High Yield Corporate Bond Market Summary – Week Ending 7/1/22
GET OUR CORPORATE MARKET SUMMARIES STRAIGHT TO YOUR INBOX. LEARN MORE
High Yield Corporate Bond Market Summary: Week Ending 7/1/22
Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.
New Issues
HY Corp bond new issues for the week ending 7/1/22, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PX AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| F&G Global Funding (USD) 5.15% 7/7/2025 | Senior Notes | 300 | N/A | N/A | N/A |
| Avaya Inc. (USD) 8% 12/15/2027 | Senior Notes | 250 | 100 | N/A | N/A |
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 6/24/22 – 7/1/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | SAWSST 7.75 1/23/2023 | 7.75% | 01/23/23 | 29.76% | 87.64 | 67.54 |
| 2 | FOUIHK 8.45 7/14/2020 | 8.45% | 07/14/20 | 11.72% | 38.39 | 34.36 |
| 3 | GHANA 7.875 3/26/2027 REGS | 7.88% | 03/26/27 | 8.98% | 64.19 | 58.90 |
| 4 | EVRAZ 5.25 4/2/2024 REGS | 5.25% | 04/02/24 | 8.27% | 48.49 | 44.79 |
| 5 | FOSUNI 4.35 5/6/2023 | 4.35% | 05/06/23 | 6.24% | 77.13 | 72.60 |
| 6 | AGILE 5.125 8/14/2022 | 5.13% | 08/14/22 | 6.20% | 78.70 | 74.11 |
| 7 | ANDRGI 9.5 12/30/2024 REGS | 9.50% | 12/30/24 | 5.40% | 53.66 | 50.91 |
| 8 | BUMIIJ 8 12/11/2022 | 8.00% | 12/11/22 | 4.79% | 65.89 | 62.87 |
| 9 | SJMHOL 4.5 1/27/2026 | 4.50% | 01/27/26 | 4.50% | 62.45 | 59.76 |
| 10 | BTUN 6.75 10/31/2023 REGS | 6.75% | 10/31/23 | 4.50% | 69.51 | 66.52 |
Top 10 Losers
Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 6/24/22 – 7/1/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | PRGO 5.3 11/15/2043 | 5.30% | 11/15/43 | -25.11% | 72.03 | 96.18 |
| 2 | HEIBOS 3.248 PERP | 3.25% | 11/19/99 | -24.20% | 59.37 | 78.32 |
| 3 | CPIPGR 4.875 PERP | 4.88% | 04/16/99 | -22.88% | 57.84 | 75.00 |
| 4 | KWGPRO 6 9/15/2022 | 6.00% | 09/15/22 | -22.74% | 39.06 | 50.57 |
| 5 | CENCHI 7.75 5/24/2024 | 7.75% | 05/24/24 | -20.18% | 31.70 | 39.72 |
| 6 | BLT 7.875 10/15/2029 144A | 7.88% | 10/15/29 | -16.21% | 57.95 | 69.16 |
| 7 | ROADKG 7 PERP | 7.00% | 06/23/99 | -16.08% | 42.94 | 51.17 |
| 8 | SIGHCO 5.75 5/15/2026 REGS | 5.75% | 05/15/26 | -16.08% | 51.38 | 61.23 |
| 9 | METINV 7.75 10/17/2029 REGS | 7.75% | 10/17/29 | -14.02% | 50.71 | 58.98 |
| 10 | UKRAIN 7.75 9/1/2023 | 7.75% | 09/01/23 | -13.93% | 31.01 | 36.03 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 6/24/22 – 7/1/22 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 6/24/22 – 7/1/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 6/24/22 vs. the week ending 7/1/22
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | MAXR 7.75 6/15/2027 144A | 7.75% | 06/15/27 | 119 | 190 | 71 | 60% |
| 2 | REV 6.25 8/1/2024 | 6.25% | 08/01/24 | 50 | 108 | 58 | 116% |
| 3 | PARA 4.2 6/1/2029 | 4.20% | 06/01/29 | 152 | 209 | 57 | 38% |
| 4 | PARA 3.375 2/15/2028 | 3.38% | 02/15/28 | 133 | 184 | 51 | 38% |
| 5 | PARA 4.95 1/15/2031 | 4.95% | 01/15/31 | 197 | 247 | 50 | 25% |
| 6 | PARA 2.9 1/15/2027 | 2.90% | 01/15/27 | 144 | 191 | 47 | 33% |
| 7 | RYI 8.5 8/1/2028 REGS | 8.50% | 08/01/28 | 141 | 187 | 46 | 33% |
| 8 | VIA 6.875 4/30/2036 | 6.88% | 04/30/36 | 160 | 205 | 45 | 28% |
| 9 | VMED 4 1/31/2029 144A | 4.00% | 01/31/29 | 61 | 105 | 44 | 72% |
| 10 | CCL 6 5/1/2029 REGS | 6.00% | 05/01/29 | 225 | 266 | 41 | 18% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 6/24/22 – 7/1/22
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | PBFENE 9.25 5/15/2025 144A | 9.25% | 05/15/25 | 44 |
| 2 | CPE 6.125 10/1/2024 | 6.13% | 10/01/24 | 37 |
| 3 | IBM 2.72 2/9/2032 | 2.72% | 02/09/32 | 36 |
| 4 | FYBR 8.75 5/15/2030 144A | 8.75% | 05/15/30 | 35 |
| 5 | MPEL 4.875 6/6/2025 | 4.88% | 06/06/25 | 35 |
| 6 | CHTR 5.25 4/1/2053 | 5.25% | 04/01/53 | 35 |
| 7 | CPE 9 4/1/2025 144A | 9.00% | 04/01/25 | 35 |
| 8 | THC 6.75 6/15/2023 | 6.75% | 06/15/23 | 35 |
| 9 | GT 5 5/31/2026 | 5.00% | 05/31/26 | 35 |
| 10 | S 7.875 9/15/2023 | 7.88% | 09/15/23 | 35 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 6/24/22 – 7/1/22 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 6/24/22 – 7/1/22
Stay up-to-date with weekly summaries.
Related Resources
About SOLVE
SOLVE is the leading market data platform provider for fixed-income securities, trusted by sophisticated buy-side and sell-side firms worldwide. Founded in 2011, SOLVE leverages its AI-driven technology and deep industry expertise to offer unparalleled transparency into markets, reduce risk, and save hundreds of hours across front-office workflows. With the largest real-time datasets for Securitized Products, Municipal Bonds, Corporate Bonds, Syndicated Bank Loans, Convertible Bonds, CDS, and Private Credit, SOLVE empowers clients to transform the way they bring new securities to market, trade on secondary markets, and value highly illiquid securities. Headquartered in Connecticut, with offices across the globe, SOLVE is the definitive source for market pricing in fixed-income markets.
