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Baby Bonds
The term "baby bonds" refers to publicly traded debt instruments, that investors can buy and sell on the major stock exchanges such as the NYSE and the Nasdaq. Although issued with a specific "par value" (typically $25), these bonds may trade higher or lower following issuance, all depending on company developments and market conditions. Maturity date differs bond by bond, and coupon payments while typically quarterly, may also differ bond by bond. Credit rating and seniority in the capital structure also differ, but the typical baby bond is junior to some other debt in the capital structure such as credit facilities with a bank. The typical baby bond can also be "called" by the company at par, at some future date, so investors should take that into consideration before paying a premium to par value. As a rule of thumb generalization, lower yielding baby bonds are viewed by the market as carrying less risk, while higher yielding bonds are viewed as carrying more risk, but special situations and liquidity-driven trading are also important to watch for, when considering investing in baby bonds. This list is to be considered a starting point for further research.
• 10 High Yield Baby Bonds
• BDC Baby Bonds
The below table of baby bonds data updates nightly
| Baby Bond | Parent | Yield | |
|---|---|---|---|
| NVDS | AAA | 0.87% | |
| BDCX | AMNA | 1.13% | |
| MLPR | AMNA | 1.32% | |
| FTWO | BBLU | 1.79% | |
| HROWM | HROW | 1.82% | |
| CEFD | AMNA | 2.03% | |
| MVRL | AMNA | 2.27% | |
| BKDT | BKD | 3.71% | |
| TSL | COMB | 4.98% | |
| HTFB | HRZN | 5.10% | |
| HNNAZ | HNNA | 5.15% | |
| GAINN | GAIN | 5.21% | |
| FCRX | CCAP | 5.21% | |
| PFH | PRU | 5.29% | |
| SOJE | SO | 5.35% | |
| GAINZ | GAIN | 5.38% | |
| DTB | DTE | 5.43% | |
| OXLCZ | OXLC | 5.44% | |
| GPJA | 5.49% | ||
| DTG | DTE | 5.51% | |
| EMP | 5.59% | ||
| SOJD | SO | 5.60% | |
| OFSSH | OFS | 5.62% | |
| DTW | DTE | 5.64% | |
| SOJC | SO | 5.66% | |
| EAI | 5.71% | ||
| PRS | PRU | 5.75% | |
| NEWTZ | NEWT | 5.76% | |
| RZB | RGA | 5.76% | |
| ENJ | 5.77% | ||
| NEWTL | NEWT | 5.79% | |
| PFXNZ | PFX | 5.84% | |
| TBC | T | 5.87% | |
| DUKB | DUK | 5.88% | |
| PRH | PRU | 5.88% | |
| TBB | T | 5.89% | |
| RCC | RC | 5.96% | |
| SFB | SF | 5.96% | |
| ENO | 5.97% | ||
| CMSA | CMS | 5.98% | |
| OXSQG | OXSQ | 5.99% | |
| AEFC | 6.00% | ||
| AFGE | AFG | 6.00% | |
| ECCV | ECC | 6.01% | |
| SREA | SRE | 6.01% | |
| AFGD | AFG | 6.04% | |
| CMSD | CMS | 6.05% | |
| GECCO | GECC | 6.07% | |
| AFGC | AFG | 6.09% | |
| CMSC | CMS | 6.09% | |
| KKRS | KKR | 6.11% | |
| WHLRL | WHLR | 6.14% | |
| AQNB | AQN | 6.21% | |
| MGRD | AMG | 6.23% | |
| SAT | SAR | 6.25% | |
| RILYK | RILY | 6.26% | |
| SSSSL | SSSS | 6.26% | |
| AFGB | AFG | 6.28% | |
| AIZN | AIZ | 6.29% | |
| HCXY | HTGC | 6.32% | |
| CGABL | CG | 6.33% | |
| MGRB | AMG | 6.37% | |
| UNMA | UNM | 6.37% | |
| AAIN | AAIC | 6.38% | |
| OXSQL | OXSQ | 6.42% | |
| RCB | RC | 6.47% | |
| OXSQZ | OXSQ | 6.49% | |
| HTFC | HRZN | 6.50% | |
| MGR | AMG | 6.56% | |
| TPGXL | 6.62% | ||
| MGRE | AMG | 6.62% | |
| RILYM | RILY | 6.67% | |
| KMPB | KMPR | 6.68% | |
| HWCPZ | HWC | 6.70% | |
| RILYG | RILY | 6.72% | |
| RILYO | RILY | 6.76% | |
| GECCM | GECC | 6.77% | |
| BNH | 6.77% | ||
| ZIONL | ZION | 6.79% | |
| AQNA | AQN | 6.85% | |
| RZC | RGA | 6.90% | |
| ATLCL | ATLC | 6.92% | |
| ECCX | ECC | 6.92% | |
| AIC | AAIC | 6.94% | |
| TRINL | TRIN | 6.95% | |
| CUBB | CUBI | 6.97% | |
| SBBA | STNG | 6.97% | |
| BNJ | 7.05% | ||
| OXLCL | OXLC | 7.06% | |
| ECCW | ECC | 7.12% | |
| APOS | APO | 7.17% | |
| BIPI | 7.20% | ||
| BIPH | BIP | 7.22% | |
| AJXA | AJX | 7.26% | |
| BEPJ | 7.27% | ||
| ATHS | 7.32% | ||
| TFSA | 7.37% | ||
| ATCOL | 7.38% | ||
| ARGD | ARGO | 7.38% | |
| BEPI | 7.40% | ||
| BEPH | 7.45% | ||
| ASBA | ASB | 7.47% | |
| RWAYL | RWAY | 7.50% | |
| NSS | 7.55% | ||
| CSWCZ | CSWC | 7.60% | |
| FGN | FG | 7.64% | |
| GLADZ | GLAD | 7.71% | |
| TRINZ | TRIN | 7.73% | |
| UZF | USM | 7.84% | |
| WHFCL | WHF | 7.85% | |
| UZE | USM | 7.86% | |
| RILYN | RILY | 7.88% | |
| GAINL | GAIN | 7.91% | |
| MFICL | MFIC | 7.91% | |
| RWAYZ | RWAY | 7.97% | |
| NEWTI | NEWT | 8.00% | |
| SAJ | SAR | 8.00% | |
| CGBDL | CGBD | 8.01% | |
| NMFCZ | NMFC | 8.02% | |
| SAY | SAR | 8.03% | |
| RILYZ | RILY | 8.08% | |
| UZD | USM | 8.24% | |
| GEGGL | GEG | 8.26% | |
| PMTU | PMT | 8.36% | |
| SAZ | SAR | 8.37% | |
| RILYT | RILY | 8.43% | |
| GECCI | GECC | 8.60% | |
| GECCZ | GECC | 8.66% | |
| MFAN | MFA | 8.67% | |
| HROWL | HROW | 8.78% | |
| METCL | METC | 8.93% | |
| RWTN | RWT | 8.93% | |
| MFAO | MFA | 8.97% | |
| SWKHL | SWKH | 9.01% | |
| MITN | MITT | 9.26% | |
| ATLCZ | ATLC | 9.50% | |
| ABLLL | ABL | 9.70% | |
| SNCRL | SNCR | 9.97% | |
| MHLA | MHLD | 10.10% | |
| DHCNI | DHC | 10.59% | |
| SPKY | 10.80% | ||
| DHCNL | DHC | 10.82% | |
| MHNC | MHLD | 10.95% | |
| BWNB | BW | 11.38% | |
| ADAG | 11.66% | ||
| see below | see below | 11.67% | |
| see below | see below | 12.20% | |
| see below | see below | 12.58% | |
| see below | see below | 12.76% | |
| see below | see below | 14.38% | |
| see below | see below | 16.56% | |
| see below | see below | 17.05% | |
| see below | see below | 19.80% | |
| see below | see below | 22.24% | |
| see below | see below | 26.36% | |
For the 10 highest yielding
baby bonds,
see:
10 High Yield Baby Bonds
For a specialized list of BDC Baby Bonds, see:
BDC Baby Bonds
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