Select High-Yield New Issue Performance

May 7, 2012

The liquidity and aftermarket performance of the high yield market continues to be very strong.  Larger capitalization new issues continue to perform well. The search for yield continues to result in appreciation in the secondary market for new issues with strong credit statistics in industries with positive overall outlook.

Select new issue performance is highlighted below:

High Yield Coupon Maturity Issue Price Rating Price 5/7/12 Issue Size (MM’s) Issue Date
Samson Oil & Gas (SAIVST)  9.75% 2/15/2020 100 B1/B 105.375 $2,250 2/3/2012
Taminco (TAMGCC) 9.75% 3/31/2020 100 Caa1/B- 106 $400 1/20/2012
El Paso NG (EPENEG) 6.875% 5/1/2019 100 Ba3/BB- 106 $750 4/10/2012
El Paso NG (EPENEG) 9.375% 5/1/2020 100 B2/B 107 $2,000 4/10/2012
Petrobakken (PBNCN) 8.625% 2/1/2020 99.5 Caa1/CCC+ 105 $900 1/25/2012
Laredo Petroleum (LPI) 7.375% 5/1/2022 100 B3/B- 104 $500 4/24/2012
Hexion (HXN) 6.625% 4/15/2020 100 Ba3/B- 106 $450 3/5/2012
Covanta Holding Corp (CVA) 6.375% 10/1/2022 100 Ba3/B+ 104.5 $400 3/8/2012
HD Supply Inc. (HDSUPP) 11.00% 4/15/2012 100 Caa1/CCC+ 106.125 $675 4/5/2012