High Yield Corporate Bond Market Summary – Week Ending 6/25/21
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High Yield Corporate Bond Market Summary: Week Ending 6/25/21
SMLP 9.5 PERP increased 9.9% from $66.17 to $72.72 last week after the company raised it’s 2021 EBITDA guidance 6% and indicated that net debt declined by $26 million over the past quarter. AMC 5.875 11/15/2026 decreased 4.0% from $80.49 to $77.24 last week as momentum slows and retail traders fight to bring AMC and other troubled companies back to life. The automotive industry was among one of the top performing industries last week up 0.15% despite rising raw material costs for production.
Top 10 Winners
Showcases the top 10 HY Corp “winners” based on the largest bid price increases between 6/18/21 – 6/25/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | SMLP 9.5 PERP | 9.50% | 11/14/99 | 9.90% | 72.72 | 66.17 |
| 2 | MONTE 10.5 7/23/2029 | 10.50% | 07/23/29 | 8.72% | 113.61 | 104.50 |
| 3 | AERMEX 7 2/5/2025 REGS | 7.00% | 02/05/25 | 7.35% | 79.02 | 73.61 |
| 4 | CDRSM 7.625 11/1/2021 | 11.63% | 11/01/23 | 6.82% | 72.47 | 67.84 |
| 5 | FRICON 10.25 1/29/2025 REGS | 10.25% | 01/29/25 | 6.74% | 108.88 | 102.00 |
| 6 | UNIDAS 9 11/30/2027 | 9.00% | 11/30/27 | 6.21% | 47.79 | 45.00 |
| 7 | PROVSF 7 3/23/2023 | 7.00% | 03/23/23 | 5.45% | 93.78 | 88.94 |
| 8 | GSM 9.375 3/1/2022 REGS | 9.38% | 03/01/22 | 4.97% | 104.17 | 99.24 |
| 9 | GNW 0 11/15/2036 | 2.14% | 11/15/36 | 4.75% | 62.07 | 59.26 |
| 10 | TLN 6.5 6/1/2025 | 6.50% | 06/01/25 | 4.63% | 73.24 | 70.00 |
Top 10 Losers
Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 6/18/21 – 6/25/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | CARLTV 11.5 12/15/2026 144A | 11.50% | 12/15/26 | -8.79% | 49.44 | 54.21 |
| 2 | SRILAN 6.825 7/18/2026 | 6.83% | 07/18/26 | -7.44% | 64.71 | 69.91 |
| 3 | DSPORT 5.375 8/15/2026 144A | 5.38% | 08/15/26 | -5.84% | 65.34 | 69.39 |
| 4 | EVERRE 8.75 6/28/2025 | 8.75% | 06/28/25 | -5.14% | 68.67 | 72.39 |
| 5 | BELRUS 6.378 2/24/2031 REGS | 6.38% | 02/24/31 | -4.64% | 86.60 | 90.81 |
| 6 | ARGENT 1 7/9/2029 | 1.00% | 07/09/29 | -4.57% | 38.44 | 40.29 |
| 7 | AGUSAN 6.625 2/1/2023 | 6.63% | 02/01/23 | -4.54% | 53.60 | 56.15 |
| 8 | CHFOTN 8.6 4/8/2024 | 8.60% | 04/08/24 | -4.09% | 34.09 | 35.55 |
| 9 | CBL 5.95 12/15/2026 | 5.95% | 12/15/26 | -4.07% | 53.56 | 55.83 |
| 10 | AMC 5.875 11/15/2026 | 5.88% | 11/15/26 | -4.04% | 77.24 | 80.49 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 6/18/21 – 6/25/21 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 6/18/21 – 6/25/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 6/18/21 vs. the week ending 6/25/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | LLOYDS 3.5 PERP | 2.03% | 08/29/49 | 20 | 109 | 89 | 445% |
| 2 | GNW 7.625 9/24/2021 | 7.63% | 09/24/21 | 184 | 236 | 52 | 28% |
| 3 | ARDT 9.75 7/15/2026 144A | 9.75% | 07/15/26 | 115 | 160 | 45 | 39% |
| 4 | SIRI 4 7/15/2028 | 4.00% | 07/15/28 | 271 | 315 | 44 | 16% |
| 5 | UCGIM 7.296 4/2/2034 | 7.30% | 04/02/34 | 133 | 177 | 44 | 33% |
| 6 | NRYHLD 8 10/1/2026 144A | 8.00% | 10/01/26 | 30 | 73 | 43 | 143% |
| 7 | TSGICN 7 7/15/2026 144A | 7.00% | 07/15/26 | 60 | 101 | 41 | 68% |
| 8 | PROVSF 7 3/23/2023 | 7.00% | 03/23/23 | 147 | 185 | 38 | 26% |
| 9 | FOSUNI 4.35 5/6/2023 | 4.35% | 05/06/23 | 101 | 139 | 38 | 38% |
| 10 | EVRI 7.5 12/15/2025 144A | 7.50% | 12/15/25 | 114 | 151 | 37 | 32% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 6/18/21 – 6/25/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | X 6.875 8/15/2025 | 6.88% | 08/15/25 | 37 |
| 2 | CPE 6.25 4/15/2023 | 6.25% | 04/15/23 | 37 |
| 3 | THC 5.125 5/1/2025 | 5.13% | 05/01/25 | 36 |
| 4 | SIRI 3.875 8/1/2022 144A | 3.88% | 08/01/22 | 36 |
| 5 | BCULC 4.25 5/15/2024 | 4.25% | 05/15/24 | 35 |
| 6 | QBRCN 5 7/15/2022 | 5.00% | 07/15/22 | 35 |
| 7 | NAVI 7.25 1/25/2022 | 7.25% | 01/25/22 | 34 |
| 8 | BERY 5.125 7/15/2023 | 5.13% | 07/15/23 | 34 |
| 9 | GT 4.875 3/15/2027 | 4.88% | 03/15/27 | 34 |
| 10 | CLF 5.75 3/1/2025 | 5.75% | 03/01/25 | 33 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 6/18/21 – 6/25/21 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 6/18/21 – 6/25/21
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