Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 12/9/22
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 12/2/22 – 12/9/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
| 1 | CENCHI 7.9 11/7/2023 | 7.90% | 11/07/23 | 76.58% | 29.89 | 16.92 | 20 |
| 2 | PWRLNG 5.95 4/30/2025 | 5.95% | 04/30/25 | 63.70% | 27.73 | 16.94 | 19 |
| 3 | KWGPRO 7.4 3/5/2024 | 7.40% | 03/05/24 | 50.44% | 39.24 | 26.08 | 18 |
| 4 | AGILE 7.75 PERP | 7.75% | 11/25/99 | 39.66% | 25.83 | 18.50 | 17 |
| 5 | CHINSC 7.25 4/19/2023 | 7.25% | 04/19/23 | 35.56% | 53.32 | 39.33 | 20 |
| 6 | CIFIHG 5.5 1/23/2023 | 5.50% | 01/23/23 | 33.65% | 29.35 | 21.96 | 23 |
| 7 | GFMEGA 8.25 2/11/2025 REGS | 8.25% | 02/11/25 | 26.99% | 49.13 | 38.69 | 12 |
| 8 | ROADKG 5.2 1/12/2026 | 5.20% | 01/12/26 | 19.69% | 66.28 | 55.38 | 17 |
| 9 | FOSUNI 5.95 10/19/2025 | 5.95% | 10/19/25 | 17.30% | 73.95 | 63.04 | 22 |
| 10 | EHICAR 7.75 11/14/2024 | 7.75% | 11/14/24 | 12.04% | 62.50 | 55.79 | 14 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 12/2/22 – 12/9/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
| 1 | INTLGR 6.125 4/1/2029 144A | 6.13% | 04/01/29 | -18.94% | 33.76 | 41.65 | 10 |
| 2 | WNRFCO 8.75 7/15/2025 144A | 8.75% | 07/15/25 | -18.06% | 65.66 | 80.13 | 9 |
| 3 | AMC 7.5 2/15/2029 144A | 7.50% | 02/15/29 | -15.32% | 48.13 | 56.84 | 29 |
| 4 | PKSTAN 7.375 4/8/2031 REGS | 7.38% | 04/08/31 | -11.89% | 35.06 | 39.79 | 25 |
| 5 | BBGI 8.625 2/1/2026 144A | 8.63% | 02/01/26 | -11.44% | 56.47 | 63.76 | 16 |
| 6 | GHANA 8.95 3/26/2051 REGS | 8.95% | 03/26/51 | -10.19% | 30.59 | 34.06 | 14 |
| 7 | RAX 3.5 2/15/2028 144A | 3.50% | 02/15/28 | -8.33% | 63.20 | 68.95 | 24 |
| 8 | RAD 7.7 2/15/2027 | 7.70% | 02/15/27 | -8.24% | 48.21 | 52.54 | 24 |
| 9 | SRILAN 7.85 3/14/2029 REGS | 7.85% | 03/14/29 | -7.67% | 29.49 | 31.94 | 20 |
| 10 | PAKWNP 7.5 6/4/2031 | 7.50% | 06/04/31 | -7.16% | 28.85 | 31.08 | 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 12/2/22 – 12/9/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 12/2/22 vs. the week ending 12/9/22
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | METALG 8.5 6/28/2026 | 8.50% | 06/28/26 | 15 | 53 | 38 | 253% |
| 2 | VAC 6.125 9/15/2025 144A | 6.13% | 09/15/25 | 182 | 219 | 37 | 20% |
| 3 | DEXICN 9.95 12/3/2022 | 9.95% | 12/03/22 | 56 | 90 | 34 | 61% |
| 4 | SOIAZ 7.23 3/17/2026 | 7.23% | 03/17/26 | 6 | 40 | 34 | 567% |
| 5 | DISH 5 3/15/2023 | 5.00% | 03/15/23 | 265 | 296 | 31 | 12% |
| 6 | CHBANI 7.5 4/15/2025 | 7.50% | 04/15/25 | 224 | 254 | 30 | 13% |
| 7 | KZOKZ 5.375 4/24/2030 REGS | 5.38% | 04/24/30 | 146 | 176 | 30 | 21% |
| 8 | KZOKZ 3.5 4/14/2033 REGS | 3.50% | 04/14/33 | 136 | 166 | 30 | 22% |
| 9 | SHTFIN 4.4 3/13/2024 REGS | 4.40% | 03/13/24 | 198 | 226 | 28 | 14% |
| 10 | NEXEOP 10.125 4/1/2026 144A | 10.13% | 04/01/26 | 132 | 160 | 28 | 21% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 12/2/22 – 12/9/22
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | GEHC 5.905 11/22/2032 144A | 5.91% | 11/22/32 | 34 |
| 2 | OKE 6.1 11/15/2032 | 6.10% | 11/15/32 | 34 |
| 3 | F 7.35 11/4/2027 | 7.35% | 11/04/27 | 34 |
| 4 | GEHC 6.377 11/22/2052 144A | 6.38% | 11/22/52 | 33 |
| 5 | MAT 3.15 3/15/2023 | 3.15% | 03/15/23 | 33 |
| 6 | DVA 4.625 6/1/2030 | 4.63% | 06/01/30 | 33 |
| 7 | DVA 3.75 2/15/2031 REGS | 3.75% | 02/15/31 | 33 |
| 8 | TIBX 6.5 3/31/2029 144A | 6.50% | 03/31/29 | 32 |
| 9 | BGS 5.25 9/15/2027 | 5.25% | 09/15/27 | 32 |
| 10 | BGS 5.25 4/1/2025 | 5.25% | 04/01/25 | 32 |
Bid-Offer Spread by Industry
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 12/2/22 – 12/9/22
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