7%+ Club — High-Coupon Income
Coupon ≥ 7% and YTW ≥ 7%, price ≥ 80, excluding distressed names.
The "7%+ Club" screening captures highyielding, dollardenominated corporate credit offering absolute yields well north of the broader highyield average, providing substantial cashflow generation without relying on distressedpriced debt (with all qualifying names trading at or above an 80 cash price). This cohort is heavily populated by stressed and distressedadjacent credits across US technology, communications, and basic materials, alongside selective emerging market exposures, creating extreme dispersion where doubledigit yields like XRX at 38.9% and SFLY at 38.9% reflect aggressive market skepticism regarding nearterm operational turnarounds. While lowerbeta names in the screen—such as Ukrainian utility DTEKUA at 21.2% YTW and regional basic materials producers—offer more defensive entry points, professional fixedincome allocators must weigh these elevated yields against severe credit risk, sparse ratings coverage, and binary default outcomes embedded across the topranked tranches.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | BLH Escrow 1 LLC | …AA82 | 11 | 58.692 | 83.39 | 2030-01-31 | 2027-05-09 | NR | USD | 1.12BN |
| 2 | Xerox Corp. | …AQ35 | 13.5 | 38.923 | 93.54 | 2031-04-15 | 2028-04-15 | CCC | USD | 494MM |
| 3 | Shutterfly LLC | …AA08 | 11 | 38.913 | 92.2 | 2027-10-01 | High Yield 3 | USD | 300MM | |
| 4 | Braskem Netherlands Finance B V | …AH53 | 8.5 | 34.161 | 94.43 | 2031-01-12 | 2030-11-12 | D | USD | 850MM |
| 5 | Metinvest B.V. | …7516 | 7.65 | 25.864 | 85.75 | 2027-10-01 | 2027-07-01 | CCC+ | USD | 333MM |
| 6 | CSC Holdings, LLC | …BA38 | 11.75 | 23.596 | 99.53 | 2029-01-31 | 2026-11-05 | CCC | USD | 2.05BN |
| 7 | Braskem Netherlands Finance B V | …AG70 | 7.25 | 23.52 | 93.77 | 2033-02-13 | 2032-11-13 | D | USD | 1BN |
| 8 | Guitar Center, Inc. | …AS81 | 12 | 22.832 | 81.875 | 2029-01-15 | 2027-02-15 | High Yield 3 | USD | 574MM |
| 9 | CSC Holdings, LLC | …AZ97 | 11.25 | 21.669 | 99.56 | 2028-05-15 | 2026-11-05 | CCC | USD | 1BN |
| 10 | DTEK Energy B.V. | …0521 | 7 | 21.212 | 85.5442857 | 2027-12-31 | High Yield 4 | USD | 1.46BN |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.