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
Top 10 Performers
Bottom 10 Performers
Avg Industry Price
Market Sentiment
Top Movers
Most Quoted HY
Bid Offer Spread
Bid Offer Volume

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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