High Yield Corporate Bond Market Summary – Week Ending 12/2/22
GET OUR CORPORATE MARKET SUMMARIES STRAIGHT TO YOUR INBOX. LEARN MORE
High Yield Corporate Bond Market Summary: Week Ending 12/2/22
Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.
Forward Calendar
The following are lists of upcoming high-yield corporate bond offerings in the United States
| ISSUER | ISSUE INFORMATION | BROKER DEALER | EXPECTED ISSUE DATE |
|---|---|---|---|
| Tenneco Inc. | $3 billion high-yield notes – $2 billion secured notes and $1 billion unsecured notes | N/A | Week of November 7 |
| Viasat Inc. | $1.6 billion senior notes | N/A | 4th Quarter 2022 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 11/25/22 – 12/2/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | KWGPRO 5.875 11/10/2024 | 5.88% | 11/10/24 | 75.67% | 27.72 | 15.78 | 19 |
| 2 | CHINSC 7 5/2/2025 | 7.00% | 05/02/25 | 42.40% | 26.04 | 18.28 | 20 |
| 3 | FTLNHD 4.5 5/2/2026 | 4.50% | 05/02/26 | 41.19% | 59.67 | 42.26 | 17 |
| 4 | GLPSP 4.6 PERP | 4.60% | 09/29/99 | 40.10% | 50.38 | 35.96 | 12 |
| 5 | ROADKG 5.2 1/12/2026 | 5.20% | 01/12/26 | 34.29% | 55.38 | 41.24 | 17 |
| 6 | STCITY 6.5 1/15/2028 144A | 6.50% | 01/15/28 | 30.91% | 77.07 | 58.88 | 7 |
| 7 | FUTLAN 4.45 7/13/2025 | 4.45% | 07/13/25 | 30.58% | 61.17 | 46.84 | 16 |
| 8 | PKSTAN 6.875 12/5/2027 REGS | 6.88% | 12/05/27 | 28.73% | 43.46 | 33.76 | 23 |
| 9 | CSOLNO 6 2/3/2027 REGS | 6.00% | 02/03/27 | 25.29% | 69.88 | 55.77 | 11 |
| 10 | MPEL 5.75 7/21/2028 144A | 5.75% | 07/21/28 | 20.42% | 83.15 | 69.05 | 7 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 11/25/22 – 12/2/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | WHLPRO 6.5 5/15/2029 144A | 6.50% | 05/15/29 | -14.36% | 35.97 | 42.00 | 18 |
| 2 | ATALIA 6.625 5/15/2025 144A | 6.63% | 05/15/25 | -13.17% | 87.12 | 100.34 | 10 |
| 3 | BBBY 3.749 8/1/2024 | 3.75% | 08/01/24 | -11.58% | 29.79 | 33.69 | 20 |
| 4 | DLLTD 6.75 3/1/2023 | 6.75% | 03/01/23 | -11.26% | 38.96 | 43.90 | 15 |
| 5 | GIII 7.875 8/15/2025 144A | 7.88% | 08/15/25 | -11.21% | 85.99 | 96.85 | 18 |
| 6 | TLN 7 10/15/2027 | 7.00% | 10/15/27 | -8.58% | 48.83 | 53.42 | 3 |
| 7 | CS 7.25 PERP REGS | 7.25% | 09/12/99 | -8.55% | 67.99 | 74.35 | 26 |
| 8 | HEIBOS 3.625 PERP | 3.63% | 01/13/99 | -7.89% | 60.33 | 65.50 | 13 |
| 9 | LIFUNG 5.25 12/31/2049 | 5.25% | 12/31/49 | -7.06% | 45.09 | 48.52 | 5 |
| 10 | FRIGOG 6.875 2/12/2025 REGS | 6.88% | 02/12/25 | -6.99% | 34.76 | 37.37 | 15 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 11/18/22 – 11/25/22 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 11/25/22 – 12/2/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 11/25/22 vs. the week ending 12/2/22
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | IMKTA 4 6/15/2031 144A | 4.00% | 06/15/31 | 122 | 156 | 34 | 28% |
| 2 | EHICAR 7 9/21/2026 | 7.00% | 09/21/26 | 104 | 136 | 32 | 31% |
| 3 | JWN 4 3/15/2027 | 4.00% | 03/15/27 | 198 | 227 | 29 | 15% |
| 4 | FOUIHK 6.25 10/17/2020 | 6.25% | 10/17/20 | 52 | 81 | 29 | 56% |
| 5 | WBD 3.25 4/1/2023 | 3.25% | 04/01/23 | 38 | 65 | 27 | 71% |
| 6 | KORS 4 11/1/2024 144A | 4.00% | 11/01/24 | 48 | 73 | 25 | 52% |
| 7 | JINGRU 14.5 2/19/2023 | 14.50% | 02/19/23 | 78 | 103 | 25 | 32% |
| 8 | REV 6.25 8/1/2024 | 6.25% | 08/01/24 | 105 | 129 | 24 | 23% |
| 9 | SPB 3.875 3/15/2031 144A | 3.88% | 03/15/31 | 193 | 217 | 24 | 12% |
| 10 | GLPSP 4.6 PERP | 4.60% | 09/29/99 | 87 | 110 | 23 | 26% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 11/25/22 – 12/2/22
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | F 7.35 11/4/2027 | 7.35% | 11/04/27 | 36 |
| 2 | GEHC 5.905 11/22/2032 144A | 5.91% | 11/22/32 | 34 |
| 3 | GEHC 6.377 11/22/2052 144A | 6.38% | 11/22/52 | 33 |
| 4 | TWTR 5 3/1/2030 144A | 5.00% | 03/01/30 | 33 |
| 5 | COIN 3.625 10/1/2031 144A | 3.63% | 10/01/31 | 33 |
| 6 | BALL 4 11/15/2023 | 4.00% | 11/15/23 | 33 |
| 7 | SRE 6.35 11/15/2052 | 6.35% | 11/15/52 | 32 |
| 8 | BBDBCN 7.875 4/15/2027 | 7.88% | 04/15/27 | 32 |
| 9 | TIBX 6.5 3/31/2029 144A | 6.50% | 03/31/29 | 32 |
| 10 | DVA 4.625 6/1/2030 | 4.63% | 06/01/30 | 32 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 11/18/22 – 11/25/22 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 11/25/22 – 12/2/22
Stay up-to-date with weekly summaries.
Related Resources
About SOLVE
SOLVE is the leading market data platform provider for fixed-income securities, trusted by sophisticated buy-side and sell-side firms worldwide. Founded in 2011, SOLVE leverages its AI-driven technology and deep industry expertise to offer unparalleled transparency into markets, reduce risk, and save hundreds of hours across front-office workflows. With the largest real-time datasets for Securitized Products, Municipal Bonds, Corporate Bonds, Syndicated Bank Loans, Convertible Bonds, CDS, and Private Credit, SOLVE empowers clients to transform the way they bring new securities to market, trade on secondary markets, and value highly illiquid securities. Headquartered in Connecticut, with offices across the globe, SOLVE is the definitive source for market pricing in fixed-income markets.
