Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 10/16/20
Our newsletter presents key trends derived from observable High Yield Corporate Bond pricing data over a weekly period.
Top 10 Winners
Showcases the top 10 HY Corp “winners” based on the largest bid price increases between 10/9/20 – 10/16/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | MNK 5.5 4/15/2025 | 5.50% | 04/15/25 | 37.05% | 34.84 | 25.42 |
| 2 | RIG 6.375 12/15/2021 | 6.38% | 12/15/21 | 20.81% | 62.64 | 51.85 |
| 3 | ASRIIJ 6.625 4/24/2022 | 6.63% | 04/24/22 | 14.51% | 65.59 | 57.28 |
| 4 | CEIX 11 11/15/2025 144A | 11.00% | 11/15/25 | 11.99% | 48.79 | 43.56 |
| 5 | BALTAL 7.75 9/15/2022 | 7.75% | 09/15/22 | 9.01% | 84.85 | 77.83 |
| 6 | MULCEN 6.5 8/1/2023 REGS | 6.50% | 08/01/23 | 7.72% | 48.78 | 45.28 |
| 7 | NAVIRA 0 7/31/2023 | 5.99% | 07/31/23 | 7.35% | 51.02 | 47.53 |
| 8 | DSPORT 6.625 8/15/2027 144A | 6.63% | 08/15/27 | 6.30% | 48.97 | 46.06 |
| 9 | GOLLBZ 8.75 4/29/2049 | 8.75% | 04/29/49 | 6.17% | 72.05 | 67.86 |
| 10 | CIT 6.125 3/9/2028 | 6.13% | 03/09/28 | 5.68% | 122.29 | 115.71 |
Top 10 Losers
Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 10/9/20 – 10/16/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | VEDLN 9.25 4/23/2026 144A | 9.25% | 04/23/26 | -16.53% | 58.17 | 69.70 |
| 2 | FRETAI 5.6 1/22/2025 REGS | 5.60% | 01/22/25 | -15.79% | 68.02 | 80.78 |
| 3 | ZAMBIN 8.97 7/30/2027 | 8.97% | 07/30/27 | -13.23% | 42.07 | 48.48 |
| 4 | NATCIN 5.75 8/15/2026 | 5.75% | 08/15/26 | -11.54% | 57.45 | 64.94 |
| 5 | BTU 6 3/31/2022 | 6.00% | 03/31/22 | -10.84% | 47.31 | 53.06 |
| 6 | EVERRE 7.5 6/28/2023 | 7.50% | 06/28/23 | -9.03% | 73.70 | 81.01 |
| 7 | AMC 10.5 4/15/2025 144A | 10.50% | 04/15/25 | -7.46% | 61.40 | 66.35 |
| 8 | ELSALV 9.5 7/15/2052 REGS | 9.50% | 07/15/52 | -7.19% | 89.34 | 96.26 |
| 9 | SASSS 5.375 11/24/2022 | 5.38% | 11/24/22 | -6.00% | 72.57 | 77.21 |
| 10 | MASAIN 5 9/15/2024 REGS | 5.00% | 09/15/24 | -5.80% | 76.90 | 81.64 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 10/9/20 – 10/16/20
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 10/9/20 – 10/16/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 10/9/20 vs. the week ending 10/16/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | BHRAIN 5.45 9/16/2032 REGS | 5.45% | 09/16/32 | 48 | 147 | 99 | 206% |
| 2 | TRWH 6.75 6/1/2027 144A | 6.75% | 06/01/27 | 78 | 156 | 78 | 100% |
| 3 | AAL 3.75 10/15/2025 | 3.75% | 10/15/25 | 130 | 205 | 75 | 58% |
| 4 | HLT 4.875 1/15/2030 | 4.88% | 01/15/30 | 25 | 97 | 72 | 288% |
| 5 | RUYIGR 6.95 7/5/2022 | 6.95% | 07/05/22 | 90 | 158 | 68 | 76% |
| 6 | QRVO 3.375 4/1/2031 144A | 3.38% | 04/01/31 | 98 | 165 | 67 | 68% |
| 7 | BALN 1.9 2/15/2031 REGS | 1.90% | 02/15/31 | 30 | 93 | 63 | 210% |
| 8 | VAHAU 7.875 10/15/2021 | 7.88% | 10/15/21 | 55 | 118 | 63 | 115% |
| 9 | STLD 4.125 9/15/2025 | 4.13% | 09/15/25 | 59 | 108 | 49 | 83% |
| 10 | AMGENE 9.5 10/1/2028 144A | 9.50% | 10/01/28 | 51 | 96 | 45 | 88% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 10/9/20 – 10/16/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | PETBRA 6.85 6/5/2015 | 6.85% | 06/05/15 | 35 |
| 2 | ARGENT 1 7/9/2029 | 1.00% | 07/09/29 | 35 |
| 3 | PETBRA 5.75 2/1/2029 | 5.75% | 02/01/29 | 34 |
| 4 | DAL 4.5 10/20/2025 144A | 4.50% | 10/20/25 | 34 |
| 5 | ARGENT 0.125 7/9/2035 | 0.13% | 07/09/35 | 34 |
| 6 | ARGENT 0.125 1/9/2038 | 0.13% | 01/09/38 | 34 |
| 7 | ARGENT 0.125 7/9/2030 | 0.13% | 07/09/30 | 34 |
| 8 | CNSL 6.5 10/1/2022 | 6.50% | 10/01/22 | 34 |
| 9 | PETBRA 8.75 5/23/2026 | 8.75% | 05/23/26 | 34 |
| 10 | PETBRA 6.875 1/20/2040 | 6.88% | 01/20/40 | 33 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 10/9/20 – 10/16/20
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 10/9/20 – 10/16/20
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