Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 5/6/22
Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.
Forward Calendar
The following are lists of upcoming high-yield corporate bond offerings in the United States
| ISSUER | DEAL INFORMATION | BANKS | EXPECTED ISSUE DATE |
| Tenneco | $3 billion high-yield notes | N/A | 2nd Quarter 2022 |
| Viasat Inc. | $1.6 billion senior notes | BofA | 2nd Quarter 2022 |
Top 10 Winners
Showcases the top 10 HY Corp “winners” based on the largest bid price increases between 4/29/22 – 5/6/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | TLN 6 12/15/2036 | 6.00% | 12/15/36 | 18.98% | 39.16 | 32.92 |
| 2 | TPCG 10.5 8/1/2024 144A | 10.50% | 08/01/24 | 12.55% | 35.11 | 31.20 |
| 3 | VIP 4.95 6/16/2024 | 4.95% | 06/16/24 | 10.69% | 72.90 | 65.87 |
| 4 | ARGENT 0.125 7/9/2030 | 0.13% | 07/09/30 | 9.69% | 31.37 | 28.60 |
| 5 | LATAIR 6.875 4/11/2024 | 6.88% | 04/11/24 | 6.94% | 92.50 | 86.49 |
| 6 | GJTLIJ 8.95 6/23/2026 | 8.95% | 06/23/26 | 6.73% | 71.65 | 67.14 |
| 7 | ZHLGHD 9.5 7/29/2022 | 9.50% | 07/29/22 | 6.27% | 28.87 | 27.16 |
| 8 | AGILE 4.85 8/31/2022 | 4.85% | 08/31/22 | 6.24% | 67.36 | 63.40 |
| 9 | PWRLNG 4 7/25/2022 | 4.00% | 07/25/22 | 5.64% | 80.16 | 75.88 |
| 10 | UKRAIN 7.75 9/1/2025 | 7.75% | 09/01/25 | 5.25% | 34.88 | 33.14 |
Top 10 Losers
Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 4/29/22 – 5/6/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | POWBUY 9.033 12/4/2025 144A | 9.03% | 12/04/25 | -22.96% | 73.50 | 95.41 |
| 2 | ENDP 5.875 10/15/2024 | 5.88% | 10/15/24 | -15.33% | 78.38 | 92.57 |
| 3 | KWGPRO 7.4 3/5/2024 | 7.40% | 03/05/24 | -14.88% | 34.62 | 40.68 |
| 4 | SUNAC 7.25 6/14/2022 | 7.25% | 06/14/22 | -12.49% | 30.74 | 35.13 |
| 5 | AGGHOL 6.875 11/9/2025 | 6.88% | 11/09/25 | -12.20% | 36.34 | 41.39 |
| 6 | USRENA 10.625 7/15/2027 144A | 10.63% | 07/15/27 | -11.45% | 76.54 | 86.44 |
| 7 | CPS 5.625 11/15/2026 | 5.63% | 11/15/26 | -10.70% | 39.89 | 44.67 |
| 8 | KPERST 6.5 9/1/2026 REGS | 6.50% | 09/01/26 | -9.34% | 67.53 | 74.48 |
| 9 | PWRLNG 6.95 7/23/2023 | 6.95% | 07/23/23 | -9.28% | 42.67 | 47.03 |
| 10 | EVHC 8.75 10/15/2026 144A | 8.75% | 10/15/26 | -8.56% | 37.95 | 41.50 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 4/29/22 – 5/6/22
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 4/29/22 – 5/6/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 4/29/22 vs. the week ending 5/6/22
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | YANGOG 11.75 9/8/2022 | 11.75% | 09/08/22 | 4 | 79 | 75 | 1875% |
| 2 | YANGOG 12.5 2/20/2022 | 12.50% | 02/20/22 | 4 | 74 | 70 | 1750% |
| 3 | SBH 8.75 4/30/2025 144A | 8.75% | 04/30/25 | 185 | 255 | 70 | 38% |
| 4 | SINHLD 10.5 6/18/2022 | 10.50% | 06/18/22 | 4 | 70 | 66 | 1650% |
| 5 | GS 5.3 PERP | 5.30% | 07/27/99 | 8 | 58 | 50 | 625% |
| 6 | RUYIGR 6.95 7/5/2022 | 6.95% | 07/05/22 | 26 | 69 | 43 | 165% |
| 7 | SM 10 1/15/2025 144A | 10.00% | 01/15/25 | 238 | 280 | 42 | 18% |
| 8 | OMF 8.875 6/1/2025 | 8.88% | 06/01/25 | 272 | 310 | 38 | 14% |
| 9 | REDPRO 13 4/7/2023 | 13.00% | 04/07/23 | 15 | 53 | 38 | 253% |
| 10 | SUNSHI 10.25 9/15/2022 | 10.25% | 09/15/22 | 12 | 49 | 37 | 308% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 4/29/22 – 5/6/22
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | OMF 8.875 6/1/2025 | 8.88% | 06/01/25 | 38 |
| 2 | FMCN 7.25 4/1/2023 | 7.25% | 04/01/23 | 38 |
| 3 | HCA 5.875 5/1/2023 | 5.88% | 05/01/23 | 37 |
| 4 | CVNA 4.875 9/1/2029 144A | 4.88% | 09/01/29 | 36 |
| 5 | SGMS 8.625 7/1/2025 144A | 8.63% | 07/01/25 | 36 |
| 6 | TWTR 3.875 12/15/2027 144A | 3.88% | 12/15/27 | 36 |
| 7 | CHTR 4.25 2/1/2031 144A | 4.25% | 02/01/31 | 35 |
| 8 | CRK 7.5 5/15/2025 | 7.50% | 05/15/25 | 35 |
| 9 | CVNA 5.5 4/15/2027 144A | 5.50% | 04/15/27 | 35 |
| 10 | CVNA 5.875 10/1/2028 144A | 5.88% | 10/01/28 | 35 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 4/29/22 – 5/6/22
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 4/29/22 – 5/6/22
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