High Yield Corporate Bond Market Summary – Week Ending 11/18/22
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High Yield Corporate Bond Market Summary: Week Ending 11/18/22
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 | ISSUE INFORMATION | BROKER DEALER | EXPECTED ISSUE DATE |
|---|---|---|---|
| Tenneco Inc. | $3 billion high-yield notes – $2 billion secured notes and $1 billion unsecured notes | N/A | Week of November 7 |
| Viasat Inc. | $1.6 billion senior notes | N/A | 4th Quarter 2022 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 11/10/22 – 11/18/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | AGILE 6.05 10/13/2025 | 6.05% | 10/13/25 | 111.07% | 39.57 | 18.75 |
| 2 | FTLNHD 4.625 10/15/2025 | 4.63% | 10/15/25 | 109.16% | 44.93 | 21.48 |
| 3 | FUTLAN 6 8/12/2024 | 6.00% | 08/12/24 | 90.63% | 48.86 | 25.63 |
| 4 | CHINSC 7.25 4/19/2023 | 7.25% | 04/19/23 | 69.89% | 25.81 | 15.19 |
| 5 | DALWAN 7.25 1/29/2024 | 7.25% | 01/29/24 | 57.62% | 70.21 | 44.54 |
| 6 | BBBY 3.749 8/1/2024 | 3.75% | 08/01/24 | 54.51% | 34.84 | 22.55 |
| 7 | BELRUS 5.875 2/24/2026 REGS | 5.88% | 02/24/26 | 50.71% | 34.69 | 23.02 |
| 8 | ROADKG 5.125 7/26/2026 | 5.13% | 07/26/26 | 48.13% | 35.81 | 24.18 |
| 9 | AHEREN 7.375 5/15/2023 | 7.38% | 05/15/23 | 40.99% | 98.96 | 70.19 |
| 10 | YLLGSP 6.8 2/27/2024 | 6.80% | 02/27/24 | 30.84% | 80.03 | 61.16 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 11/10/22 – 11/18/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | EBS 3.875 8/15/2028 144A | 3.88% | 08/15/28 | -22.96% | 47.97 | 62.27 |
| 2 | NEWLSQ 15.5 11/1/2023 144A | 15.50% | 11/01/23 | -14.80% | 30.12 | 35.36 |
| 3 | RAKUTN 5.125 PERP REGS | 5.13% | 04/22/49 | -13.45% | 63.60 | 73.48 |
| 4 | SIGRP 6.75 5/15/2026 144A | 6.75% | 05/15/26 | -12.33% | 40.70 | 46.43 |
| 5 | LINTA 8.25 2/1/2030 | 8.25% | 02/01/30 | -10.87% | 48.28 | 54.17 |
| 6 | PRTY 8.75 2/15/2026 144A | 8.75% | 02/15/26 | -9.77% | 38.00 | 42.12 |
| 7 | VERITS 7.5 9/1/2025 144A | 7.50% | 09/01/25 | -9.67% | 72.33 | 80.07 |
| 8 | NATCIN 5.875 4/15/2028 144A | 5.88% | 04/15/28 | -9.33% | 37.21 | 41.04 |
| 9 | NGERIA 7.625 11/28/2047 REGS | 7.63% | 11/28/47 | -7.51% | 63.82 | 69.00 |
| 10 | DLLTD 8 4/1/2025 144A | 8.00% | 04/01/25 | -7.42% | 27.83 | 30.06 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 9/23/22 – 9/30/22 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 11/10/22 – 11/18/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 11/10/22 vs. the week ending 11/18/22
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | FTLNHD 6.8 8/5/2023 | 6.80% | 08/05/23 | 122 | 181 | 59 | 48% |
| 2 | HRINTH 4.875 11/22/2026 | 4.88% | 11/22/26 | 168 | 224 | 56 | 33% |
| 3 | YUZHOU 8.5 2/4/2023 | 8.50% | 02/04/23 | 144 | 194 | 50 | 35% |
| 4 | TPHL 6.75 7/8/2025 | 6.75% | 07/08/25 | 137 | 187 | 50 | 36% |
| 5 | HRINTH 4.625 6/3/2026 | 4.63% | 06/03/26 | 189 | 238 | 49 | 26% |
| 6 | HRINTH 5.5 4/27/2047 | 5.50% | 04/27/47 | 158 | 204 | 46 | 29% |
| 7 | HRINTH 4.75 4/27/2027 | 4.75% | 04/27/27 | 178 | 224 | 46 | 26% |
| 8 | YUZHOU 6 10/25/2023 | 6.00% | 10/25/23 | 120 | 164 | 44 | 37% |
| 9 | YUZHOU 8.5 2/26/2024 | 8.50% | 02/26/24 | 140 | 184 | 44 | 31% |
| 10 | YUZHOU 8.375 10/30/2024 | 8.38% | 10/30/24 | 130 | 174 | 44 | 34% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 11/10/22 – 11/18/22
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | F 7.35 11/4/2027 | 7.35% | 11/04/27 | 39 |
| 2 | TWTR 5 3/1/2030 144A | 5.00% | 03/01/30 | 37 |
| 3 | TWTR 3.875 12/15/2027 144A | 3.88% | 12/15/27 | 35 |
| 4 | CAR 5.375 3/1/2029 144A | 5.38% | 03/01/29 | 34 |
| 5 | OXY 2.7 2/15/2023 | 2.70% | 02/15/23 | 33 |
| 6 | TIBX 6.5 3/31/2029 144A | 6.50% | 03/31/29 | 33 |
| 7 | COIN 3.625 10/1/2031 144A | 3.63% | 10/01/31 | 33 |
| 8 | AXL 6.5 4/1/2027 | 6.50% | 04/01/27 | 33 |
| 9 | USB 5.85 10/21/2033 | 5.85% | 10/21/33 | 33 |
| 10 | CAR 5.75 7/15/2027 144A | 5.75% | 07/15/27 | 33 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 9/23/22 – 9/30/22 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 11/10/22 – 11/18/22
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