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High Yield Corporate Bond Market Summary:
Week Ending 1/12/24
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 |
| Brightspeed | $1.865B senior secured | N/A | Q1 2023 |
| NGL Energy Partners | $2.5 billion high-yield notes with five-year and seven-year maturities | BofA | Q1 2023 |
| Wand Newco 3 Inc. | $1.25 billion senior secured notes | BofA | Q1 2023 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 1/5/24 – 1/12/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | CPIPGR 3.75 PERP | 3.75% | NULL | 42.33% | 35.74 | 25.11 | 20 |
| 2 | HEIBOS 2.625 PERP | 2.63% | 01/26/99 | 35.68% | 49.36 | 36.38 | 20 |
| 3 | ROADKG 5.125 7/26/2026 | 5.13% | 07/26/26 | 26.45% | 30.91 | 24.44 | 21 |
| 4 | CSCHCN 9 10/9/2024 | 9.00% | 10/09/24 | 25.46% | 35.10 | 27.98 | 18 |
| 5 | SURINM 0 12/31/2050 REGS | 0.00% | 12/31/50 | 24.73% | 60.20 | 48.26 | 10 |
| 6 | BRNKGR 2.25 9/22/2026 | 2.25% | 09/22/26 | 20.77% | 40.42 | 33.47 | 16 |
| 7 | LINTA 8.5 7/15/2029 | 8.50% | 07/15/29 | 17.27% | 51.03 | 43.52 | 16 |
| 8 | ARNDTN 7.078 PERP | 7.08% | NULL | 15.51% | 52.67 | 45.60 | 18 |
| 9 | LMRTSP 6.4751 PERP | 6.48% | NULL | 14.15% | 25.28 | 22.15 | 7 |
| 10 | UKRAIN 7.375 9/25/2034 REGS | 7.38% | 09/25/34 | 12.11% | 25.30 | 22.57 | 20 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 1/5/24 – 1/12/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | CRNRCH 10.25 9/1/2027 144A | 10.25% | 09/01/27 | -64.12% | 28.56 | 79.62 | 10 |
| 2 | DISH 7.375 7/1/2028 | 7.38% | 07/01/28 | -25.49% | 42.47 | 56.99 | 25 |
| 3 | AMC 5.875 11/15/2026 | 5.88% | 11/15/26 | -12.51% | 55.76 | 63.73 | 13 |
| 4 | CLARFP 4.125 PERP | 4.13% | NULL | -11.10% | 45.95 | 51.69 | 10 |
| 5 | TLRY 5.2 6/15/2027 | 5.20% | 06/15/27 | -10.41% | 100.02 | 111.65 | 6 |
| 6 | CDRSM 10.75 9/30/2023 144A | 11.00% | 09/30/26 | -9.59% | 50.03 | 55.34 | 3 |
| 7 | GOLLBZ 7 1/31/2025 144A | 7.00% | 01/31/25 | -9.40% | 27.76 | 30.64 | 15 |
| 8 | GRFSM 3.875 10/15/2028 REGS | 3.88% | 10/15/28 | -9.28% | 82.82 | 91.29 | 12 |
| 9 | EVA 6.5 1/15/2026 144A | 6.50% | 01/15/26 | -9.04% | 43.38 | 47.69 | 21 |
| 10 | INTULN 5.562 12/31/2027 | 5.56% | 12/31/27 | -8.00% | 36.17 | 39.32 | 7 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 1/5/24 – 1/12/24
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 1/5/24 – 1/12/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 1/5/24 vs. the week ending 1/12/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | VENZ 13.625 8/15/2018 | 13.63% | 08/15/18 | 18 | 203 | 185 | 1028% |
| 2 | PURGYM 8.25 10/11/2028 REGS | 8.25% | 10/11/28 | 70 | 186 | 116 | 166% |
| 3 | KVUE 4.9 3/22/2033 | 4.90% | 03/22/33 | 138 | 236 | 98 | 71% |
| 4 | VENLNG 9.5 2/1/2029 | 9.50% | 02/01/29 | 113 | 189 | 76 | 67% |
| 5 | VENLNG 9.875 2/1/2032 | 9.88% | 02/01/32 | 118 | 192 | 74 | 63% |
| 6 | GRFSM 3.875 10/15/2028 144A | 3.88% | 10/15/28 | 133 | 202 | 69 | 52% |
| 7 | PURGYM 10 10/11/2028 144A | 10.00% | 10/11/28 | 38 | 106 | 68 | 179% |
| 8 | TMUS 5.75 1/15/2034 | 5.75% | 01/15/34 | 264 | 329 | 65 | 25% |
| 9 | GRFSM 4.75 10/15/2028 144A | 4.75% | 10/15/28 | 119 | 176 | 57 | 48% |
| 10 | BLCOCN 8.375 10/1/2028 144A | 8.38% | 10/01/28 | 40 | 95 | 55 | 138% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 1/5/24 – 1/12/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | VTLE 9.5 1/15/2025 | 9.50% | 01/15/25 | 35 |
| 2 | F 3.25 2/12/2032 | 3.25% | 02/12/32 | 34 |
| 3 | F 6.1 8/19/2032 | 6.10% | 08/19/32 | 34 |
| 4 | TMUS 5.75 1/15/2034 | 5.75% | 01/15/34 | 33 |
| 5 | TNL 4.15 4/1/2024 | 4.15% | 04/01/24 | 33 |
| 6 | TMUS 5.05 7/15/2033 | 5.05% | 07/15/33 | 33 |
| 7 | FMCN 7.5 4/1/2025 | 7.50% | 04/01/25 | 32 |
| 8 | BACR 8 PERP | 8.00% | 12/15/99 | 32 |
| 9 | F 5.113 5/3/2029 | 5.11% | 05/03/29 | 32 |
| 10 | BACR 9.625 PERP | 9.63% | 12/15/99 | 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 1/5/24 – 1/12/24
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