Corporates

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High Yield Corporate Bond Market Summary:
Week Ending 8/6/21

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 7/30/21 – 8/6/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 GZRFPR 8.125 7/11/2024 8.13% 07/11/24 12.66% 75.52 67.03
2 YUZHOU 6.35 1/13/2027 6.35% 01/13/27 12.44% 74.38 66.15
3 TIANHL 12 10/24/2023 12.00% 10/24/23 12.07% 40.36 36.02
4 APLNIJ 5.95 6/2/2024 5.95% 06/02/24 11.28% 54.88 49.32
5 HRINTH 4 PERP 4.00% 11/07/99 9.43% 73.03 66.74
6 KAISAG 10.5 1/15/2025 10.50% 01/15/25 9.18% 83.80 76.76
7 CREAL 9.125 PERP REGS 9.13% 11/29/99 8.53% 73.31 67.55
8 TLN 6.5 9/15/2024 144A 6.50% 09/15/24 7.64% 60.73 56.42
9 EVHC 8.75 10/15/2026 144A 8.75% 10/15/26 6.13% 76.99 72.54
10 BUENOS 4 5/15/2035 4.00% 05/15/35 5.68% 40.90 38.70

Top 10 Losers

Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 7/30/21 – 8/6/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 RISSUN 8.95 1/18/2022 8.95% 01/18/22 -9.34% 58.94 65.01
2 FRETAI 5.6 1/22/2025 REGS 5.60% 01/22/25 -9.06% 65.22 71.72
3 TIANHL 11.5 10/24/2022 11.50% 10/24/22 -8.63% 41.42 45.34
4 RIG 6.8 3/15/2038 6.80% 03/15/38 -7.25% 50.01 53.92
5 AMC 5.875 11/15/2026 5.88% 11/15/26 -6.38% 61.12 65.28
6 ENDP 6 2/1/2025 6.00% 02/01/25 -5.74% 67.59 71.70
7 EVERRE 9.5 4/11/2022 9.50% 04/11/22 -5.66% 50.73 53.78
8 LPI 7.75 7/31/2029 144A 7.75% 07/31/29 -5.48% 90.83 96.10
9 NBR 7.5 1/15/2028 144A 7.50% 01/15/28 -5.32% 85.50 90.30
10 LUMN 7.995 6/1/2036 8.00% 06/01/36 -5.15% 106.18 111.94

Avg Industry Price

Displays the HY Corp average industry price by sector between 7/30/21 – 8/6/21

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 7/30/21 – 8/6/21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the HY Corps with the largest increase in quote volume for the week ending 7/30/21 vs. the week ending 8/6/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 HNDLIN 3.875 8/15/2031 144A 3.88% 08/15/31 150 258 108 72%
2 TNL 3.9 3/1/2023 3.90% 03/01/23 109 208 99 91%
3 TNL 4.625 3/1/2030 144A 4.63% 03/01/30 111 203 92 83%
4 TNL 4.25 3/1/2022 4.25% 03/01/22 111 194 83 75%
5 TNL 4.5 4/1/2027 4.50% 04/01/27 108 189 81 75%
6 OSCHAD 8.25 3/20/2025 9.63% 03/20/25 56 128 72 129%
7 CNC 5.375 8/15/2026 144A 5.38% 08/15/26 245 308 63 26%
8 CNC 5.375 6/1/2026 144A 5.38% 06/01/26 98 155 57 58%
9 MSCI 5.375 5/15/2027 144A 5.38% 05/15/27 179 236 57 32%
10 F 0 11/15/2023 0.19% 11/15/23 180 224 44 24%

Most Quoted HY Corps

Ranks the HY Corps that were quoted by the highest number of dealers between 7/30/21 – 8/6/21

RANK TRANCHE COUPON MATURITY DEALERS
1 ADT 3.5 7/15/2022 3.50% 07/15/22 41
2 TSLA 5.3 8/15/2025 144A 5.30% 08/15/25 40
3 X 6.875 8/15/2025 6.88% 08/15/25 39
4 SIRI 4.625 7/15/2024 144A 4.63% 07/15/24 39
5 SIRI 3.875 8/1/2022 144A 3.88% 08/01/22 38
6 CNC 5.375 8/15/2026 144A 5.38% 08/15/26 37
7 CHTR 5.75 2/15/2026 5.75% 02/15/26 37
8 URI 5.875 9/15/2026 5.88% 09/15/26 36
9 SIRI 5.375 7/15/2026 5.38% 07/15/26 36
10 AAL 5 6/1/2022 144A 5.00% 06/01/22 35

Bid-Offer Spread by Industry

Displays the HY Corp average bid-offer spread by industry between 7/30/21 – 8/6/21

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 7/30/21 – 8/6/21

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