7%+ Club — High-Coupon Income
Coupon ≥ 7% and YTW ≥ 7%, price ≥ 80, excluding distressed names.
The 7%+ Club screens for bonds with both a coupon and yieldtoworst of at least 7%, priced at 80 or above, and excluding distressed names. The ten qualifiers span industrials, materials, utilities, energy and communications across the US, Brazil, Ukraine and Luxembourg. BRIEAS leads on headline income, with an 11% coupon and 58.7% YTW at 83.57, though its unrated status calls for close scrutiny. Further down, CSNABZ offers an 18.6% YTW at 93.68 on an 8.875% coupon, and DTEKUA yields 20.8% at 86.5 from a Ukrainian utility. OHIFLY is the highestrated name in the set, a Brated Luxembourg energy issuer paying a 13% coupon with an 18.6% YTW at 88.5. Against CCCrated AMGENE at 22.7% YTW, the group highlights the core tradeoff: lower credit quality is compensated with higher yield, and the spread between the two is what this theme is built to examine.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | BLH Escrow 1 LLC | …AA82 | 11 | 58.692 | 83.57 | 2030-01-31 | 2027-05-09 | NR | USD | 1.12BN |
| 2 | Braskem Netherlands Finance B V | …AH53 | 8.5 | 34.161 | 94.48 | 2031-01-12 | 2030-11-12 | D | USD | 850MM |
| 3 | Braskem Netherlands Finance B V | …AG70 | 7.25 | 23.52 | 93.8 | 2033-02-13 | 2032-11-13 | D | USD | 1BN |
| 4 | Pm General Purchaser Llc | …AA28 | 9.5 | 22.686 | 80.67 | 2028-10-01 | 2026-11-23 | CCC | USD | 650MM |
| 5 | Binghatti Sukuk SPC Ltd. | …4349 | 9.625 | 21.972 | 96.495 | 2027-02-28 | High Yield 1 | USD | 500MM | |
| 6 | Metinvest B.V. | …7516 | 7.65 | 21.406 | 89.5 | 2027-10-01 | 2027-07-01 | CCC+ | USD | 333MM |
| 7 | DTEK Energy B.V. | …0521 | 7 | 20.784 | 86.5 | 2027-12-31 | High Yield 4 | USD | 1.46BN | |
| 8 | CSC Holdings, LLC | …BA38 | 11.75 | 20.006 | 85.72 | 2029-01-31 | 2026-11-23 | CCC | USD | 2.05BN |
| 9 | CSN Resources S.A. | …AL44 | 8.875 | 18.606 | 93.68 | 2030-12-05 | 2026-12-05 | High Yield 1 | USD | 700MM |
| 10 | Ohi Group SA | …AB59 | 13 | 18.588 | 88.5 | 2029-07-22 | 2026-12-13 | B | USD | 380MM |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.