Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 9/3/21
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 8/27/21 – 9/3/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | NNA 8.125 11/15/2021 | 8.13% | 11/15/21 | 24.15% | 100.18 | 80.69 |
| 2 | TLN 6 12/15/2036 | 6.00% | 12/15/36 | 17.24% | 36.36 | 31.01 |
| 3 | DSPORT 6.625 8/15/2027 144A | 6.63% | 08/15/27 | 11.27% | 43.41 | 39.01 |
| 4 | ASRIIJ 6.25 11/2/2025 | 6.25% | 11/02/25 | 11.15% | 79.31 | 71.35 |
| 5 | CBL 5.95 12/15/2026 | 5.95% | 12/15/26 | 8.47% | 66.53 | 61.34 |
| 6 | RIG 6.8 3/15/2038 | 6.80% | 03/15/38 | 6.69% | 56.10 | 52.59 |
| 7 | LPI 7.75 7/31/2029 144A | 7.75% | 07/31/29 | 6.15% | 97.91 | 92.23 |
| 8 | RRD 8.82 4/15/2031 | 8.82% | 04/15/31 | 6.14% | 121.20 | 114.18 |
| 9 | ARGENT 0.5 7/9/2029 | 0.50% | 07/09/29 | 6.01% | 39.51 | 37.27 |
| 10 | EHOUSE 7.6 6/10/2023 | 7.60% | 06/10/23 | 5.78% | 90.28 | 85.34 |
Top 10 Losers
Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 8/27/21 – 9/3/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | EVERRE 7.5 6/28/2023 | 7.50% | 06/28/23 | -31.29% | 25.83 | 37.59 |
| 2 | TIANHL 11.5 10/24/2022 | 11.50% | 10/24/22 | -23.09% | 26.93 | 35.01 |
| 3 | ENDP 5.375 1/15/2023 | 5.38% | 01/15/23 | -21.43% | 63.37 | 80.65 |
| 4 | GZRFPR 11.625 9/3/2024 | 11.63% | 09/03/24 | -19.79% | 58.99 | 73.55 |
| 5 | FTHDGR 11.75 4/17/2022 | 11.75% | 04/17/22 | -18.35% | 63.44 | 77.70 |
| 6 | CENCHI 7.5 7/14/2025 | 7.50% | 07/14/25 | -11.82% | 67.34 | 76.36 |
| 7 | RISSUN 8.95 1/18/2022 | 8.95% | 01/18/22 | -11.36% | 58.48 | 65.98 |
| 8 | WAIR 9 11/15/2026 144A | 9.00% | 11/15/26 | -8.78% | 89.45 | 98.06 |
| 9 | PBFENE 6 2/15/2028 | 6.00% | 02/15/28 | -7.68% | 60.52 | 65.56 |
| 10 | SPRPED 8 6/30/2027 | 8.00% | 06/30/27 | -5.66% | 95.01 | 100.71 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 8/27/21 – 9/3/21
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 8/27/21 – 9/3/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 8/27/21 vs. the week ending 9/3/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | CURO 7.5 8/1/2028 144A | 7.50% | 08/01/28 | 137 | 216 | 79 | 58% |
| 2 | PIZEXP 6.75 7/15/2026 REGS | 6.75% | 07/15/26 | 89 | 148 | 59 | 66% |
| 3 | TITIM 6.375 11/15/2033 | 6.38% | 11/15/33 | 162 | 201 | 39 | 24% |
| 4 | SYLVAM 7 9/1/2029 144A | 7.00% | 09/01/29 | 112 | 149 | 37 | 33% |
| 5 | AUTODI 0 7/20/2027 REGS | 3.45% | 07/20/27 | 40 | 76 | 36 | 90% |
| 6 | TITIM 7.721 6/4/2038 | 7.72% | 06/04/38 | 156 | 188 | 32 | 21% |
| 7 | AVALCB 4.75 9/26/2022 | 4.75% | 09/26/22 | 193 | 225 | 32 | 17% |
| 8 | S 7.875 9/15/2023 | 7.88% | 09/15/23 | 258 | 289 | 31 | 12% |
| 9 | S 7.625 2/15/2025 | 7.63% | 02/15/25 | 220 | 250 | 30 | 14% |
| 10 | NM 11.25 8/15/2022 REGS | 11.25% | 08/15/22 | 92 | 122 | 30 | 33% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 8/27/21 – 9/3/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | CHTR 5.75 2/15/2026 | 5.75% | 02/15/26 | 41 |
| 2 | AXL 6.25 4/1/2025 | 6.25% | 04/01/25 | 41 |
| 3 | SIRI 5.375 7/15/2026 | 5.38% | 07/15/26 | 39 |
| 4 | TEP 5.5 9/15/2024 | 5.50% | 09/15/24 | 38 |
| 5 | URI 5.875 9/15/2026 | 5.88% | 09/15/26 | 38 |
| 6 | CAR 5.25 3/15/2025 | 5.25% | 03/15/25 | 37 |
| 7 | MSCI 5.375 5/15/2027 144A | 5.38% | 05/15/27 | 36 |
| 8 | F 2.7 8/10/2026 | 2.70% | 08/10/26 | 35 |
| 9 | BBDBCN 6 10/15/2022 | 6.00% | 10/15/22 | 35 |
| 10 | NRG 7.25 5/15/2026 | 7.25% | 05/15/26 | 35 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 8/27/21 – 9/3/21
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 8/27/21 – 9/3/21
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