Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 12/29/23
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 | ISSUE INFORMATION | BROKER DEALER | EXPECTED ISSUE DATE |
| Connect Holding Ii Llc (Brightspeed) | $1.865 billion senior secured notes | 4th Quarter 2023 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 12/22/23 – 12/29/23
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | BELRUS 6.2 2/28/2030 REGS | 6.20% | 02/28/30 | 17.62% | 34.67 | 29.47 | 9 |
| 2 | HMST 3.5 1/30/2032 | 3.50% | 01/30/32 | 12.55% | 39.29 | 34.91 | 4 |
| 3 | TLRY 5.2 6/15/2027 | 5.20% | 06/15/27 | 12.00% | 113.50 | 101.34 | 5 |
| 4 | MCBRAC 7.25 6/30/2031 REGS | 7.25% | 06/30/31 | 9.86% | 78.16 | 71.15 | 19 |
| 5 | VIETNM FLT 3/13/2028 | 6.40% | 03/13/28 | 9.84% | 98.86 | 90.00 | 3 |
| 6 | HOME 7.125 5/12/2028 144A | 7.13% | 05/12/28 | 7.08% | 37.29 | 34.83 | 9 |
| 7 | LGF 5.5 4/15/2029 144A | 5.50% | 04/15/29 | 6.76% | 73.52 | 68.86 | 18 |
| 8 | COMM 4.75 9/1/2029 144A | 4.75% | 09/01/29 | 6.09% | 67.32 | 63.45 | 25 |
| 9 | TUNIS 3.28 8/9/2027 | 3.28% | 08/09/27 | 5.23% | 46.00 | 43.71 | 4 |
| 10 | CSCHLD 5.75 1/15/2030 144A | 5.75% | 01/15/30 | 4.16% | 61.31 | 58.86 | 24 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 12/22/23 – 12/29/23
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | ARDFIN 6.5 6/30/2027 REGS | 6.50% | 06/30/27 | -11.27% | 46.67 | 52.60 | 16 |
| 2 | UNIGEL 8.75 10/1/2026 REGS | 8.75% | 10/01/26 | -11.26% | 27.42 | 30.90 | 14 |
| 3 | GUAENE 10 12/30/2030 144A | 10.00% | 12/30/30 | -6.92% | 64.72 | 69.54 | 3 |
| 4 | UFS 6.75 2/15/2044 | 6.75% | 02/15/44 | -5.44% | 56.61 | 59.87 | 10 |
| 5 | CFIELD 6.625 8/1/2026 144A | 6.63% | 08/01/26 | -4.93% | 71.21 | 74.90 | 14 |
| 6 | BROPAG 8.5 9/24/2025 | 8.50% | 09/24/25 | -4.49% | 86.64 | 90.71 | 7 |
| 7 | BRASKM 5.875 1/31/2050 REGS | 5.88% | 01/31/50 | -3.68% | 67.66 | 70.25 | 24 |
| 8 | CMGMCO 8.875 12/15/2027 144A | 8.88% | 12/15/27 | -3.54% | 78.43 | 81.32 | 19 |
| 9 | VSTJET 6.375 2/1/2030 REGS | 6.38% | 02/01/30 | -2.96% | 69.90 | 72.03 | 18 |
| 10 | LECTA 0 3/1/2025 REGS | 0.00% | 03/01/25 | -2.69% | 70.35 | 72.30 | 9 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 12/22/23 – 12/29/23
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 12/22/23 – 12/29/23
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 12/22/23 vs. the week ending 12/29/23
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | CDRSM 13.625 11/30/2027 | 13.63% | 11/30/27 | 19 | 61 | 42 | 221% |
| 2 | END 12 3/2/2026 | 12.00% | 03/02/26 | 28 | 64 | 36 | 129% |
| 3 | CHTR FLT 2/1/2024 | 7.24% | 02/01/24 | 61 | 96 | 35 | 57% |
| 4 | HOUS 7 4/15/2030 144A | 7.00% | 04/15/30 | 173 | 195 | 22 | 13% |
| 5 | GCUNIV 4.125 10/1/2024 | 4.13% | 10/01/24 | 41 | 63 | 22 | 54% |
| 6 | REITDU 9.5 12/12/2024 REGS | 9.50% | 12/12/24 | 51 | 73 | 22 | 43% |
| 7 | MHPSA 6.95 4/3/2026 REGS | 6.95% | 04/03/26 | 195 | 215 | 20 | 10% |
| 8 | MHPSA 6.25 9/19/2029 REGS | 6.25% | 09/19/29 | 200 | 220 | 20 | 10% |
| 9 | DELL 3.375 12/15/2041 144A | 3.38% | 12/15/41 | 119 | 139 | 20 | 17% |
| 10 | AES 3.95 7/15/2030 144A | 3.95% | 07/15/30 | 91 | 110 | 19 | 21% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 12/22/23 – 12/29/23
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | F 5.113 5/3/2029 | 5.11% | 05/03/29 | 37 |
| 2 | F 6.8 5/12/2028 | 6.80% | 05/12/28 | 36 |
| 3 | F 5.125 6/16/2025 | 5.13% | 06/16/25 | 35 |
| 4 | F 7.35 3/6/2030 | 7.35% | 03/06/30 | 35 |
| 5 | F 3.25 2/12/2032 | 3.25% | 02/12/32 | 35 |
| 6 | F 6.1 8/19/2032 | 6.10% | 08/19/32 | 34 |
| 7 | VTLE 9.5 1/15/2025 | 9.50% | 01/15/25 | 34 |
| 8 | F 6.798 11/7/2028 | 6.80% | 11/07/28 | 34 |
| 9 | F 7.122 11/7/2033 | 7.12% | 11/07/33 | 34 |
| 10 | OMF 6.125 3/15/2024 | 6.13% | 03/15/24 | 33 |
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 12/22/23 – 12/29/23
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