Corporates

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High Yield Corporate Bond Market Summary:
Week Ending 8/20/21

Our newsletter presents key trends derived from observable 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 8/13/21 – 8/20/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 HRRLET 1.625 12/5/2022 1.63% 12/05/22 31.78% 78.90 59.87
2 HRINTH 3.8 11/7/2025 3.80% 11/07/25 29.49% 89.77 69.32
3 ZAMBIN 8.97 7/30/2027 8.97% 07/30/27 13.81% 74.93 65.84
4 PBRXIJ 7.625 1/26/2022 7.63% 01/26/22 12.61% 39.99 35.52
5 NOGLN 8 7/25/2022 REGS 8.00% 07/25/22 7.17% 26.98 25.17
6 CBL 5.25 12/1/2023 5.25% 12/01/23 6.54% 60.07 56.38
7 ELSALV 7.625 2/1/2041 7.63% 02/01/41 6.48% 83.61 78.52
8 EVHC 8.75 10/15/2026 144A 8.75% 10/15/26 6.37% 82.47 77.54
9 CBL 4.6 10/15/2024 4.60% 10/15/24 6.36% 60.28 56.68
10 FUEGO 8.95 4/17/2027 8.95% 04/17/27 5.71% 80.72 76.37

Top 10 Losers

Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 8/13/21 – 8/20/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 TLN 10.5 1/15/2026 144A 10.50% 01/15/26 -26.42% 41.43 56.30
2 TIANHL 11.5 10/24/2022 11.50% 10/24/22 -18.76% 34.68 42.68
3 HBCY 10 PERP 10.00% 10/29/49 -12.22% 49.55 56.45
4 KAISAG 11.95 10/22/2022 144A 11.95% 10/22/22 -11.31% 96.29 108.57
5 CENCHI 7.75 5/24/2024 7.75% 05/24/24 -11.12% 72.31 81.35
6 EVERRE 9.5 4/11/2022 9.50% 04/11/22 -10.82% 47.77 53.57
7 SCN 10.75 8/31/2029 10.75% 08/31/29 -9.84% 38.86 43.09
8 QGOGCO 10 11/9/2024 144A 10.00% 11/09/24 -8.75% 27.92 30.60
9 CSCHCN 10.75 4/11/2023 10.75% 04/11/23 -8.44% 71.80 78.42
10 CAPG 5.98 8/18/2025 5.98% 08/18/25 -6.86% 80.36 86.27

Avg Industry Price

Displays the HY Corp average industry price by sector between 8/13/21 – 8/20/21

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 8/13/21 – 8/20/21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the HY Corps with the largest increase in quote volume for the week ending 8/13/21 vs. the week ending 8/20/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 ELDCN 9.5 6/1/2024 144A 9.50% 06/01/24 175 231 56 32%
2 TELSAT 4.875 6/1/2027 144A 4.88% 06/01/27 239 289 50 21%
3 AXL 6.25 4/1/2025 6.25% 04/01/25 273 321 48 18%
4 TELSAT 5.625 12/6/2026 144A 5.63% 12/06/26 214 261 47 22%
5 WW 4.5 4/15/2029 144A 4.50% 04/15/29 234 280 46 20%
6 TALO 12 1/15/2026 12.00% 01/15/26 29 70 41 141%
7 UNM 7.405 3/15/2038 7.41% 03/15/38 112 152 40 36%
8 KEADGR 7.875 7/31/2023 7.88% 07/31/23 94 134 40 43%
9 TEP 5.5 9/15/2024 5.50% 09/15/24 273 313 40 15%
10 TELSAT 6.5 10/15/2027 144A 6.50% 10/15/27 235 275 40 17%

Most Quoted HY Corps

Ranks the HY Corps that were quoted by the highest number of dealers between 8/13/21 – 8/20/21

RANK TRANCHE COUPON MATURITY DEALERS
1 CHTR 5.75 2/15/2026 5.75% 02/15/26 43
2 SIRI 5.375 7/15/2026 5.38% 07/15/26 40
3 NRG 7.25 5/15/2026 7.25% 05/15/26 39
4 CAR 5.25 3/15/2025 5.25% 03/15/25 39
5 AXL 6.25 4/1/2025 6.25% 04/01/25 39
6 URI 5.875 9/15/2026 5.88% 09/15/26 38
7 TEP 5.5 9/15/2024 5.50% 09/15/24 38
8 ADT 3.5 7/15/2022 3.50% 07/15/22 38
9 TSLA 5.3 8/15/2025 144A 5.30% 08/15/25 37
10 SIRI 4.625 7/15/2024 144A 4.63% 07/15/24 37

Bid-Offer Spread by Industry

Displays the HY Corp average bid-offer spread by industry between 8/13/21 – 8/20/21

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 8/13/21 – 8/20/21

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