Credit spreads and bond's value

As I was solving the mean-reversion problem and credit spreads [1], I realized that the trick in that question was higher credit spread implies cheaper bond. Is the rationale that the issuer is offering high spreads (compared to treasury) to make it attractive to the investor? Junk bonds typically offer high yields. So higher the credit spread, “junkier” the bond and therefore cheaper the bond?

Please correct me if I got it wrong.

  1. Discussed here

Issuers do not offer spreads. The issuer offers a coupon (which can be anything), and the market determines the spread.