Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 12/2/22
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 11/25/22 – 12/2/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
| 1 | KWGPRO 5.875 11/10/2024 | 5.88% | 11/10/24 | 75.67% | 27.72 | 15.78 | 19 |
| 2 | CHINSC 7 5/2/2025 | 7.00% | 05/02/25 | 42.40% | 26.04 | 18.28 | 20 |
| 3 | FTLNHD 4.5 5/2/2026 | 4.50% | 05/02/26 | 41.19% | 59.67 | 42.26 | 17 |
| 4 | GLPSP 4.6 PERP | 4.60% | 09/29/99 | 40.10% | 50.38 | 35.96 | 12 |
| 5 | ROADKG 5.2 1/12/2026 | 5.20% | 01/12/26 | 34.29% | 55.38 | 41.24 | 17 |
| 6 | STCITY 6.5 1/15/2028 144A | 6.50% | 01/15/28 | 30.91% | 77.07 | 58.88 | 7 |
| 7 | FUTLAN 4.45 7/13/2025 | 4.45% | 07/13/25 | 30.58% | 61.17 | 46.84 | 16 |
| 8 | PKSTAN 6.875 12/5/2027 REGS | 6.88% | 12/05/27 | 28.73% | 43.46 | 33.76 | 23 |
| 9 | CSOLNO 6 2/3/2027 REGS | 6.00% | 02/03/27 | 25.29% | 69.88 | 55.77 | 11 |
| 10 | MPEL 5.75 7/21/2028 144A | 5.75% | 07/21/28 | 20.42% | 83.15 | 69.05 | 7 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 11/25/22 – 12/2/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
| 1 | WHLPRO 6.5 5/15/2029 144A | 6.50% | 05/15/29 | -14.36% | 35.97 | 42.00 | 18 |
| 2 | ATALIA 6.625 5/15/2025 144A | 6.63% | 05/15/25 | -13.17% | 87.12 | 100.34 | 10 |
| 3 | BBBY 3.749 8/1/2024 | 3.75% | 08/01/24 | -11.58% | 29.79 | 33.69 | 20 |
| 4 | DLLTD 6.75 3/1/2023 | 6.75% | 03/01/23 | -11.26% | 38.96 | 43.90 | 15 |
| 5 | GIII 7.875 8/15/2025 144A | 7.88% | 08/15/25 | -11.21% | 85.99 | 96.85 | 18 |
| 6 | TLN 7 10/15/2027 | 7.00% | 10/15/27 | -8.58% | 48.83 | 53.42 | 3 |
| 7 | CS 7.25 PERP REGS | 7.25% | 09/12/99 | -8.55% | 67.99 | 74.35 | 26 |
| 8 | HEIBOS 3.625 PERP | 3.63% | 01/13/99 | -7.89% | 60.33 | 65.50 | 13 |
| 9 | LIFUNG 5.25 12/31/2049 | 5.25% | 12/31/49 | -7.06% | 45.09 | 48.52 | 5 |
| 10 | FRIGOG 6.875 2/12/2025 REGS | 6.88% | 02/12/25 | -6.99% | 34.76 | 37.37 | 15 |
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 11/25/22 – 12/2/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 11/25/22 vs. the week ending 12/2/22
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | IMKTA 4 6/15/2031 144A | 4.00% | 06/15/31 | 122 | 156 | 34 | 28% |
| 2 | EHICAR 7 9/21/2026 | 7.00% | 09/21/26 | 104 | 136 | 32 | 31% |
| 3 | JWN 4 3/15/2027 | 4.00% | 03/15/27 | 198 | 227 | 29 | 15% |
| 4 | FOUIHK 6.25 10/17/2020 | 6.25% | 10/17/20 | 52 | 81 | 29 | 56% |
| 5 | WBD 3.25 4/1/2023 | 3.25% | 04/01/23 | 38 | 65 | 27 | 71% |
| 6 | KORS 4 11/1/2024 144A | 4.00% | 11/01/24 | 48 | 73 | 25 | 52% |
| 7 | JINGRU 14.5 2/19/2023 | 14.50% | 02/19/23 | 78 | 103 | 25 | 32% |
| 8 | REV 6.25 8/1/2024 | 6.25% | 08/01/24 | 105 | 129 | 24 | 23% |
| 9 | SPB 3.875 3/15/2031 144A | 3.88% | 03/15/31 | 193 | 217 | 24 | 12% |
| 10 | GLPSP 4.6 PERP | 4.60% | 09/29/99 | 87 | 110 | 23 | 26% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 11/25/22 – 12/2/22
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | F 7.35 11/4/2027 | 7.35% | 11/04/27 | 36 |
| 2 | GEHC 5.905 11/22/2032 144A | 5.91% | 11/22/32 | 34 |
| 3 | GEHC 6.377 11/22/2052 144A | 6.38% | 11/22/52 | 33 |
| 4 | TWTR 5 3/1/2030 144A | 5.00% | 03/01/30 | 33 |
| 5 | COIN 3.625 10/1/2031 144A | 3.63% | 10/01/31 | 33 |
| 6 | BALL 4 11/15/2023 | 4.00% | 11/15/23 | 33 |
| 7 | SRE 6.35 11/15/2052 | 6.35% | 11/15/52 | 32 |
| 8 | BBDBCN 7.875 4/15/2027 | 7.88% | 04/15/27 | 32 |
| 9 | TIBX 6.5 3/31/2029 144A | 6.50% | 03/31/29 | 32 |
| 10 | DVA 4.625 6/1/2030 | 4.63% | 06/01/30 | 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 11/25/22 – 12/2/22
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