Corporates

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High Yield Corporate Bond Market Summary:
Week Ending 9/25/20

Our newsletter presents key trends derived from observable High Yield 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 9/18/20 – 9/25/20

RANK NAME COUPON MATURITY CHANGE PX PX-1W
1 GARSRL 5.125 10/15/2026 REGS 5.13% 10/15/26 10.07% 93.42 84.88
2 PRTY 0 7/15/2025 144A 5.75% 07/15/25 8.91% 74.33 68.25
3 HOV 10 11/15/2025 144A 10.00% 11/15/25 8.74% 79.66 73.25
4 TFM 9.75 5/1/2023 9.75% 05/01/23 4.74% 89.67 85.62
5 YNDX 0.75 3/3/2025 0.75% 03/03/25 4.72% 124.35 118.74
6 RRD 6.625 4/15/2029 6.63% 04/15/29 4.46% 85.12 81.48
7 AMCEST 5.94 1/15/2053 5.94% 01/15/53 3.48% 136.79 132.18
8 TWTR 0.25 6/15/2024 0.25% 06/15/24 3.12% 109.22 105.91
9 NOLSP 8 1/15/2024 8.00% 01/15/24 2.65% 82.12 80.00
10 KPLDSP 3.9 11/7/2024 3.90% 11/07/24 2.44% 103.47 101.00

Top 10 Losers

Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 9/18/20 – 9/25/20

RANK NAME COUPON MATURITY CHANGE PX PX-1W
1 OAS 6.875 3/15/2022 6.88% 03/15/22 -39.17% 14.26 23.45
2 BUENOS 4 5/15/2035 4.00% 05/15/35 -22.57% 37.01 47.80
3 AMC 6.125 5/15/2027 6.13% 05/15/27 -18.91% 22.43 27.65
4 NBR 0.75 1/15/2024 0.75% 01/15/24 -17.74% 19.91 24.20
5 CLVS 4.5 8/1/2024 4.50% 08/01/24 -15.01% 92.97 109.39
6 EVERRE 7.5 6/28/2023 7.50% 06/28/23 -15.01% 72.64 85.47
7 RIG 7.5 1/15/2026 144A 7.50% 01/15/26 -14.03% 21.73 25.28
8 AAL 3.75 3/1/2025 144A 3.75% 03/01/25 -11.99% 46.92 53.31
9 LPI 10.125 1/15/2028 10.13% 01/15/28 -11.76% 56.62 64.17
10 YPFDAR 7 12/15/2047 REGS 7.00% 12/15/47 -10.56% 56.66 63.35

Avg Industry Price

Displays the HY Corp average industry price by sector between 9/18/20 – 9/25/20

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 9/18/20 – 9/25/20

Top Quote Volume Movers: This Week vs Last Week

Exhibits the HY Corps with the largest increase in quote volume for the week ending 9/18/20 vs. the week ending 9/25/20

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 ENR 4.375 3/31/2029 144A 4.38% 03/31/29 28 179 151 539%
2 CAPG 6.2 3/24/2026 6.20% 03/24/26 6 156 150 2500%
3 MAXDIY 5.875 10/1/2026 REGS 5.88% 10/01/26 33 156 123 373%
4 CEMEX 5.2 9/17/2030 REGS 5.20% 09/17/30 90 208 118 131%
5 TPHL 6.2 3/22/2026 6.20% 03/22/26 68 180 112 165%
6 SFRFP 4.125 1/15/2029 REGS 4.13% 01/15/29 72 170 98 136%
7 ZFFNGR 3 9/21/2025 3.00% 09/21/25 84 171 87 104%
8 SNFF 2 2/1/2026 REGS 2.00% 02/01/26 57 139 82 144%
9 SNFF 2.625 2/1/2029 REGS 2.63% 02/01/29 63 140 77 122%
10 AES 4.375 5/31/2030 REGS 4.38% 05/31/30 14 86 72 514%

Most Quoted HY Corps

Ranks the HY Corps that were quoted by the highest number of dealers between 9/18/20 – 9/25/20

RANK TRANCHE COUPON MATURITY DEALERS
1 THC 8.125 4/1/2022 8.13% 04/01/22 33
2 BERY 6 10/15/2022 6.00% 10/15/22 32
3 UBER 7.5 11/1/2023 144A 7.50% 11/01/23 32
4 RIG 6.8 3/15/2038 6.80% 03/15/38 32
5 CNC 4.75 5/15/2022 4.75% 05/15/22 31
6 FMCN 7.25 5/15/2022 7.25% 05/15/22 31
7 AAL 5 6/1/2022 144A 5.00% 06/01/22 31
8 AAL 11.75 7/15/2025 144A 11.75% 07/15/25 31
9 BACR 7.75 PERP 7.75% 08/14/99 31
10 CNSL 6.5 10/1/2022 6.50% 10/01/22 31

Bid-Offer Spread by Industry

Displays the HY Corp average bid-offer spread by industry between 9/18/20 – 9/25/20

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 9/18/20 – 9/25/20

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