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.
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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