Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 12/23/21
Our newsletter presents key trends derived from observable 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 12/17/21 – 12/23/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | LEDES 0 4/29/2022 | 0.00% | 04/29/22 | 9.61% | 94.48 | 86.20 |
| 2 | SHIMAO 6.125 2/21/2024 | 6.13% | 02/21/24 | 7.24% | 58.55 | 54.59 |
| 3 | FRETAI 5.6 1/22/2025 REGS | 5.60% | 01/22/25 | 6.92% | 60.61 | 56.68 |
| 4 | TAPTRA 5.625 12/2/2024 REGS | 5.63% | 12/02/24 | 6.21% | 89.45 | 84.23 |
| 5 | CCL 5.75 3/1/2027 144A | 5.75% | 03/01/27 | 4.50% | 100.99 | 96.64 |
| 6 | FLY 5.25 10/15/2024 | 5.25% | 10/15/24 | 4.28% | 100.31 | 96.19 |
| 7 | M 6.7 9/15/2028 | 6.70% | 09/15/28 | 3.88% | 112.42 | 108.22 |
| 8 | AMC 10 6/15/2026 144A | 10.00% | 06/15/26 | 3.76% | 96.87 | 93.35 |
| 9 | RCL 3.7 3/15/2028 | 3.70% | 03/15/28 | 3.68% | 93.56 | 90.24 |
| 10 | RISSUN 8 4/24/2022 | 8.00% | 04/24/22 | 3.64% | 33.08 | 31.92 |
Top 10 Losers
Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 12/17/21 – 12/23/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | KAISA 8.65 7/22/2022 | 8.65% | 07/22/22 | -17.40% | 26.72 | 32.35 |
| 2 | THYAO 4.2 3/15/2027 | 4.20% | 03/15/27 | -12.30% | 81.20 | 92.59 |
| 3 | EXCECP 6.8 12/19/2022 | 6.80% | 12/19/22 | -9.53% | 85.95 | 95.00 |
| 4 | NDN 7.5 1/15/2026 144A | 7.50% | 01/15/26 | -9.05% | 77.35 | 85.04 |
| 5 | SUNAC 6.8 10/20/2024 | 6.80% | 10/20/24 | -8.32% | 65.92 | 71.91 |
| 6 | YUZHOU 8.5 2/4/2023 | 8.50% | 02/04/23 | -7.55% | 35.00 | 37.86 |
| 7 | GRNLGR 5.9 2/12/2023 | 5.90% | 02/12/23 | -7.34% | 79.15 | 85.42 |
| 8 | SUNSHI 7.875 9/4/2024 | 7.88% | 09/04/24 | -6.57% | 25.08 | 26.84 |
| 9 | TLN 10.5 1/15/2026 144A | 10.50% | 01/15/26 | -4.56% | 45.70 | 47.88 |
| 10 | PWRLNG 5.95 4/30/2025 | 5.95% | 04/30/25 | -4.09% | 82.95 | 86.48 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 12/17/21 – 12/23/21
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 12/17/21 – 12/23/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 12/17/21 vs. the week ending 12/23/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | MOLAND 11.8 2/26/2022 | 11.80% | 02/26/22 | 130 | 216 | 86 | 66% |
| 2 | STX 3.375 7/15/2031 | 3.38% | 07/15/31 | 110 | 176 | 66 | 60% |
| 3 | HOWMID 6.75 1/15/2027 144A | 6.75% | 01/15/27 | 110 | 175 | 65 | 59% |
| 4 | SAH 4.625 11/15/2029 144A | 4.63% | 11/15/29 | 101 | 165 | 64 | 63% |
| 5 | APG 4.75 10/15/2029 REGS | 4.75% | 10/15/29 | 22 | 76 | 54 | 245% |
| 6 | AES 1.375 1/15/2026 | 1.38% | 01/15/26 | 43 | 92 | 49 | 114% |
| 7 | STX 3.125 7/15/2029 | 3.13% | 07/15/29 | 127 | 168 | 41 | 32% |
| 8 | APA 3.25 4/15/2022 | 3.25% | 04/15/22 | 132 | 173 | 41 | 31% |
| 9 | HRC 4.375 9/15/2027 144A | 4.38% | 09/15/27 | 150 | 190 | 40 | 27% |
| 10 | CHTR 3.5 3/1/2042 | 3.50% | 03/01/42 | 268 | 306 | 38 | 14% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 12/17/21 – 12/23/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | EVERRE 8.75 6/28/2025 | 8.75% | 06/28/25 | 37 |
| 2 | CHTR 4.25 2/1/2031 144A | 4.25% | 02/01/31 | 36 |
| 3 | F 8.5 4/21/2023 | 8.50% | 04/21/23 | 36 |
| 4 | CHTR 5.125 5/1/2027 | 5.13% | 05/01/27 | 35 |
| 5 | DISH 5.125 6/1/2029 | 5.13% | 06/01/29 | 35 |
| 6 | WYNMAC 5.125 12/15/2029 REGS | 5.13% | 12/15/29 | 35 |
| 7 | KAISAG 6.5 12/7/2021 | 6.50% | 12/07/21 | 35 |
| 8 | OTCCN 5.875 6/1/2026 | 5.88% | 06/01/26 | 35 |
| 9 | SHIMAO 4.75 7/3/2022 | 4.75% | 07/03/22 | 35 |
| 10 | SUNAC 7.25 6/14/2022 | 7.25% | 06/14/22 | 35 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 12/17/21 – 12/23/21
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 12/17/21 – 12/23/21
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