Corporates

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High Yield Corporate Bond Market Summary:
Week Ending 11/10/23

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
Veritiv Corp. $600MM high yield notes GS Q4 2023
Brightspeed $1.865B senior secured N/A Q4 2023

Top 10 Performers

Showcases the top 10 HY Corp performers based on the largest bid price increases between 11/3/23 – 11/10/23

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W DEALERS
1 QVCN 4.375 9/1/2028 4.38% 09/01/28 26.72% 64.42 50.83 22
2 QVCN 4.75 2/15/2027 4.75% 02/15/27 20.38% 70.83 58.84 22
3 QVCN 5.45 8/15/2034 5.45% 08/15/34 15.13% 51.59 44.81 22
4 HOUS 7 4/15/2030 144A 7.00% 04/15/30 14.70% 82.92 72.29 21
5 CPDEV 5.75 PERP 5.75% NULL 13.73% 84.50 74.30 11
6 LNDPT 6.125 4/1/2028 144A 6.13% 04/01/28 13.16% 62.12 54.90 19
7 AIMEGR 6.5 10/1/2025 144A 6.50% 10/01/25 12.82% 71.63 63.49 16
8 LOGM 5.5 9/1/2027 144A 5.50% 09/01/27 11.60% 59.17 53.02 17
9 RDHGCL 7.8 3/20/2024 7.80% 03/20/24 10.53% 55.49 50.20 11
10 PBI 7.25 3/15/2029 144A 7.25% 03/15/29 10.37% 82.81 75.03 16

Bottom 10 Performers

Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 11/3/23 – 11/10/23

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W DEALERS
1 QWECOM 6.875 7/15/2028 6.88% 07/15/28 -20.39% 36.94 46.41 6
2 ISPIM 5.875 PERP 5.88% NULL -14.71% 81.47 95.52 21
3 MRGBNK FLT 8/28/2029 10.08% 08/28/29 -13.86% 48.69 56.53 2
4 LVLT 3.625 1/15/2029 144A 3.63% 01/15/29 -11.55% 35.78 40.46 24
5 DISH 7.75 7/1/2026 7.75% 07/01/26 -11.43% 60.24 68.02 23
6 EAF 9.875 12/15/2028 144A 9.88% 12/15/28 -10.96% 79.11 88.85 8
7 ARDFIN 5 6/30/2027 REGS 5.00% 06/30/27 -10.62% 50.85 56.89 19
8 PBBGR 8.474 PERP 8.47% NULL -9.80% 63.44 70.33 17
9 ECUA 6 7/31/2030 REGS 6.16% 07/31/30 -9.44% 45.96 50.75 23
10 GRAANU 4.625 10/15/2026 REGS 4.63% 10/15/26 -9.26% 63.48 69.96 19

Avg Industry Price

Displays the HY Corp average industry price by sector between 11/3/23 – 11/10/23

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 11/3/23 – 11/10/23

Top Quote Volume Movers: This Week vs Last Week

Exhibits the HY Corps with the largest increase in quote volume for the week ending 11/3/23 vs. the week ending 11/10/23

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 MEDCIJ 8.96 4/27/2029 REGS 8.96% 04/27/29 52 147 95 183%
2 ISPIM 5.875 PERP 5.88% NULL 70 160 90 129%
3 ECUA 6 7/31/2030 REGS 6.16% 07/31/30 75 157 82 109%
4 CIVI 8.375 7/1/2028 144A 8.38% 07/01/28 161 237 76 47%
5 F 6.95 3/6/2026 6.95% 03/06/26 208 281 73 35%
6 F 2.9 2/16/2028 2.90% 02/16/28 183 247 64 35%
7 F 5.291 12/8/2046 5.29% 12/08/46 280 344 64 23%
8 F 6.8 5/12/2028 6.80% 05/12/28 335 396 61 18%
9 MBGGR 5.375 8/1/2025 144A 5.38% 08/01/25 156 215 59 38%
10 F 7.35 3/6/2030 7.35% 03/06/30 328 385 57 17%

Most Quoted HY Corps

Ranks the HY Corps that were quoted by the highest number of dealers between 11/3/23 – 11/10/23

RANK TRANCHE COUPON MATURITY DEALERS
1 F 7.35 11/4/2027 7.35% 11/04/27 40
2 F 6.1 8/19/2032 6.10% 08/19/32 39
3 F 6.8 5/12/2028 6.80% 05/12/28 39
4 F 5.113 5/3/2029 5.11% 05/03/29 39
5 F 3.25 2/12/2032 3.25% 02/12/32 39
6 F 3.375 11/13/2025 3.38% 11/13/25 38
7 F 5.125 6/16/2025 5.13% 06/16/25 38
8 F 6.95 6/10/2026 6.95% 06/10/26 37
9 F 7.35 3/6/2030 7.35% 03/06/30 37
10 F 4.125 8/17/2027 4.13% 08/17/27 37

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 11/3/23 – 11/10/23

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