Thank you for the excellent site. The quoted ICON bonds are priced to yield approx. 19% up from a 15.4% yield at the beginning of Februrary, a considerable deterioration. The yield at issue was 11.25%. As much as the price of the bonds seems high considering the recent financial statements, a 19% yield with prime at 5.45% suggests a default risk of some magnitude.
I haven't kept up to date on Icon's financials since bailing from NLS stock. But it's not just Icon -- the whole "high yield" bond market is selling at a very slender premium over AAA corporates. I think a lot of people are going to get their willies caught in that car-door by and by.