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High Yield Corporate Bond Market Summary:
Week Ending 1/13/23

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
W&T Offshore Inc. $275MM three-year note MS 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 1/6/23 – 1/13/23

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W DEALERS
1 USRENA 10.625 7/15/2027 144A 10.63% 07/15/27 25.50% 26.55 21.16 15
2 PKSTAN 8.875 4/8/2051 REGS 8.88% 04/08/51 21.18% 42.09 34.74 21
3 KIJAIJ 7 12/15/2027 144A 7.00% 12/15/27 20.93% 75.92 62.78 13
4 CCL 1 10/28/2029 1.00% 10/28/29 18.52% 49.43 41.71 18
5 CYH 6.875 4/1/2028 144A 6.88% 04/01/28 18.34% 59.42 50.21 20
6 GRNLGR 5.875 7/3/2026 5.88% 07/03/24 16.98% 49.87 42.63 6
7 RIG 4.625 9/30/2029 144A 4.63% 09/30/29 16.15% 176.95 152.34 7
8 LMRTSP 7.5 2/9/2026 7.50% 02/09/26 14.73% 74.09 64.58 17
9 ECUA 0 7/31/2030 REGS 0.00% 07/31/30 14.59% 46.90 40.93 17
10 SINOCE 6.876 PERP 4.90% 09/21/99 14.27% 52.91 46.30 4

Bottom 10 Performers

Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 1/6/23 – 1/13/23

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W DEALERS
1 CENCHI 7.65 8/27/2023 7.65% 08/27/23 -22.94% 38.08 49.41 19
2 KWGPRO 5.875 11/10/2024 5.88% 11/10/24 -16.93% 42.76 51.47 17
3 CIFIHG 6.55 3/28/2024 6.55% 03/28/24 -15.47% 29.70 35.13 20
4 EXIMUK 9.95 11/14/2029 9.95% 11/14/29 -12.07% 25.81 29.36 11
5 TACORA 8.25 5/15/2026 144A 8.25% 05/15/26 -11.46% 62.98 71.13 11
6 VNTR 5.75 7/15/2025 144A 5.75% 07/15/25 -11.26% 30.15 33.97 5
7 BOLIVI 4.5 3/20/2028 4.50% 03/20/28 -10.31% 71.64 79.87 10
8 INTHOL 8.375 5/13/2026 REGS 8.38% 05/13/26 -9.80% 34.90 38.69 18
9 CHINSC 6 2/4/2026 6.00% 02/04/26 -8.85% 45.86 50.31 18
10 FRIGOG 6.875 2/12/2025 REGS 6.88% 02/12/25 -7.94% 26.74 29.04 13

Avg Industry Price

Displays the HY Corp average industry price by sector between 1/6/23 – 1/13/23

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 1/6/23 – 1/13/23

Top Quote Volume Movers: This Week vs Last Week

Exhibits the HY Corps with the largest increase in quote volume for the week ending 1/6/23 vs. the week ending 1/13/23

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 SUN 4.5 4/30/2030 4.50% 04/30/30 40 164 124 310%
2 ARGENT 1.5 7/9/2035 1.50% 07/09/35 84 187 103 123%
3 ARGENT 3.5 7/9/2041 3.50% 07/09/41 110 209 99 90%
4 ARGENT 1.5 7/9/2046 1.50% 07/09/46 52 148 96 185%
5 ECUA 2.5 7/31/2035 REGS 2.50% 07/31/35 35 118 83 237%
6 ELV 4.101 3/1/2028 4.10% 03/01/28 43 120 77 179%
7 ECUA 1.5 7/31/2040 REGS 1.50% 07/31/40 38 114 76 200%
8 ELV 2.25 5/15/2030 2.25% 05/15/30 41 117 76 185%
9 ELV 3.125 5/15/2050 3.13% 05/15/50 59 135 76 129%
10 ELV 3.6 3/15/2051 3.60% 03/15/51 48 124 76 158%

Most Quoted HY Corps

Ranks the HY Corps that were quoted by the highest number of dealers between 1/6/23 – 1/13/23

RANK TRANCHE COUPON MATURITY DEALERS
1 F 6.95 3/6/2026 6.95% 03/06/26 40
2 F 7.35 3/6/2030 7.35% 03/06/30 40
3 ET 5.75 2/15/2033 5.75% 02/15/33 33
4 TIBX 6.5 3/31/2029 144A 6.50% 03/31/29 32
5 DUK 5.35 1/15/2053 5.35% 01/15/53 32
6 ACI 3.5 2/15/2023 144A 3.50% 02/15/23 32
7 MPEL 4.875 6/6/2025 4.88% 06/06/25 32
8 DISH 5 3/15/2023 5.00% 03/15/23 32
9 CHTR 4.25 2/1/2031 144A 4.25% 02/01/31 31
10 GM 6.4 1/9/2033 6.40% 01/09/33 31

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 1/6/23 – 1/13/23

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