7%+ Club — High-Coupon Income
Coupon ≥ 7% and YTW ≥ 7%, price ≥ 80, excluding distressed names.
The 7%+ Club screens for bonds with coupons and yieldstoworst of at least 7% and prices of 80 or above, targeting high income from a set of issuers spanning industrials, materials, utilities and energy. Several names trade close to par, so the yields come mainly from their coupons rather than from deep discounts. Yield dispersion is wide. BINHLD 9.625% 2027 offers a 28.68% YTW at 94.41, while DTEKUA 7% 2027, a Ukrainian utility, yields 21.81% at 85.27. OHIFLY 13% 2029 yields 18.27% at 89.04, and it is the highestrated name in the set at B. Headline yields need scrutiny before anyone treats them as income. BRIEAS 11% 2030, which is unrated, shows a 58.69% YTW, and BRASKM 8.5% 2031, rated D, shows 34.16%. Those levels point to distress or pricing anomalies, which sits awkwardly with the theme's exclusion of distressed names, so credit work should come before any allocation decision.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | BLH Escrow 1 LLC | …AA82 | 11 | 58.692 | 83.49 | 2030-01-31 | 2027-05-09 | NR | USD | 1.12BN |
| 2 | Braskem Netherlands Finance B V | …AH53 | 8.5 | 34.161 | 94.46 | 2031-01-12 | 2030-11-12 | D | USD | 850MM |
| 3 | Binghatti Sukuk SPC Ltd. | …4349 | 9.625 | 28.682 | 94.408 | 2027-02-28 | High Yield 1 | USD | 500MM | |
| 4 | Braskem Netherlands Finance B V | …AG70 | 7.25 | 23.52 | 93.79 | 2033-02-13 | 2032-11-13 | D | USD | 1BN |
| 5 | Pm General Purchaser Llc | …AA28 | 9.5 | 22.686 | 80.5 | 2028-10-01 | 2026-11-16 | CCC | USD | 650MM |
| 6 | DTEK Energy B.V. | …0521 | 7 | 21.813 | 85.2725 | 2027-12-31 | High Yield 4 | USD | 1.46BN | |
| 7 | Metinvest B.V. | …7516 | 7.65 | 20.642 | 89.75 | 2027-10-01 | 2027-07-01 | CCC+ | USD | 333MM |
| 8 | CSC Holdings, LLC | …BA38 | 11.75 | 20.006 | 85.62 | 2029-01-31 | 2026-11-16 | CCC | USD | 2.05BN |
| 9 | CSN Resources S.A. | …AL44 | 8.875 | 18.606 | 93.66 | 2030-12-05 | 2026-12-05 | High Yield 1 | USD | 700MM |
| 10 | Ohi Group SA | …AB59 | 13 | 18.271 | 89.04 | 2029-07-22 | 2026-12-06 | B | USD | 380MM |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.