
| May 2026 | 9 | $190.3M | 99.71 | 5.78% | 180 bp | 13 |
| Apr 2026 | 11 | $395.6M | 99.61 | 5.88% | 205 bp | 42 |
| Mar 2026 | 9 | $399.8M | 98.28 | 6.43% | 268 bp | 46 |
| Feb 2026 | 9 | $187.7M | 99.87 | 5.65% | 217 bp | 14 |
| Jan 2026 | 11 | $402.9M | 99.84 | 5.57% | 204 bp | 42 |
| Dec 2025 | 9 | $430.0M | 99.86 | 5.65% | 212 bp | 49 |
| Nov 2025 | 7 | $194.1M | 99.27 | 5.89% | 230 bp | 17 |
| Oct 2025 | 11 | $395.5M | 99.90 | 5.59% | 203 bp | 39 |
| Sep 2025 | 9 | $468.1M | 99.96 | 5.68% | 210 bp | 52 |
| Aug 2025 | 9 | $186.8M | 99.36 | 5.97% | 222 bp | 17 |
| Jul 2025 | 12 | $402.5M | 99.65 | 6.01% | 217 bp | 40 |
Who holds the debt
Fund series in their latest quarterly N-PORT report, largest first, with the change in face value against each fund's own previous report. Names as reported in the filings. 30 added, 26 cut, 10 new holders and 9 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| VANGUARD HIGH-YIELD CORPORATE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $131.5M | $129.5M | $0 |
| BlackRock High Yield Portfolio BlackRock Funds V | 2026-06-30 | $80.9M | $79.9M | $0 |
| PGIM High Yield Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $56.1M | $55.9M | $0 |
| iShares iBoxx $ High Yield Corporate Bond ETF iShares Trust | 2026-05-31 | $54.6M | $54.3M | -$2.8M |
| Franklin Income Fund Franklin Custodian Funds | 2026-06-30 | $51.5M | $51.3M | $0 |
| LORD ABBETT BOND DEBENTURE FUND INC | 2026-06-30 | $45.5M | $45.3M | $0 |
| BlackRock Strategic Income Opportunities Portfolio BlackRock Funds V | 2026-06-30 | $43.3M | $43.1M | $486K |
| PGIM Short Duration High Yield Income Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $31.2M | $31.1M | $0 |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $26.4M | $26.0M | -$1.1M |
| High Yield Fund Principal Funds, Inc | 2026-07-31 | $19.7M | $19.5M | -$12.8M |
| State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $17.8M | $17.7M | -$972K |
| MFS Emerging Markets Debt Fund MFS SERIES TRUST X | 2026-07-31 | $16.1M | $15.9M | $0 |
| MFS Income Fund MFS Series Trust VIII | 2026-07-31 | $14.4M | $14.1M | $0 |
| American Funds Emerging Markets Bond Fund | 2026-06-30 | $12.9M | $12.8M | $6.3M |
| JNL/PPM America High Yield Bond Fund JNL Series Trust | 2026-06-30 | $12.3M | $12.1M | $2.1M |
| iShares Flexible Income Active ETF BlackRock ETF Trust II | 2026-07-31 | $11.1M | $10.9M | -$1.4M |
| Lord Abbett Short Duration High Yield Fund LORD ABBETT TRUST I | 2026-07-31 | $10.1M | $10.0M | new |
| MFS High Income Fund MFS Series Trust III | 2026-07-31 | $10.1M | $9.9M | $0 |
| State Street(R) SPDR(R) Bloomberg High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $10.0M | $9.9M | $4.5M |
| THE HARTFORD STRATEGIC INCOME FUND HARTFORD MUTUAL FUNDS, INC | 2026-07-31 | $10.0M | $9.9M | -$5.0M |
| BlackRock Corporate High Yield Fund, Inc. | 2026-06-30 | $8.8M | $8.7M | $0 |
| MFS Corporate Bond Fund MFS Series Trust IX | 2026-07-31 | $8.6M | $8.6M | $0 |
| AB HIGH INCOME FUND INC | 2026-07-31 | $7.8M | $7.6M | $0 |
| Lord Abbett Core Plus Bond Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $7.1M | $7.1M | $0 |
| Calamos Market Neutral Income Fund CALAMOS INVESTMENT TRUST/IL | 2026-07-31 | $7.0M | $7.0M | $0 |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Hartford Dynamic Bond Fund ($1.9M), MFS MULTIMARKET INCOME TRUST ($1.7M), Invesco Multi-Asset Income Fund ($520K), AB Short Duration High Yield ETF ($345K), THRIVENT MODERATE ALLOCATION PORTFOLIO ($336K), PIMCO Emerging Markets Corporate Bond Fund ($250K), Hartford Schroders Emerging Markets Multi-Sector Bond Fund ($200K), BlackRock Total Return V.I. Fund ($200K), Jackson Credit Opportunities Fund ($200K).
ETFs holding these bonds
From each ETF's own latest N-PORT report: the issuer's bonds as a share of the ETF's net assets. A holdings list, not a recommendation.
| ETF | Report | Bonds | Face value | Value | % of net assets |
|---|---|---|---|---|---|
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2026-05-31 | 4 | $54.6M | $54.3M | 0.34% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 3 | $26.4M | $26.0M | 0.34% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 3 | $17.8M | $17.7M | 0.36% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 1 | $10.0M | $9.9M | 0.14% |
| HYEM VanEck Emerging Markets High Yield Bond ETF | 2026-07-31 | 4 | $7.1M | $7.0M | 1.34% |
| IBHG iShares iBonds 2027 Term High Yield and Income ETF | 2026-07-31 | 1 | $6.5M | $6.5M | 1.29% |
| EMHY iShares J.P. Morgan EM High Yield Bond ETF | 2026-07-31 | 4 | $5.6M | $5.5M | 0.88% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 4 | $4.8M | $4.7M | 0.01% |
| IBHH iShares iBonds 2028 Term High Yield and Income ETF | 2026-07-31 | 1 | $4.5M | $4.5M | 0.98% |
| YLD Principal Active High Yield ETF | 2026-06-30 | 1 | $3.6M | $3.6M | 0.63% |
| CEMB iShares J.P. Morgan EM Corporate Bond ETF | 2026-07-31 | 4 | $2.8M | $2.7M | 0.68% |
| XBB BondBloxx BB Rated USD High Yield Corporate Bond ETF | 2026-07-31 | 4 | $2.6M | $2.5M | 0.49% |
| VGHY VANGUARD HIGH-YIELD ACTIVE ETF | 2026-07-31 | 3 | $2.2M | $2.2M | 0.72% |
| HFSI Hartford Strategic Income ETF | 2026-07-31 | 1 | $2.2M | $2.2M | 0.20% |
| PGHY Invesco Global ex-US High Yield Corporate Bond ETF | 2026-07-31 | 4 | $2.1M | $2.1M | 0.93% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 3.19: safer than 27% of companies (26th percentile in Consumer Cyclical). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $3.53B |
| Debt barrier (short-term + ½ long-term debt) | $3.14B |
| Equity volatility (1 year) | 43.4% |
| Asset value / asset volatility (solved) | $6.55B / 23.5% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 192 bp spread prices in about 3.2% a year of default odds (spread ÷ (1 − 40% recovery)). Fund-reported marks as of Jul 2026; the spread also pays for liquidity and risk premium, so this overstates actual defaults.
Accounts: Altman Z
Altman Z'' = 0.01 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in 1128.HK's stock and options. Options are reported at the value of the underlying shares, not the premium paid; 13F lists long positions only, lags 45 days after quarter-end, and does not show whether puts hedge a stock position.
| Quarter-end | Stock holders | Stock value | Put managers | Puts (underlying value) | Call managers | Calls (underlying value) | Convertible holders |
|---|---|---|---|---|---|---|---|
| 2026-06-30 | 1 | $4K | 0 | — | 0 | — | 0 |
| 2026-03-31 | 2 | $4K | 0 | — | 0 | — | 0 |
| 2025-12-31 | 2 | $4K | 0 | — | 0 | — | 1 |
| 2025-09-30 | 2 | $5K | 0 | — | 0 | — | 1 |
| 2025-06-30 | 1 | $3K | 0 | — | 0 | — | 1 |
| 2025-03-31 | 1 | $227K | 0 | — | 0 | — | 0 |
Sources: fund holdings and fund-reported marks from SEC Form N-PORT (published about 60 days after each month-end); 13F filings; House and Senate periodic transaction reports and OGE Form 278-T; Treasury yields from FRED. Findings from filings, not advice. How each number is computed.