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High Yield Corporate Bond Market Summary:
Week Ending 4/1/21

Our newsletter presents key trends derived from observable High Yield Corporate Bond pricing data over a weekly period.

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Top 10 Winners
Top 10 Losers
Avg Industry Price
Market Sentiment
Top Movers
Most Quoted HY
Bid Offer Spread
Bid Offer Volume

Top 10 Winners

Showcases the top 10 HY Corp “winners” based on the largest bid price increases between 3/26/21 – 4/1/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 YUZHOU 8.5 2/4/2023 8.50% 02/04/23 8.83% 97.08 89.20
2 EAGRUY 7.5 5/1/2025 REGS 7.50% 05/01/25 7.78% 92.76 86.07
3 HTZ 5.5 3/30/2023 REGS 5.50% 03/30/23 5.82% 96.46 91.16
4 HPR 8.75 6/15/2025 8.75% 06/15/25 5.73% 58.93 55.74
5 RIG 3.8 10/15/2022 3.80% 10/15/22 5.69% 89.50 84.68
6 ARWBID 9.5 3/15/2024 144A 9.50% 03/15/24 5.44% 98.64 93.55
7 MNK 5.625 10/15/2023 5.63% 10/15/23 5.09% 69.76 66.38
8 AMC 5.75 6/15/2025 5.75% 06/15/25 4.99% 66.61 63.44
9 NVFVES 5 6/15/2025 REGS 5.00% 06/15/25 4.37% 93.48 89.57
10 BUENOS 9.625 4/18/2028 REGS 9.63% 04/18/28 4.32% 40.64 38.96

Top 10 Losers

Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 3/26/21 – 4/1/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 BTU 8.5 12/31/2024 144A 8.50% 12/31/24 -21.70% 42.00 53.64
2 BUEAIR 0 3/29/2024 37.44% 03/29/24 -10.14% 89.48 99.58
3 ARGTES 18.2 10/3/2021 18.20% 10/03/21 -9.68% 89.57 99.17
4 ARGBAD 0 4/3/2022 36.19% 04/03/22 -8.72% 95.20 104.30
5 CHFOTN 8.75 9/28/2022 8.75% 09/28/22 -7.77% 36.46 39.53
6 YUZHOU 7.375 1/13/2026 7.38% 01/13/26 -7.54% 87.45 94.58
7 DSPORT 6.625 8/15/2027 144A 6.63% 08/15/27 -6.77% 51.98 55.76
8 ARGBON 0.125 7/9/2030 0.13% 07/09/30 -6.29% 32.03 34.18
9 ADAABB 4.45 12/15/2022 144A 4.45% 12/15/22 -5.26% 93.21 98.39
10 CAPG 5.88 3/1/2027 5.88% 03/01/27 -4.75% 91.26 95.81

Avg Industry Price

Displays the HY Corp average industry price by sector between 3/26/21 – 4/1/21

Results are based on 5 select industry sectors, however, we offer data across 36 sectors

Sentiment

Reveals the percent of HY Corps increasing in price (advancers) vs. HY Corps decreasing in price (decliners) between 3/26/21 – 4/1/21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the HY Corps with the largest increase in quote volume for the week ending 3/26/21 vs. the week ending 4/1/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 RUYIGR 6.95 7/5/2022 6.95% 07/05/22 21 107 86 410%
2 BAP 2.75 6/17/2025 144A 2.75% 06/17/25 23 102 79 343%
3 OECENG 6 10/5/2027 REGS 6.00% 10/05/27 18 90 72 400%
4 NASNO 7.25 11/11/2022 7.25% 11/11/22 13 67 54 415%
5 TEINEN 6.875 9/30/2022 6.88% 09/30/22 110 158 48 44%
6 ICBCAS 4.25 PERP 4.25% 12/29/49 95 137 42 44%
7 NYCB 5.9 11/6/2028 5.90% 11/06/28 43 85 42 98%
8 PKICN 6 4/1/2026 144A 6.00% 04/01/26 175 216 41 23%
9 ABCB 4.25 12/15/2029 4.25% 12/15/29 9 50 41 456%
10 PWRLNG 5.95 4/30/2025 5.95% 04/30/25 134 170 36 27%

Most Quoted HY Corps

Ranks the HY Corps that were quoted by the highest number of dealers between 3/26/21 – 4/1/21

RANK TRANCHE COUPON MATURITY DEALERS
1 CAR 6.375 4/1/2024 6.38% 04/01/24 36
2 MUR 4 6/1/2022 4.00% 06/01/22 35
3 GT 5.125 11/15/2023 5.13% 11/15/23 34
4 MUR 3.7 12/1/2022 3.70% 12/01/22 34
5 TROX 6.5 4/15/2026 144A 6.50% 04/15/26 33
6 CBS 7.25 11/1/2024 7.25% 11/01/24 33
7 AA 6.75 9/30/2024 6.75% 09/30/24 32
8 ARGID 6 2/15/2025 6.00% 02/15/25 32
9 TROX 5.75 10/1/2025 144A 5.75% 10/01/25 32
10 PETBRA 5.999 1/27/2028 6.00% 01/27/28 32

Bid-Offer Spread by Industry

Displays the HY Corp average bid-offer spread by industry between 3/26/21 – 4/1/21

Results are based on 5 select industry sectors, however, we offer data across 36 sectors

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 3/26/21 – 4/1/21

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