October 4, 2023, Wednesday
12:00 PM – 1:00 PM CT...
Read MoreFeatured Top Idea
DINO – HF Sinclair Corporation
Action: Buy 2027 6.375% Bonds CUSIP: 435765AJ1(7.024% YTW, 5.924% iYTW)
Buy 2030 4.500% Bonds CUSIP: 023551AF1(6.932% YTW, 5.882% iYTW)...
CC – Base Case CDS 355bps, Base Case iCDS 180bps
Negative Case iCDS 312bps, 2028 5.750% Bond YTW of 9.084%, iYTW of 6.454%
Ba3 Rating from Moody’s, XO (equivalent to Baa3) Rating from Valens
Low Refinancing Need...
Read MoreMTCH – Base Case iCDS 221bps, Negative Case iCDS 295bps
2027 5.000% Bond YTW of 6.875%, iYTW of 6.895%, Ba2 Rating from Moody’s
IG4 (equivalent to Baa2) Rating from Valens
Low Refinancing Need...
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TDG – TransDigm Group Incorporated
Action: Buy 2027 7.500% Bonds, CUSIP: 893647BH9 (7.536% YTW, 6.396% iYTW)
Buy 2027 5.500% Bonds, CUSIP: 893647BL0 (7.010% YTW, 6.470% iYTW)...
FCX – Base Case CDS 153bps, Base Case iCDS 72bps,
Negative Case iCDS 105bps, 2028 4.125% Bond YTW of 6.287%, iYTW of 5.257%,
Baa3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,
Low Refinancing Need...
Read MoreQRVO – Base Case iCDS 113bps,
Negative Case iCDS 176bps, 2029 4.375% Bond YTW of 6.747%, iYTW of 5.667%,
Ba1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,
Low Refinancing Need...
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