Corporates
August 2022

High Yield Corporate Bond Market Summary – Week Ending 8/5/22

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High Yield Corporate Bond Market Summary: Week Ending 8/5/22

Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.

New Issues

HY Corp bond new issues for the week ending 8/5/22, issue size of $50 million and larger

ISSUECOLLATERAL TYPEAMT ISSUED (MM)PX AT ISSUANCEYIELD AT ISSUANCE (%)SPREAD AT ISSUE
Avient Corp (USD) 7.125% 8/1/2030 N/A 725 100 7.13 436

Forward Calendar

The following are lists of upcoming high-yield corporate bond offerings in the United States

ISSUERDEAL INFORMATIONBANKSEXPECTED ISSUE DATE
Tenneco Inc. $3 billion high-yield notes – $2 billion secured notes and $1 billion unsecured notes N/A Month of July

Top 10 Winners

Showcases the top 10 HY Corp “winners” based on the largest bid price increases between 7/29/22 – 8/5/22

RANKBOND NAMECOUPONMATURITYCHANGEPXPX-1W
1 KWGPRO 6 9/15/2022 6.00% 09/15/22 36.17% 37.73 27.71
2 STCITY 5 1/15/2029 144A 5.00% 01/15/29 27.14% 55.66 43.78
3 RIG 7.35 12/15/2041 7.35% 12/15/41 26.12% 58.47 46.37
4 TLN 6.5 9/15/2024 144A 6.50% 09/15/24 24.97% 73.35 58.70
5 PKSTAN 8.875 4/8/2051 REGS 8.88% 04/08/51 15.66% 53.84 46.55
6 DBD 8.5 4/15/2024 8.50% 04/15/24 14.25% 55.16 48.28
7 COIN 3.625 10/1/2031 144A 3.63% 10/01/31 13.98% 67.27 59.02
8 KWGPRO 5.2 9/21/2022 5.20% 09/21/22 11.97% 29.24 26.12
9 PAKWNP 7.5 6/4/2031 7.50% 06/04/31 11.26% 47.79 42.95
10 SJMHOL 4.85 1/27/2028 4.85% 01/27/28 11.01% 65.95 59.41

Top 10 Losers

Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 7/29/22 – 8/5/22

RANKBOND NAMECOUPONMATURITYCHANGEPXPX-1W
1 ZHLGHD 8.5 5/19/2022 8.50% 05/19/22 -53.22% 30.41 65.00
2 CIFIHG 5.25 5/13/2026 5.25% 05/13/26 -31.01% 25.10 36.38
3 GEMDAL 4.95 8/12/2024 4.95% 08/12/24 -26.60% 47.32 64.47
4 FUTLAN 6 8/12/2024 6.00% 08/12/24 -22.63% 34.90 45.11
5 BAHAMA 6.95 11/20/2029 6.95% 11/20/29 -15.60% 55.78 66.09
6 ELSALV 7.1246 1/20/2050 REGS 7.12% 01/20/50 -13.09% 29.12 33.50
7 CENCHI 7.5 7/14/2025 7.50% 07/14/25 -10.53% 25.16 28.12
8 ROADKG 5.9 3/5/2025 5.90% 03/05/25 -10.44% 34.18 38.16
9 DALWAN 7.25 1/29/2024 7.25% 01/29/24 -10.02% 57.34 63.73
10 CBSR 6.75 3/31/2029 144A 6.75% 03/31/29 -8.65% 44.86 49.10

Avg Industry Price

Displays the HY Corp average industry price by sector between 7/29/22 – 8/5/22 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 7/29/22 – 8/5/22

Top Quote Volume Movers: This Week vs Last Week

Exhibits the HY Corps with the largest increase in quote volume for the week ending 7/29/22 vs. the week ending 8/5/22

RANKTRANCHECOUPONMATURITYPRIOR WEEKTHIS WEEKINCREASE% INCREASE
1 NAVI 5.5 3/15/2029 5.50% 03/15/29 82 170 88 107%
2 OI 4.75 2/15/2030 144A 4.75% 02/15/30 92 178 86 93%
3 YPFDAR 8.5 3/23/2025 REGS 8.50% 03/23/25 100 182 82 82%
4 SOFTBK 3.125 1/6/2025 3.13% 01/06/25 104 183 79 76%
5 NEP 4.25 7/15/2024 144A 4.25% 07/15/24 84 151 67 80%
6 CANPCK 2.375 11/1/2027 144A 2.38% 11/01/27 10 74 64 640%
7 SGLSJ 4 11/16/2026 144A 4.00% 11/16/26 5 65 60 1200%
8 SGLSJ 4.5 11/16/2029 144A 4.50% 11/16/29 5 65 60 1200%
9 CRBG 3.9 4/5/2032 REGS 3.90% 04/05/32 30 86 56 187%
10 CRBG 4.35 4/5/2042 REGS 4.35% 04/05/42 20 76 56 280%

Most Quoted HY Corps

Ranks the HY Corps that were quoted by the highest number of dealers between 7/29/22 – 8/5/22

RANKTRANCHECOUPONMATURITYDEALERS
1 BACR 8 PERP 8.00% 03/27/99 36
2 GT 5 5/31/2026 5.00% 05/31/26 36
3 GT 4.875 3/15/2027 4.88% 03/15/27 36
4 WYNMAC 4.875 10/1/2024 REGS 4.88% 10/01/24 35
5 WYNMAC 5.5 10/1/2027 REGS 5.50% 10/01/27 35
6 WYNMAC 5.5 1/15/2026 REGS 5.50% 01/15/26 35
7 AXL 6.5 4/1/2027 6.50% 04/01/27 35
8 MPEL 4.875 6/6/2025 4.88% 06/06/25 35
9 UBS 5 PERP 5.00% 01/31/99 35
10 CSCHLD 5.25 6/1/2024 5.25% 06/01/24 35

Bid-Offer Spread by Industry

Displays the HY Corp average bid-offer spread by industry between 7/29/22 – 8/5/22 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 7/29/22 – 8/5/22


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