Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 3/19/21
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 3/12/21 – 3/19/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | VESENE 8.125 7/24/2023 | 8.13% | 07/24/23 | 20.08% | 48.72 | 40.58 |
| 2 | REV 6.25 8/1/2024 | 6.25% | 08/01/24 | 10.18% | 34.26 | 31.09 |
| 3 | BUENOS 7.875 6/15/2027 | 7.88% | 06/15/27 | 9.43% | 32.85 | 30.02 |
| 4 | ECUA 0.5 7/31/2030 REGS | 6.16% | 07/31/30 | 9.27% | 58.76 | 53.78 |
| 5 | NM 7.375 1/15/2022 | 7.38% | 01/15/22 | 8.00% | 75.81 | 70.20 |
| 6 | SMLP 9.5 PERP | 9.50% | 11/14/99 | 7.34% | 64.33 | 59.93 |
| 7 | ARGENT 0.125 7/9/2041 | 0.13% | 07/09/41 | 7.19% | 35.46 | 33.08 |
| 8 | SUNSHI 7.5 2/17/2025 | 7.50% | 02/17/25 | 6.14% | 98.25 | 92.56 |
| 9 | TAKKO 0 11/15/2023 REGS | 4.84% | 11/15/23 | 5.96% | 89.66 | 84.62 |
| 10 | SRILAN 5.875 7/25/2022 | 5.88% | 07/25/22 | 5.59% | 72.50 | 68.66 |
Top 10 Losers
Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 3/12/21 – 3/19/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | GXFING 3.6 11/18/2023 | 3.60% | 11/18/23 | -10.90% | 84.48 | 94.81 |
| 2 | OXY 4.4 4/15/2046 | 4.40% | 04/15/46 | -7.01% | 80.73 | 86.82 |
| 3 | SRILIJ 7.25 1/16/2025 REGS | 7.25% | 01/16/25 | -6.77% | 75.74 | 81.25 |
| 4 | FANHAI 14.5 5/23/2021 | 14.50% | 05/23/21 | -6.65% | 82.99 | 88.91 |
| 5 | APA 4.25 1/15/2044 | 4.25% | 01/15/44 | -6.51% | 85.19 | 91.12 |
| 6 | JOMAR 9.85 11/15/2023 | 9.85% | 11/15/23 | -6.25% | 90.00 | 96.00 |
| 7 | NBR 5.75 2/1/2025 | 5.75% | 02/01/25 | -6.21% | 77.62 | 82.76 |
| 8 | CLR 4.9 6/1/2044 | 4.90% | 06/01/44 | -6.18% | 96.94 | 103.32 |
| 9 | MSSCRK 7.5 1/15/2026 144A | 7.50% | 01/15/26 | -5.09% | 81.18 | 85.53 |
| 10 | WES 5.3 3/1/2048 | 5.30% | 03/01/48 | -5.05% | 99.46 | 104.74 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 3/12/21 – 3/19/21
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 3/12/21 – 3/19/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 3/12/21 vs. the week ending 3/19/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | PBFENE 6 2/15/2028 | 6.00% | 02/15/28 | 38 | 214 | 176 | 463% |
| 2 | VSAT 5.625 4/15/2027 REGS | 5.63% | 04/15/27 | 14 | 152 | 138 | 986% |
| 3 | UKRAIN 7.253 3/15/2033 144A | 7.25% | 03/15/33 | 34 | 170 | 136 | 400% |
| 4 | MDLNIJ 6.95 4/13/2024 | 6.95% | 04/13/24 | 19 | 142 | 123 | 647% |
| 5 | UKRAIN 0 5/31/2040 | 0.00% | 05/31/40 | 52 | 168 | 116 | 223% |
| 6 | ORBIA 5.5 1/15/2048 REGS | 5.50% | 01/15/48 | 44 | 154 | 110 | 250% |
| 7 | GRNKEN 5.25 7/24/2024 REGS | 5.25% | 07/24/24 | 50 | 158 | 108 | 216% |
| 8 | ATLIM 5.875 6/9/2024 | 5.88% | 06/09/24 | 44 | 143 | 99 | 225% |
| 9 | TRUK 6.25 2/1/2029 144A | 6.25% | 02/01/29 | 71 | 169 | 98 | 138% |
| 10 | BALY 6.75 6/1/2027 144A | 6.75% | 06/01/27 | 76 | 174 | 98 | 129% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 3/12/21 – 3/19/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | MUR 4 6/1/2022 | 4.00% | 06/01/22 | 37 |
| 2 | CAR 6.375 4/1/2024 | 6.38% | 04/01/24 | 35 |
| 3 | PETBRA 8.75 5/23/2026 | 8.75% | 05/23/26 | 34 |
| 4 | PETBRA 7.375 1/17/2027 | 7.38% | 01/17/27 | 34 |
| 5 | MUR 3.7 12/1/2022 | 3.70% | 12/01/22 | 34 |
| 6 | TROX 6.5 4/15/2026 144A | 6.50% | 04/15/26 | 34 |
| 7 | TROX 5.75 10/1/2025 144A | 5.75% | 10/01/25 | 34 |
| 8 | PETBRA 5.299 1/27/2025 | 5.30% | 01/27/25 | 33 |
| 9 | PETBRA 6.875 1/20/2040 | 6.88% | 01/20/40 | 33 |
| 10 | PETBRA 7.25 3/17/2044 | 7.25% | 03/17/44 | 33 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 3/12/21 – 3/19/21
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 3/12/21 – 3/19/21
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