7%+ Club — High-Coupon Income

Coupon ≥ 7% and YTW ≥ 7%, price ≥ 80, excluding distressed names.

The 7%+ Club highlights highcoupon opportunities meeting strict cashflow thresholds, capturing elevated baseline yields with a price floor of 80 to screen out deepdiscount distress. Institutional portfolios navigating current volatility can leverage doubledigit yields like Xerox's 13.5% print (YTW 38.92%) and Shutterfly's 11% notes (YTW 38.91%) to secure aggressive immediate income. Yield profiles within this cohort diverge sharply from vanilla credit, driven by idiosyncratic credit risk, cyclical headwinds, and specific sector pressures across industrials, tech, and communications. This dispersion creates compelling entry points for relativevalue selectors comfortable underwriting complex credits, such as Atlas Corp's (AMBIBZ) 9.875% maturity offering a staggering 68.04% YTW. While headline yields are undeniably attractive—ranging from Metinvest's 7.65% UA exposure to Brightspeed's (CSCHLD) 11.75% 2029 maturity at 23.60% YTW—rigorous fundamental analysis remains paramount. Professional investors must balance these exceptional income streams against inherent credit vulnerabilities reflected in CCC and distressed ratings across several toptier constituents.

Results are limited to USD bonds with an amount outstanding of at least USD 200MM.