Corporates

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High Yield Corporate Bond Market Summary:
Week Ending 1/7/22

Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.

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Top 10 Winners
Top 10 Losers
Avg Industry Price
Market Sentiment
Top Movers
Most Quoted HY
Bid Offer Spread
Bid Offer Volume

Top 10 Winners

Showcases the top 10 HY Corp “winners” based on the largest bid price increases between 12/31/21 – 1/7/22

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 YUZHOU 6.35 1/13/2027 6.35% 01/13/27 -8.65% 27.63 30.24
1 CSCHCN 11.5 2/12/2022 11.50% 02/12/22 42.60% 81.73 57.31
2 NOGLN 8 7/25/2022 REGS 8.00% 07/25/22 37.43% 25.42 18.50
3 SMLP 9.5 PERP 9.50% 11/14/99 15.73% 85.83 74.16
4 CMS 3.75 12/1/2050 3.75% 12/01/50 13.82% 111.64 98.09
5 RFLB 8.15 2/3/2027 8.15% 02/03/27 13.21% 112.58 99.44
6 NOGLN 7 2/16/2025 REGS 7.00% 02/16/25 9.82% 26.48 24.11
7 ZHPRHK 10.25 PERP 10.25% 12/31/99 8.54% 97.52 89.84
8 PBFENE 7.25 6/15/2025 7.25% 06/15/25 7.89% 76.39 70.80
9 SUNSHI 5.3 1/11/2022 5.30% 01/11/22 6.73% 29.26 27.41

Top 10 Losers

Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 12/31/21 – 1/7/22

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 SHIMAO 4.75 7/3/2022 4.75% 07/03/22 -37.84% 44.49 71.59
2 AGILE 5.5 5/17/2026 5.50% 05/17/26 -26.88% 42.64 58.32
3 GZRFPR 9.125 7/28/2022 9.13% 07/28/22 -24.83% 32.61 43.38
4 AGILE 8.375 PERP 8.38% 06/04/99 -22.30% 36.51 46.99
5 TPHL 5.75 1/14/2027 5.75% 01/14/27 -22.25% 52.38 67.37
6 KWGPRO 5.875 11/10/2024 5.88% 11/10/24 -15.89% 60.89 72.39
7 FTLNHD 4.625 10/15/2025 4.63% 10/15/25 -14.40% 73.48 85.84
8 REDSUN 9.7 4/16/2023 9.70% 04/16/23 -13.88% 38.73 44.97
9 FUTLAN 4.45 7/13/2025 4.45% 07/13/25 -13.84% 71.66 83.18
10 FTLNHD 4.8 12/15/2024 4.80% 12/15/24 -13.75% 77.35 89.68

Avg Industry Price

Displays the HY Corp average industry price by sector between 12/31/21 – 1/7/22

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 12/31/21 – 1/7/22

Top Quote Volume Movers: This Week vs Last Week

Exhibits the HY Corps with the largest increase in quote volume for the week ending 12/31/21 vs. the week ending 1/7/22

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 GWTH 16 7/11/2023 16.00% 07/11/23 10 80 70 700%
2 NOGLN 8 7/25/2022 REGS 8.00% 07/25/22 12 76 64 533%
3 KLXE 11.5 11/1/2025 144A 11.50% 11/01/25 53 107 54 102%
4 JINGRU 12 1/28/2024 12.00% 01/28/24 6 60 54 900%
5 TPHL 5.75 4/26/2022 5.75% 04/26/22 138 187 49 36%
6 SKLZ 10.25 12/15/2026 144A 10.25% 12/15/26 72 118 46 64%
7 CVA 6 1/1/2027 6.00% 01/01/27 181 226 45 25%
8 FL 8.5 1/15/2022 8.50% 01/15/22 62 107 45 73%
9 DTEKUA 7 12/31/2027 7.00% 12/31/27 42 82 40 95%
10 AKBHC 6 PERP 144A 6.00% 12/20/99 39 77 38 97%

Most Quoted HY Corps

Ranks the HY Corps that were quoted by the highest number of dealers between 12/31/21 – 1/7/22

RANK TRANCHE COUPON MATURITY DEALERS
1 SUNAC 7.25 6/14/2022 7.25% 06/14/22 36
2 ZIGGO 5.5 1/15/2027 5.50% 01/15/27 35
3 CPE 8 8/1/2028 144A 8.00% 08/01/28 35
4 DISH 5.125 6/1/2029 5.13% 06/01/29 35
5 CHTR 5.125 5/1/2027 5.13% 05/01/27 35
6 DISH 5.875 7/15/2022 5.88% 07/15/22 35
7 CHTR 4.25 2/1/2031 144A 4.25% 02/01/31 34
8 DISH 5 3/15/2023 5.00% 03/15/23 34
9 GT 5.625 4/30/2033 5.63% 04/30/33 34
10 SHIMAO 4.75 7/3/2022 4.75% 07/03/22 34

Bid-Offer Spread by Industry

Displays the HY Corp average bid-offer spread by industry between 12/31/21 – 1/7/22

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 12/31/21 – 1/7/22

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