Corporates

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High Yield Corporate Bond Market Summary:
Week Ending 3/12/21

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

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Top 10 Winners

Showcases the top 10 HY Corp “winners” based on the largest bid price increases between 3/5/21 – 3/12/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 MNK 5.625 10/15/2023 5.63% 10/15/23 22.12% 65.14 53.34
2 FTR 7 11/1/2025 7.00% 11/01/25 15.21% 61.99 53.81
3 ATHCN 9.875 2/24/2022 9.88% 02/24/22 14.55% 79.30 69.22
4 EXLINT 10 7/15/2023 144A 10.00% 07/15/23 11.82% 36.19 32.36
5 MULCEN 6.5 8/1/2023 REGS 6.50% 08/01/23 11.43% 75.15 67.44
6 DOFSQ 7.875 8/15/2025 7.88% 08/15/25 11.37% 27.84 25.00
7 AMC 5.875 11/15/2026 5.88% 11/15/26 11.06% 61.97 55.80
8 RIG 7.5 4/15/2031 7.50% 04/15/31 9.77% 54.39 49.55
9 PBFENE 7.25 6/15/2025 7.25% 06/15/25 8.47% 82.04 75.63
10 LGUANG 8.85 1/10/2022 8.85% 01/10/22 8.38% 88.48 81.64

Top 10 Losers

Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 3/5/21 – 3/12/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 PBRXIJ 7.625 1/26/2022 7.63% 01/26/22 -6.81% 34.81 37.35
2 BUENOS 7.875 6/15/2027 7.88% 06/15/27 -6.06% 30.02 31.96
3 ARGENT 1 7/9/2029 1.00% 07/09/29 -5.43% 35.67 37.71
4 DALWAN 8.875 3/21/2023 8.88% 03/21/23 -4.72% 85.44 89.67
5 ELSALV 7.1246 1/20/2050 REGS 7.12% 01/20/50 -4.25% 89.98 93.97
6 VOTORA 7.25 4/5/2041 7.25% 04/05/41 -4.24% 128.15 133.82
7 BTU 6.375 3/31/2025 6.38% 03/31/25 -3.74% 46.63 48.44
8 CHUBUT 7.75 7/26/2026 7.75% 07/26/30 -3.65% 71.38 74.08
9 ENTRIO 8.75 2/8/2025 8.75% 02/08/25 -3.64% 63.76 66.16
10 ENDP 6 6/30/2028 144A 6.00% 06/30/28 -3.59% 83.68 86.80

Avg Industry Price

Displays the HY Corp average industry price by sector between 3/5/21 – 3/12/21

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 3/5/21 – 3/12/21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the HY Corps with the largest increase in quote volume for the week ending 3/5/21 vs. the week ending 3/12/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 DVA 4.625 6/1/2030 144A 4.63% 06/01/30 10 152 142 1420%
2 GRMPAC 7.125 8/15/2028 144A 7.13% 08/15/28 27 137 110 407%
3 IEP 4.75 9/15/2024 4.75% 09/15/24 36 144 108 300%
4 MTCHII 5 12/15/2027 144A 5.00% 12/15/27 55 142 87 158%
5 IEP 5.25 5/15/2027 5.25% 05/15/27 33 119 86 261%
6 PPD 4.625 6/15/2025 144A 4.63% 06/15/25 51 133 82 161%
7 MTCHII 4.125 8/1/2030 144A 4.13% 08/01/30 45 123 78 173%
8 MGMCHI 5.25 6/18/2025 REGS 5.25% 06/18/25 97 172 75 77%
9 FIAMER 7.875 11/15/2025 144A 7.88% 11/15/25 8 77 69 863%
10 MDZACN 6.5 5/1/2024 7.50% 05/01/24 49 117 68 139%

Most Quoted HY Corps

Ranks the HY Corps that were quoted by the highest number of dealers between 3/5/21 – 3/12/21

RANK TRANCHE COUPON MATURITY DEALERS
1 MUR 4 6/1/2022 4.00% 06/01/22 36
2 POST 5 8/15/2026 5.00% 08/15/26 34
3 TROX 5.75 10/1/2025 144A 5.75% 10/01/25 33
4 SBH 5.5 11/1/2023 5.50% 11/01/23 33
5 TROX 6.5 4/15/2026 144A 6.50% 04/15/26 33
6 MUR 3.7 12/1/2022 3.70% 12/01/22 33
7 PETBRA 7.375 1/17/2027 7.38% 01/17/27 32
8 PETBRA 6.9 3/19/2049 6.90% 03/19/49 32
9 PETBRA 8.75 5/23/2026 8.75% 05/23/26 32
10 HHC 5.375 3/15/2025 5.38% 03/15/25 32

Bid-Offer Spread by Industry

Displays the HY Corp average bid-offer spread by industry between 3/5/21 – 3/12/21

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 3/5/21 – 3/12/21

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