Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 5/27/22
Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.
Forward Calendar
The following are lists of upcoming high-yield corporate bond offerings in the United States
| ISSUER | DEAL INFORMATION | BANKS | EXPECTED ISSUE DATE |
| Tenneco | $3 billion high-yield notes | N/A | 2nd Quarter 2022 |
| Viasat Inc. | $1.6 billion senior notes | BofA | 2nd Quarter 2022 |
Top 10 Winners
Showcases the top 10 HY Corp “winners” based on the largest bid price increases between 5/20/22 – 5/27/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | ELSALV 7.1246 1/20/2050 REGS | 7.12% | 01/20/50 | 16.40% | 38.01 | 32.65 |
| 2 | BALY 5.875 9/1/2031 144A | 5.88% | 09/01/31 | 14.23% | 78.40 | 68.63 |
| 3 | VODUKR 6.2 2/11/2025 REGS | 6.20% | 02/11/25 | 13.79% | 65.80 | 57.83 |
| 4 | PKSTAN 7.875 3/31/2036 | 7.88% | 03/31/36 | 12.73% | 63.44 | 56.28 |
| 5 | KENINT 8.25 2/28/2048 REGS | 8.25% | 02/28/48 | 11.12% | 78.70 | 70.82 |
| 6 | AMC 10 6/15/2026 144A | 10.00% | 06/15/26 | 10.95% | 75.19 | 67.77 |
| 7 | WYNMAC 5.5 10/1/2027 144A | 5.50% | 10/01/27 | 10.69% | 75.77 | 68.45 |
| 8 | BHCCN 5 2/15/2029 144A | 5.00% | 02/15/29 | 10.61% | 58.97 | 53.31 |
| 9 | NGERIA 7.696 2/23/2038 REGS | 7.70% | 02/23/38 | 10.57% | 75.75 | 68.51 |
| 10 | TRUK 6.25 2/1/2029 144A | 6.25% | 02/01/29 | 10.32% | 78.84 | 71.46 |
Top 10 Losers
Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 5/20/22 – 5/27/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | GRNLGR 5.75 9/26/2022 | 5.75% | 09/26/22 | -58.70% | 34.06 | 82.48 |
| 2 | PWRLNG 7.125 11/8/2022 | 7.13% | 11/08/22 | -38.15% | 33.21 | 53.69 |
| 3 | UNIFIN 7.375 2/12/2026 REGS | 7.38% | 02/12/26 | -14.45% | 45.81 | 53.55 |
| 4 | JIAZHO 12 6/8/2022 | 12.00% | 06/08/22 | -11.62% | 39.26 | 44.42 |
| 5 | BBBY 3.749 8/1/2024 | 3.75% | 08/01/24 | -10.12% | 71.79 | 79.87 |
| 6 | CBSR 6.75 3/31/2029 144A | 6.75% | 03/31/29 | -9.69% | 62.08 | 68.74 |
| 7 | LOGPH 7.5 8/25/2022 | 7.50% | 08/25/22 | -9.59% | 26.86 | 29.71 |
| 8 | TPHL 6.75 7/16/2023 | 6.75% | 07/16/23 | -9.34% | 43.83 | 48.34 |
| 9 | EVHC 8.75 10/15/2026 144A | 8.75% | 10/15/26 | -8.22% | 30.59 | 33.33 |
| 10 | ATENTO 8 2/10/2026 REGS | 8.00% | 02/10/26 | -8.18% | 79.80 | 86.91 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 5/20/22 – 5/27/22
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 5/20/22 – 5/27/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 5/20/22 vs. the week ending 5/27/22
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | NGL 7.5 2/1/2026 144A | 7.50% | 02/01/26 | 98 | 247 | 149 | 152% |
| 2 | RCL 5.375 7/15/2027 REGS | 5.38% | 07/15/27 | 2 | 119 | 117 | 5850% |
| 3 | D 4.625 5/15/2052 | 4.63% | 05/15/52 | 168 | 253 | 85 | 51% |
| 4 | OBEBLD 9.5 4/15/2030 144A | 9.50% | 04/15/30 | 42 | 119 | 77 | 183% |
| 5 | ARGENT 0.125 7/9/2035 | 1.13% | 07/09/35 | 130 | 196 | 66 | 51% |
| 6 | PBRXIJ 7.625 12/31/2025 | 7.63% | 12/31/25 | 8 | 67 | 59 | 738% |
| 7 | ENQLN 7 10/15/2023 | 7.00% | 10/15/23 | 74 | 130 | 56 | 76% |
| 8 | SOUTAU 4.35 4/14/2032 REGS | 4.35% | 04/14/32 | 35 | 78 | 43 | 123% |
| 9 | QVCN 4.85 4/1/2024 | 4.85% | 04/01/24 | 256 | 296 | 40 | 16% |
| 10 | JIAYUA 12.5 7/21/2023 | 12.50% | 07/21/23 | 110 | 150 | 40 | 36% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 5/20/22 – 5/27/22
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | FMCN 7.25 4/1/2023 | 7.25% | 04/01/23 | 41 |
| 2 | BYD 8.625 6/1/2025 144A | 8.63% | 06/01/25 | 39 |
| 3 | SBH 8.75 4/30/2025 144A | 8.75% | 04/30/25 | 37 |
| 4 | CHTR 4.25 2/1/2031 144A | 4.25% | 02/01/31 | 37 |
| 5 | OMF 8.875 6/1/2025 | 8.88% | 06/01/25 | 37 |
| 6 | SM 10 1/15/2025 144A | 10.00% | 01/15/25 | 36 |
| 7 | SVC 5 8/15/2022 | 5.00% | 08/15/22 | 36 |
| 8 | COMM 6 3/1/2026 144A | 6.00% | 03/01/26 | 36 |
| 9 | CVNA 10.25 5/1/2030 144A | 10.25% | 05/01/30 | 36 |
| 10 | DTV 5.875 8/15/2027 144A | 5.88% | 08/15/27 | 35 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 5/20/22 – 5/27/22
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 5/20/22 – 5/27/22
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