Corporates

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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.

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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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