Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 8/20/21
Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.
Top 10 Winners
Showcases the top 10 HY Corp “winners” based on the largest bid price increases between 8/13/21 – 8/20/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | HRRLET 1.625 12/5/2022 | 1.63% | 12/05/22 | 31.78% | 78.90 | 59.87 |
| 2 | HRINTH 3.8 11/7/2025 | 3.80% | 11/07/25 | 29.49% | 89.77 | 69.32 |
| 3 | ZAMBIN 8.97 7/30/2027 | 8.97% | 07/30/27 | 13.81% | 74.93 | 65.84 |
| 4 | PBRXIJ 7.625 1/26/2022 | 7.63% | 01/26/22 | 12.61% | 39.99 | 35.52 |
| 5 | NOGLN 8 7/25/2022 REGS | 8.00% | 07/25/22 | 7.17% | 26.98 | 25.17 |
| 6 | CBL 5.25 12/1/2023 | 5.25% | 12/01/23 | 6.54% | 60.07 | 56.38 |
| 7 | ELSALV 7.625 2/1/2041 | 7.63% | 02/01/41 | 6.48% | 83.61 | 78.52 |
| 8 | EVHC 8.75 10/15/2026 144A | 8.75% | 10/15/26 | 6.37% | 82.47 | 77.54 |
| 9 | CBL 4.6 10/15/2024 | 4.60% | 10/15/24 | 6.36% | 60.28 | 56.68 |
| 10 | FUEGO 8.95 4/17/2027 | 8.95% | 04/17/27 | 5.71% | 80.72 | 76.37 |
Top 10 Losers
Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 8/13/21 – 8/20/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | TLN 10.5 1/15/2026 144A | 10.50% | 01/15/26 | -26.42% | 41.43 | 56.30 |
| 2 | TIANHL 11.5 10/24/2022 | 11.50% | 10/24/22 | -18.76% | 34.68 | 42.68 |
| 3 | HBCY 10 PERP | 10.00% | 10/29/49 | -12.22% | 49.55 | 56.45 |
| 4 | KAISAG 11.95 10/22/2022 144A | 11.95% | 10/22/22 | -11.31% | 96.29 | 108.57 |
| 5 | CENCHI 7.75 5/24/2024 | 7.75% | 05/24/24 | -11.12% | 72.31 | 81.35 |
| 6 | EVERRE 9.5 4/11/2022 | 9.50% | 04/11/22 | -10.82% | 47.77 | 53.57 |
| 7 | SCN 10.75 8/31/2029 | 10.75% | 08/31/29 | -9.84% | 38.86 | 43.09 |
| 8 | QGOGCO 10 11/9/2024 144A | 10.00% | 11/09/24 | -8.75% | 27.92 | 30.60 |
| 9 | CSCHCN 10.75 4/11/2023 | 10.75% | 04/11/23 | -8.44% | 71.80 | 78.42 |
| 10 | CAPG 5.98 8/18/2025 | 5.98% | 08/18/25 | -6.86% | 80.36 | 86.27 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 8/13/21 – 8/20/21
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 8/13/21 – 8/20/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 8/13/21 vs. the week ending 8/20/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | ELDCN 9.5 6/1/2024 144A | 9.50% | 06/01/24 | 175 | 231 | 56 | 32% |
| 2 | TELSAT 4.875 6/1/2027 144A | 4.88% | 06/01/27 | 239 | 289 | 50 | 21% |
| 3 | AXL 6.25 4/1/2025 | 6.25% | 04/01/25 | 273 | 321 | 48 | 18% |
| 4 | TELSAT 5.625 12/6/2026 144A | 5.63% | 12/06/26 | 214 | 261 | 47 | 22% |
| 5 | WW 4.5 4/15/2029 144A | 4.50% | 04/15/29 | 234 | 280 | 46 | 20% |
| 6 | TALO 12 1/15/2026 | 12.00% | 01/15/26 | 29 | 70 | 41 | 141% |
| 7 | UNM 7.405 3/15/2038 | 7.41% | 03/15/38 | 112 | 152 | 40 | 36% |
| 8 | KEADGR 7.875 7/31/2023 | 7.88% | 07/31/23 | 94 | 134 | 40 | 43% |
| 9 | TEP 5.5 9/15/2024 | 5.50% | 09/15/24 | 273 | 313 | 40 | 15% |
| 10 | TELSAT 6.5 10/15/2027 144A | 6.50% | 10/15/27 | 235 | 275 | 40 | 17% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 8/13/21 – 8/20/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | CHTR 5.75 2/15/2026 | 5.75% | 02/15/26 | 43 |
| 2 | SIRI 5.375 7/15/2026 | 5.38% | 07/15/26 | 40 |
| 3 | NRG 7.25 5/15/2026 | 7.25% | 05/15/26 | 39 |
| 4 | CAR 5.25 3/15/2025 | 5.25% | 03/15/25 | 39 |
| 5 | AXL 6.25 4/1/2025 | 6.25% | 04/01/25 | 39 |
| 6 | URI 5.875 9/15/2026 | 5.88% | 09/15/26 | 38 |
| 7 | TEP 5.5 9/15/2024 | 5.50% | 09/15/24 | 38 |
| 8 | ADT 3.5 7/15/2022 | 3.50% | 07/15/22 | 38 |
| 9 | TSLA 5.3 8/15/2025 144A | 5.30% | 08/15/25 | 37 |
| 10 | SIRI 4.625 7/15/2024 144A | 4.63% | 07/15/24 | 37 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 8/13/21 – 8/20/21
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 8/13/21 – 8/20/21
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