Corporates

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High Yield Corporate Bond Market Summary:
Week Ending 11/25/22

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 11/18/22 – 11/25/22

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W DEALERS
1 VIP 3.375 11/25/2027 REGS 3.38% 11/25/27 40.68% 69.56 49.45 7
2 HPDLF 7 5/18/2024 7.00% 05/18/24 31.00% 66.86 51.04 14
3 GEMDAL 4.95 8/12/2024 4.95% 08/12/24 23.10% 72.47 58.87 18
4 CHINSC 7.25 4/19/2023 7.25% 04/19/23 20.21% 31.03 25.81 19
5 RDHGCL 7.8 3/20/2024 7.80% 03/20/24 17.50% 37.76 32.14 12
6 AGUSAN 6.625 2/1/2023 6.63% 02/01/23 16.72% 70.03 60.00 15
7 BELRUS 7.625 6/29/2027 REGS 7.63% 06/29/27 16.20% 37.27 32.08 10
8 FOSUNI 5.95 10/19/2025 5.95% 10/19/25 14.80% 53.37 46.49 22
9 GRNLGR 5.9 2/12/2023 5.90% 02/12/23 14.21% 26.00 22.77 19
10 ROADKG 5.125 7/26/2026 5.13% 07/26/26 13.05% 40.48 35.81 16

Bottom 10 Performers

Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 11/18/22 – 11/25/22

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W DEALERS
1 CURO 7.5 8/1/2028 144A 7.50% 08/01/28 -9.83% 41.09 45.57 22
2 TLN 6.5 6/1/2025 6.50% 06/01/25 -9.62% 51.60 57.09 17
3 TKCHOL 10.5 5/15/2029 144A 10.50% 05/15/29 -9.33% 57.95 63.91 17
4 DLLTD 6.75 3/1/2023 6.75% 03/01/23 -8.91% 43.90 48.19 15
5 AMC 5.875 11/15/2026 5.88% 11/15/26 -8.41% 26.19 28.60 19
6 BTOWBZ 4.375 12/20/2030 REGS 4.38% 12/20/30 -8.01% 62.00 67.40 17
7 BIMLVN 7.375 5/7/2026 7.38% 05/07/26 -6.11% 58.19 61.98 9
8 CS 5.1 PERP REGS 5.10% 01/24/99 -5.98% 55.81 59.37 25
9 WNRFCO 8.75 7/15/2025 144A 8.75% 07/15/25 -5.77% 79.32 84.18 10
10 TMH 6.375 2/1/2025 6.38% 02/01/25 -5.67% 61.29 64.97 18

Avg Industry Price

Displays the HY Corp average industry price by sector between 11/18/22 – 11/25/22

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 11/18/22 – 11/25/22

Top Quote Volume Movers: This Week vs Last Week

Exhibits the HY Corps with the largest increase in quote volume for the week ending 11/18/22 vs. the week ending 11/25/22

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 TAKKO 5.375 11/15/2023 REGS 5.38% 11/15/23 85 138 53 62%
2 UNVMIA 4.063 4/1/2052 4.06% 04/01/52 69 110 41 59%
3 GZFYRE 13.6 7/27/2023 13.60% 07/27/23 25 61 36 144%
4 CRBG 3.9 4/5/2032 144A 3.90% 04/05/32 104 135 31 30%
5 YUZHOU 8.5 2/26/2024 8.50% 02/26/24 184 214 30 16%
6 YUZHOU 8.3 5/27/2025 8.30% 05/27/25 174 204 30 17%
7 YUZHOU 6 10/25/2023 6.00% 10/25/23 164 194 30 18%
8 CRBG 4.35 4/5/2042 144A 4.35% 04/05/42 60 90 30 50%
9 SCGALO 6.625 3/1/2030 144A 6.63% 03/01/30 210 239 29 14%
10 CIFIHG 4.375 4/12/2027 4.38% 04/12/27 209 236 27 13%

Most Quoted HY Corps

Ranks the HY Corps that were quoted by the highest number of dealers between 11/18/22 – 11/25/22

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 ELV 6.1 10/15/2052 6.10% 10/15/52 33
5 COIN 3.625 10/1/2031 144A 3.63% 10/01/31 33
6 ELV 5.5 10/15/2032 5.50% 10/15/32 33
7 GEHC 5.905 11/22/2032 144A 5.91% 11/22/32 33
8 AXL 6.25 3/15/2026 6.25% 03/15/26 32
9 DAN 5.375 11/15/2027 5.38% 11/15/27 32
10 CAR 5.375 3/1/2029 144A 5.38% 03/01/29 32

Bid-Offer Spread by Industry

Displays the HY Corp average bid-offer spread by industry between 11/18/22 – 11/25/22

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 11/18/22 – 11/25/22

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