Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 12/4/20
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 11/27/20 – 12/4/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | THSCPA 7.95 8/15/2021 | 7.95% | 08/15/21 | 56.13% | 64.60 | 41.37 |
| 2 | PDCN 7.125 1/15/2026 144A | 7.13% | 01/15/26 | 21.05% | 79.80 | 65.92 |
| 3 | NBR 7.5 1/15/2028 144A | 7.50% | 01/15/28 | 21.05% | 65.10 | 53.78 |
| 4 | ABMMIJ 7.125 8/1/2022 REGS | 7.13% | 08/01/22 | 18.51% | 79.27 | 66.89 |
| 5 | GTE 7.75 5/23/2027 144A | 7.75% | 05/23/27 | 18.30% | 47.66 | 40.29 |
| 6 | CPE 8.25 7/15/2025 | 8.25% | 07/15/25 | 16.37% | 40.48 | 34.79 |
| 7 | KLXE 11.5 11/1/2025 144A | 11.50% | 11/01/25 | 14.10% | 47.10 | 41.28 |
| 8 | REV 6.25 8/1/2024 | 6.25% | 08/01/24 | 13.87% | 28.35 | 24.90 |
| 9 | SOCIIJ 8.375 1/31/2023 REGS | 8.38% | 01/31/23 | 13.06% | 68.08 | 60.21 |
| 10 | EAGRUY 7.5 5/1/2025 REGS | 7.50% | 05/01/25 | 12.87% | 87.34 | 77.38 |
Top 10 Losers
Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 11/27/20 – 12/4/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | CAMLNG 3.701 1/15/2039 144A | 3.70% | 01/15/39 | -12.28% | 111.34 | 126.92 |
| 2 | ATHCN 9.875 2/24/2022 | 9.88% | 02/24/22 | -11.63% | 31.01 | 35.10 |
| 3 | VEDLN 9.25 4/23/2026 144A | 9.25% | 04/23/26 | -11.58% | 56.20 | 63.56 |
| 4 | BAKIDE 7.45 11/15/2029 REGS | 7.45% | 11/15/29 | -9.35% | 90.40 | 99.72 |
| 5 | PBRXIJ 7.625 1/26/2022 | 7.63% | 01/26/22 | -9.16% | 62.72 | 69.05 |
| 6 | BUENOS 0 5/31/2022 | 37.46% | 05/31/22 | -8.16% | 81.81 | 89.08 |
| 7 | SRILAN 6.125 6/3/2025 | 6.13% | 06/03/25 | -7.62% | 60.88 | 65.90 |
| 8 | TPCG 10.5 8/1/2024 144A | 10.50% | 08/01/24 | -7.01% | 77.00 | 82.80 |
| 9 | RIG 8 2/1/2027 144A | 8.00% | 02/01/27 | -6.45% | 35.63 | 38.08 |
| 10 | NEWLSQ 15.5 11/1/2023 144A | 15.50% | 11/01/23 | -5.20% | 91.59 | 96.62 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 11/27/20 – 12/4/20
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 11/27/20 – 12/4/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 11/27/20 vs. the week ending 12/4/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | HKJHCC 4.575 4/20/2020 | 4.58% | 04/20/20 | 21 | 95 | 74 | 352% |
| 2 | LUMN 5.125 12/15/2026 REGS | 5.13% | 12/15/26 | 5 | 69 | 64 | 1280% |
| 3 | HEES 5.625 9/1/2025 | 5.63% | 09/01/25 | 167 | 223 | 56 | 34% |
| 4 | AMN 4 4/15/2029 REGS | 4.00% | 04/15/29 | 46 | 98 | 52 | 113% |
| 5 | HTZ 6.25 10/15/2022 | 6.25% | 10/15/22 | 113 | 159 | 46 | 41% |
| 6 | KWGPRO 6.3 2/13/2026 | 6.30% | 02/13/26 | 107 | 152 | 45 | 42% |
| 7 | RIG 6.8 3/15/2038 | 6.80% | 03/15/38 | 227 | 269 | 42 | 19% |
| 8 | RIG 7.5 4/15/2031 | 7.50% | 04/15/31 | 259 | 300 | 41 | 16% |
| 9 | GNW 6.5 8/15/2025 144A | 6.50% | 08/15/25 | 153 | 191 | 38 | 25% |
| 10 | TEN 7.875 1/15/2029 144A | 7.88% | 01/15/29 | 153 | 189 | 36 | 24% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 11/27/20 – 12/4/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | PETBRA 5.999 1/27/2028 | 6.00% | 01/27/28 | 33 |
| 2 | PETBRA 8.75 5/23/2026 | 8.75% | 05/23/26 | 33 |
| 3 | PETBRA 6.85 6/5/2015 | 6.85% | 06/05/15 | 32 |
| 4 | RIG 7.5 4/15/2031 | 7.50% | 04/15/31 | 32 |
| 5 | PETBRA 5.75 2/1/2029 | 5.75% | 02/01/29 | 31 |
| 6 | AR 5.375 11/1/2021 | 5.38% | 11/01/21 | 31 |
| 7 | PETBRA 7.375 1/17/2027 | 7.38% | 01/17/27 | 31 |
| 8 | YPFDAR 8.5 3/23/2021 | 8.50% | 03/23/21 | 31 |
| 9 | PETBRA 6.25 3/17/2024 | 6.25% | 03/17/24 | 31 |
| 10 | PETBRA 6.875 1/20/2040 | 6.88% | 01/20/40 | 31 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 11/27/20 – 12/4/20
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 11/27/20 – 12/4/20
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