Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 1/6/23
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 |
| Acuris Finance US, Inc. | $850MM senior secured notes | Q1 2023 | |
| Tenneco Inc. | $3 billion high-yield notes – $2 billion secured notes and $1 billion unsecured notes | N/A | Q1 2023 |
| Viasat Inc. | $1.6 billion senior notes | N/A | Q1 2023 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 12/30/22 – 1/6/23
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
| 1 | CENCHI 7.25 8/13/2024 | 7.25% | 08/13/24 | 49.50% | 40.54 | 27.12 | 17 |
| 2 | SINOCE 6.876 PERP | 4.90% | 09/21/99 | 48.82% | 46.30 | 31.11 | 4 |
| 3 | LOGPH 7.5 8/25/2022 | 7.50% | 08/25/22 | 41.31% | 31.22 | 22.10 | 15 |
| 4 | GRNLGR 6.25 12/16/2024 | 6.25% | 12/16/24 | 39.97% | 56.46 | 40.34 | 12 |
| 5 | CIFIHG 6 7/16/2025 | 6.00% | 07/16/25 | 36.06% | 34.73 | 25.53 | 20 |
| 6 | AGILE 5.5 5/17/2026 | 5.50% | 05/17/26 | 34.45% | 59.75 | 44.44 | 18 |
| 7 | CHINSC 5.95 9/29/2024 | 5.95% | 09/29/24 | 33.65% | 56.56 | 42.32 | 17 |
| 8 | SUNAC 6.5 1/26/2026 | 6.50% | 01/26/26 | 33.49% | 27.72 | 20.77 | 21 |
| 9 | CHJMAO 4.875 PERP | 4.88% | NULL | 31.21% | 94.36 | 71.91 | 11 |
| 10 | KWGPRO 7.875 8/30/2024 | 7.88% | 08/30/24 | 27.70% | 57.39 | 44.94 | 12 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 12/30/22 – 1/6/23
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
| 1 | MDLNIJ 0 6/30/2025 | 3.00% | 06/30/25 | -10.39% | 35.83 | 39.99 | 8 |
| 2 | KZOKZ 6.375 10/24/2048 REGS | 6.38% | 10/24/48 | -5.74% | 78.19 | 82.95 | 16 |
| 3 | HEARTL 8.5 5/1/2026 144A | 8.50% | 05/01/26 | -5.12% | 83.65 | 88.17 | 14 |
| 4 | VNTR 5.75 7/15/2025 REGS | 5.75% | 07/15/25 | -4.99% | 31.62 | 33.28 | 17 |
| 5 | AVYA 6.125 9/15/2028 144A | 6.13% | 09/15/28 | -4.85% | 30.90 | 32.48 | 12 |
| 6 | CSOLNO 6 2/3/2027 REGS | 6.00% | 02/03/27 | -4.39% | 60.13 | 62.90 | 9 |
| 7 | PELHOL 4.125 4/1/2024 | 4.13% | 04/01/24 | -3.97% | 81.75 | 85.13 | 18 |
| 8 | SFLY 8.5 10/1/2026 144A | 8.50% | 10/01/26 | -3.64% | 55.01 | 57.09 | 19 |
| 9 | RGCARE 5.375 1/15/2029 144A | 5.38% | 01/15/29 | -3.29% | 57.95 | 59.93 | 18 |
| 10 | CACC 6.625 3/15/2026 | 6.63% | 03/15/26 | -3.22% | 91.53 | 94.57 | 16 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 12/30/22 – 1/6/23
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 12/30/22 – 1/6/23
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 12/30/22 vs. the week ending 1/6/23
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | HEIBOS 3.248 PERP | 3.25% | 11/19/99 | 56 | 143 | 87 | 155% |
| 2 | CTRA 4.375 3/15/2029 | 4.38% | 03/15/29 | 26 | 84 | 58 | 223% |
| 3 | GRNLGR 6.25 12/16/2024 | 6.25% | 12/16/24 | 24 | 82 | 58 | 242% |
| 4 | CTRA 3.9 5/15/2027 | 3.90% | 05/15/27 | 12 | 58 | 46 | 383% |
| 5 | REITDU 9.5 12/12/2024 REGS | 9.50% | 12/12/24 | 2 | 46 | 44 | 2200% |
| 6 | CSCHCN 9 10/9/2024 | 9.00% | 10/09/24 | 30 | 71 | 41 | 137% |
| 7 | TRGP 6.25 7/1/2052 | 6.25% | 07/01/52 | 240 | 279 | 39 | 16% |
| 8 | TATAIN 5.45 1/24/2028 | 5.45% | 01/24/28 | 214 | 246 | 32 | 15% |
| 9 | BHARTI 5.35 5/20/2024 | 5.35% | 05/20/24 | 145 | 177 | 32 | 22% |
| 10 | WDC 2.85 2/1/2029 | 2.85% | 02/01/29 | 127 | 155 | 28 | 22% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 12/30/22 – 1/6/23
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | ET 5.75 2/15/2033 | 5.75% | 02/15/33 | 33 |
| 2 | TIBX 6.5 3/31/2029 144A | 6.50% | 03/31/29 | 32 |
| 3 | CHTR 6.375 9/1/2029 144A | 6.38% | 09/01/29 | 31 |
| 4 | MPEL 4.875 6/6/2025 | 4.88% | 06/06/25 | 31 |
| 5 | WYNMAC 5.125 12/15/2029 REGS | 5.13% | 12/15/29 | 31 |
| 6 | PBFX 6.875 5/15/2023 | 6.88% | 05/15/23 | 30 |
| 7 | CHTR 4.5 6/1/2033 144A | 4.50% | 06/01/33 | 30 |
| 8 | CHTR 4.25 2/1/2031 144A | 4.25% | 02/01/31 | 30 |
| 9 | WYNMAC 5.625 8/26/2028 REGS | 5.63% | 08/26/28 | 30 |
| 10 | WYNMAC 4.875 10/1/2024 REGS | 4.88% | 10/01/24 | 30 |
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 12/30/22 – 1/6/23
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