Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 8/13/21
Our newsletter presents key trends derived from observable 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 8/6/21 – 8/13/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | KAISAG 9.375 6/30/2024 | 9.38% | 06/30/24 | 10.13% | 92.79 | 84.26 |
| 2 | HRINTH 4.95 11/7/2047 | 4.95% | 11/07/47 | 10.09% | 70.54 | 64.08 |
| 3 | QGOGCO 10 11/9/2024 144A | 10.00% | 11/09/24 | 10.06% | 30.60 | 27.80 |
| 4 | MNK 4.75 4/15/2023 | 4.75% | 04/15/23 | 9.62% | 26.71 | 24.37 |
| 5 | APLNIJ 5.95 6/2/2024 | 5.95% | 06/02/24 | 9.32% | 60.00 | 54.88 |
| 6 | ZHLGHD 7.5 1/31/2022 | 7.50% | 01/31/22 | 9.20% | 84.69 | 77.55 |
| 7 | TELSAT 6.5 10/15/2027 144A | 6.50% | 10/15/27 | 7.13% | 89.48 | 83.53 |
| 8 | EVERRE 8.25 3/23/2022 | 8.25% | 03/23/22 | 6.97% | 55.18 | 51.58 |
| 9 | YUZHOU 7.85 8/12/2026 | 7.85% | 08/12/26 | 6.79% | 81.27 | 76.10 |
| 10 | VEDLN 6.125 8/9/2024 REGS | 6.13% | 08/09/24 | 5.72% | 87.22 | 82.50 |
Top 10 Losers
Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 8/6/21 – 8/13/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | TLN 6 12/15/2036 | 6.00% | 12/15/36 | -21.95% | 39.33 | 50.39 |
| 2 | FRETAI 5.6 1/22/2025 REGS | 5.60% | 01/22/25 | -12.82% | 56.86 | 65.22 |
| 3 | NINE 8.75 11/1/2023 144A | 8.75% | 11/01/23 | -11.22% | 50.03 | 56.36 |
| 4 | NOGLN 8 7/25/2022 REGS | 8.00% | 07/25/22 | -7.16% | 25.17 | 27.12 |
| 5 | SRILAN 6.35 6/28/2024 REGS | 6.35% | 06/28/24 | -6.71% | 62.61 | 67.11 |
| 6 | HRRLET 1.625 12/5/2022 | 1.63% | 12/05/22 | -6.69% | 59.87 | 64.16 |
| 7 | CSVCAC 7.75 6/15/2025 144A | 7.75% | 06/15/25 | -6.50% | 80.39 | 85.98 |
| 8 | SVKING 7.875 10/1/2022 | 7.88% | 10/01/22 | -6.35% | 87.01 | 92.91 |
| 9 | PERLNG 5.375 3/22/2030 REGS | 5.38% | 03/22/30 | -5.46% | 72.71 | 76.91 |
| 10 | DSPORT 6.625 8/15/2027 144A | 6.63% | 08/15/27 | -5.26% | 38.21 | 40.34 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 8/6/21 – 8/13/21
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 8/6/21 – 8/13/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 8/6/21 vs. the week ending 8/13/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | SIRI 3.875 9/1/2031 144A | 3.88% | 09/01/31 | 205 | 330 | 125 | 61% |
| 2 | HESM 4.25 2/15/2030 144A | 4.25% | 02/15/30 | 175 | 296 | 121 | 69% |
| 3 | SIRI 3.125 9/1/2026 144A | 3.13% | 09/01/26 | 196 | 315 | 119 | 61% |
| 4 | FORD MTR CR CO LLC MEDIUM TERM | 2.70% | 05/20/26 | 29 | 145 | 116 | 400% |
| 5 | FLOW 5.875 8/15/2026 | 5.88% | 08/15/26 | 160 | 223 | 63 | 39% |
| 6 | MHO 5.625 8/1/2025 | 5.63% | 08/01/25 | 190 | 240 | 50 | 26% |
| 7 | REZI 6.125 11/1/2026 144A | 6.13% | 11/01/26 | 160 | 209 | 49 | 31% |
| 8 | APA 4.25 1/15/2044 | 4.25% | 01/15/44 | 270 | 318 | 48 | 18% |
| 9 | CMS 3.75 12/1/2050 | 3.75% | 12/01/50 | 78 | 125 | 47 | 60% |
| 10 | NRG 7.25 5/15/2026 | 7.25% | 05/15/26 | 260 | 305 | 45 | 17% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 8/6/21 – 8/13/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | CHTR 5.75 2/15/2026 | 5.75% | 02/15/26 | 42 |
| 2 | ADT 3.5 7/15/2022 | 3.50% | 07/15/22 | 41 |
| 3 | NRG 7.25 5/15/2026 | 7.25% | 05/15/26 | 38 |
| 4 | SIRI 3.875 8/1/2022 144A | 3.88% | 08/01/22 | 38 |
| 5 | TSLA 5.3 8/15/2025 144A | 5.30% | 08/15/25 | 38 |
| 6 | URI 5.875 9/15/2026 | 5.88% | 09/15/26 | 38 |
| 7 | CNC 5.375 8/15/2026 144A | 5.38% | 08/15/26 | 38 |
| 8 | SIRI 4.625 7/15/2024 144A | 4.63% | 07/15/24 | 37 |
| 9 | X 6.875 8/15/2025 | 6.88% | 08/15/25 | 37 |
| 10 | HNDLIN 5.875 9/30/2026 | 5.88% | 09/30/26 | 37 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 8/6/21 – 8/13/21
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 8/6/21 – 8/13/21
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