7%+ Club — High-Coupon Income
Coupon ≥ 7% and YTW ≥ 7%, price ≥ 80, excluding distressed names.
The 7%+ Club highlights highcoupon opportunities trading above an 80 cash price that offer exceptional doubledigit yields to worst amid ongoing macroeconomic volatility. This universe rewards credit selection by balancing substantial current income against the heightened default risks priced into distressed and CCCrated tiers. Frontrunning the screen, issuers like Briear (BRIEAS 11% 2030) and Xerox (XRX 13.5% 2031) showcase staggering YTWs of 58.69% and 38.92% respectively, reflecting deep distress and operational headwinds in the US industrial and technology sectors. International and commoditylinked credits also feature prominently, with Braskem (BRASKM 8.5% 2031) and Metinvest (METINV 7.65% 2027) delivering compelling yields of 34.16% and 24.59%, offering attractive riskadjusted entry points for portfolio managers targeting emerging market and cyclical turnaround value.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | BLH Escrow 1 LLC | …AA82 | 11 | 58.692 | 83.42 | 2030-01-31 | 2027-05-09 | NR | USD | 1.12BN |
| 2 | Xerox Corp. | …AQ35 | 13.5 | 38.923 | 93.55 | 2031-04-15 | 2028-04-15 | CCC | USD | 494MM |
| 3 | Braskem Netherlands Finance B V | …AH53 | 8.5 | 34.161 | 94.44 | 2031-01-12 | 2030-11-12 | D | USD | 850MM |
| 4 | Metinvest B.V. | …7516 | 7.65 | 24.585 | 86.75 | 2027-10-01 | 2027-07-01 | CCC+ | USD | 333MM |
| 5 | Braskem Netherlands Finance B V | …AG70 | 7.25 | 23.52 | 93.77 | 2033-02-13 | 2032-11-13 | D | USD | 1BN |
| 6 | Guitar Center, Inc. | …AM16 | 12 | 23.053 | 81.625 | 2029-01-15 | 2027-02-15 | High Yield 3 | USD | 574MM |
| 7 | Guitar Center, Inc. | …AS81 | 12 | 23.053 | 81.625 | 2029-01-15 | 2027-02-15 | High Yield 3 | USD | 574MM |
| 8 | Binghatti Sukuk SPC Ltd. | …4349 | 9.625 | 22.982 | 95.81 | 2027-02-28 | High Yield 1 | USD | 500MM | |
| 9 | Pm General Purchaser Llc | …AA28 | 9.5 | 22.556 | 80.52 | 2028-10-01 | 2026-11-09 | CCC | USD | 650MM |
| 10 | Staples, Inc. | …AH52 | 12.75 | 21.271 | 80.81 | 2030-01-15 | 2027-06-15 | CCC | USD | 826MM |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.