Corporates

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High Yield Corporate Bond Market Summary:
Week Ending 4/9/21

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 4/1/21 – 4/9/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 CHQENE 5.625 3/18/2022 5.63% 03/18/22 33.49% 52.43 39.28
2 AMC 6.125 5/15/2027 6.13% 05/15/27 17.01% 72.92 62.32
3 INLOTG 6.75 9/15/2021 REGS 6.75% 09/15/21 10.20% 79.12 71.80
4 HOV 5 2/1/2040 144A 5.00% 02/01/40 9.88% 47.88 43.57
5 MNK 5.75 8/1/2022 5.75% 08/01/22 7.70% 74.25 68.94
6 BTU 8.5 12/31/2024 144A 8.50% 12/31/24 7.06% 44.97 42.00
7 SRILAN 6.825 7/18/2026 6.83% 07/18/26 6.41% 65.15 61.22
8 LATAIR 4.5 11/15/2023 4.50% 11/15/23 5.90% 60.00 56.66
9 ANGOL 9.375 5/8/2048 REGS 9.38% 05/08/48 5.59% 99.84 94.55
10 INCMBZ 5.75 7/17/2024 REGS 5.75% 07/17/24 5.57% 92.33 87.46

Top 10 Losers

Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 4/1/21 – 4/9/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 SRILIJ 7.25 1/16/2025 REGS 7.25% 01/16/25 -14.13% 29.87 34.78
2 ANDRGI 9.5 12/30/2024 REGS 9.50% 12/30/24 -8.08% 53.27 57.96
3 ETP 0 11/1/2066 3.22% 11/01/66 -8.05% 63.42 68.97
4 DSPORT 6.625 8/15/2027 144A 6.63% 08/15/27 -6.28% 48.72 51.98
5 CAPG 5.98 8/18/2025 5.98% 08/18/25 -4.13% 93.83 97.88
6 METINV 7.65 10/1/2027 REGS 7.65% 10/01/27 -3.90% 102.66 106.83
7 YUZHOU 6.35 1/13/2027 6.35% 01/13/27 -3.74% 82.42 85.63
8 METINV 8.5 4/23/2026 REGS 8.50% 04/23/26 -3.67% 107.03 111.11
9 YPFDAR 1.5 9/30/2033 REGS 1.50% 09/30/33 -3.67% 44.85 46.56
10 DTEKUA 10.75 12/31/2024 10.75% 12/31/24 -3.58% 78.17 81.08

Avg Industry Price

Displays the HY Corp average industry price by sector between 4/1/21 – 4/9/21

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 4/1/21 – 4/9/21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the HY Corps with the largest increase in quote volume for the week ending 4/1/21 vs. the week ending 4/9/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 BWXT 4.125 4/15/2029 144A 4.13% 04/15/29 86 153 67 78%
2 FGP 8.625 6/15/2020 8.63% 06/15/20 22 80 58 264%
3 DAEHIM 5.875 6/1/2025 REGS 5.88% 06/01/25 20 70 50 250%
4 WW 8.625 12/1/2025 144A 8.63% 12/01/25 148 197 49 33%
5 ET 5.5 6/1/2027 5.50% 06/01/27 20 66 46 230%
6 ETE 5.875 1/15/2024 5.88% 01/15/24 25 70 45 180%
7 WH 5.375 4/15/2026 144A 5.38% 04/15/26 216 259 43 20%
8 CMLP 6.25 4/1/2023 6.25% 04/01/23 177 216 39 22%
9 FOR 8 4/15/2024 144A 8.00% 04/15/24 163 198 35 21%
10 RCL 5.5 4/1/2028 144A 5.50% 04/01/28 275 310 35 13%

Most Quoted HY Corps

Ranks the HY Corps that were quoted by the highest number of dealers between 4/1/21 – 4/9/21

RANK TRANCHE COUPON MATURITY DEALERS
1 GT 5.125 11/15/2023 5.13% 11/15/23 36
2 CAR 6.375 4/1/2024 6.38% 04/01/24 36
3 PETBRA 8.75 5/23/2026 8.75% 05/23/26 33
4 PETBRA 7.25 3/17/2044 7.25% 03/17/44 33
5 PETBRA 5.999 1/27/2028 6.00% 01/27/28 33
6 PETBRA 6.9 3/19/2049 6.90% 03/19/49 33
7 PETBRA 5.299 1/27/2025 5.30% 01/27/25 33
8 PETBRA 6.25 3/17/2024 6.25% 03/17/24 33
9 MUR 4 6/1/2022 4.00% 06/01/22 33
10 ARGID 6 2/15/2025 6.00% 02/15/25 32

Bid-Offer Spread by Industry

Displays the HY Corp average bid-offer spread by industry between 4/1/21 – 4/9/21

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 4/1/21 – 4/9/21

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