Corporates
GET OUR CORPORATE MARKET SUMMARIES STRAIGHT TO YOUR INBOX. LEARN MORE
High Yield Corporate Bond Market Summary:
Week Ending 9/1/23
Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.
Forward Calendar
The following are lists of upcoming high-yield corporate bond offerings in the United States
| Issuer | Deal Information | Banks | Expected Issue Date |
| Syneos Health Inc. | $1.7B high-yield notes | GS | 3rd Quarter 2023 |
| Highpeak Energy Inc. | $575 million senior notes due 2028 | BofA | 3rd Quarter 2023 |
| Viasat Inc. | $1.6 billion senior notes | BofA | 3rd Quarter 2023 |
| Brightspeed | $1.865 billion senior secured | N/A | 3rd Quarter 2023 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 8/25/23 – 9/1/23
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
| 1 | FTLNHD 4.5 5/2/2026 | 4.50% | 05/02/26 | 65.46% | 29.39 | 17.76 | 17 |
| 2 | ROADKG 6 9/4/2025 | 6.00% | 09/04/25 | 45.04% | 42.63 | 29.39 | 17 |
| 3 | BIMLVN 7.375 5/7/2026 | 7.38% | 05/07/26 | 36.87% | 69.82 | 51.01 | 10 |
| 4 | DALWAN 11 2/13/2026 | 11.00% | 02/13/26 | 32.82% | 41.43 | 31.19 | 22 |
| 5 | FUTLAN 6 8/12/2024 | 6.00% | 08/12/24 | 30.65% | 52.07 | 39.85 | 15 |
| 6 | NWDEVL 4.8 PERP | 4.80% | NULL | 23.22% | 43.78 | 35.53 | 17 |
| 7 | YLLGSP 5.125 5/20/2026 | 5.13% | 05/20/26 | 14.24% | 63.05 | 55.19 | 20 |
| 8 | RAD 8 11/15/2026 144A | 8.00% | 11/15/26 | 12.50% | 63.45 | 56.40 | 24 |
| 9 | HPDLF 7 5/18/2024 | 7.00% | 05/18/24 | 10.88% | 77.43 | 69.84 | 12 |
| 10 | ELSALV 8.25 4/10/2032 | 8.25% | 04/10/32 | 9.95% | 77.17 | 70.19 | 18 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 8/25/23 – 9/1/23
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
| 1 | TACORA 8.25 5/15/2026 144A | 8.25% | 05/15/26 | -15.60% | 63.12 | 74.79 | 10 |
| 2 | VEDLN 6.125 8/9/2024 REGS | 6.13% | 08/09/24 | -12.67% | 60.73 | 69.54 | 25 |
| 3 | GABON 6.95 6/16/2025 REGS | 6.95% | 06/16/25 | -8.68% | 84.99 | 93.06 | 15 |
| 4 | LUMN 4.5 1/15/2029 144A | 4.50% | 01/15/29 | -8.04% | 32.92 | 35.80 | 21 |
| 5 | ECUA 6 7/31/2030 144A | 6.00% | 07/31/30 | -4.82% | 47.47 | 49.88 | 19 |
| 6 | CSOLNO 6 2/3/2027 REGS | 6.00% | 02/03/27 | -4.59% | 68.37 | 71.67 | 14 |
| 7 | PKSTAN 7.875 3/31/2036 | 7.88% | 03/31/36 | -4.56% | 46.55 | 48.78 | 21 |
| 8 | EGYPT 5.875 2/16/2031 REGS | 5.88% | 02/16/31 | -4.15% | 54.52 | 56.88 | 20 |
| 9 | IDEABB 6.375 7/30/2026 REGS | 6.38% | 07/30/26 | -3.98% | 60.41 | 62.91 | 16 |
| 10 | MAGBOS FLT 4/2/2024 | 11.39% | 04/02/24 | -3.87% | 87.19 | 90.70 | 2 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 8/25/23 – 9/1/23
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Sentiment
Reveals the percent of HY Corps increasing in price (advancers) vs. HY Corps decreasing in price (decliners) between 8/25/23 – 9/1/23
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 8/25/23 vs. the week ending 9/1/23
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | WBD 4.054 3/15/2029 | 4.05% | 03/15/29 | 104 | 177 | 73 | 70% |
| 2 | JBSSBZ 6.5 12/1/2052 | 6.50% | 12/01/52 | 61 | 131 | 70 | 115% |
| 3 | NWDEVL 4.125 PERP | 4.13% | NULL | 131 | 177 | 46 | 35% |
| 4 | NWDEVL 4.5 5/19/2030 | 4.50% | 05/19/30 | 130 | 172 | 42 | 32% |
| 5 | NWDEVL 4.125 7/18/2029 | 4.13% | 07/18/29 | 145 | 187 | 42 | 29% |
| 6 | OTFINC 3.75 6/17/2026 | 3.75% | 06/17/26 | 64 | 105 | 41 | 64% |
| 7 | SUMMPL 9 10/15/2026 144A | 9.00% | 10/15/26 | 196 | 236 | 40 | 20% |
| 8 | NWDEVL 4.8 PERP | 4.80% | NULL | 131 | 169 | 38 | 29% |
| 9 | HWM 5.9 2/1/2027 | 5.90% | 02/01/27 | 191 | 226 | 35 | 18% |
| 10 | NWDEVL 6.25 PERP | 6.25% | NULL | 129 | 162 | 33 | 26% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 8/25/23 – 9/1/23
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | WYNMAC 5.125 12/15/2029 144A | 5.13% | 12/15/29 | 34 |
| 2 | ARGENT 0.75 7/9/2030 | 0.75% | 07/09/30 | 33 |
| 3 | ARGENT 3.625 7/9/2035 | 3.63% | 07/09/35 | 33 |
| 4 | ARGENT 3.5 7/9/2041 | 3.50% | 07/09/41 | 33 |
| 5 | ARGENT 1 7/9/2029 | 1.00% | 07/09/29 | 33 |
| 6 | WYNMAC 4.875 10/1/2024 144A | 4.88% | 10/01/24 | 33 |
| 7 | WYNMAC 5.5 1/15/2026 144A | 5.50% | 01/15/26 | 33 |
| 8 | TDG 6.375 6/15/2026 | 6.38% | 06/15/26 | 32 |
| 9 | WYNMAC 5.5 10/1/2027 144A | 5.50% | 10/01/27 | 32 |
| 10 | WYNMAC 5.625 8/26/2028 144A | 5.63% | 08/26/28 | 32 |
Bid-Offer Spread by Industry
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 8/25/23 – 9/1/23
Stay up-to-date with weekly summaries.
