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High Yield Corporate Bond Market Summary:
Week Ending 1/19/24
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 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 1/12/24 – 1/19/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | CSCHCN 9 12/11/2024 | 9.00% | 12/11/24 | 43.25% | 43.58 | 30.43 | 7 |
| 2 | HCELEC 4.65 12/29/2026 | 4.65% | 12/29/26 | 28.85% | 38.81 | 30.12 | 7 |
| 3 | LMRTSP 8.096 PERP | 8.10% | NULL | 23.41% | 30.67 | 24.85 | 9 |
| 4 | HOME 7.125 5/12/2028 144A | 7.13% | 05/12/28 | 15.23% | 39.04 | 33.88 | 10 |
| 5 | TAST 5.875 7/1/2029 | 5.88% | 07/01/29 | 14.95% | 102.30 | 89.00 | 26 |
| 6 | NOVALJ 3.65 11/19/2029 | 3.65% | 11/19/29 | 12.38% | 97.48 | 86.75 | 3 |
| 7 | SURINM 0 12/31/2050 REGS | 0.00% | 12/31/50 | 9.93% | 66.17 | 60.20 | 10 |
| 8 | BELRUS 7.625 6/29/2027 REGS | 7.63% | 06/29/27 | 9.26% | 36.39 | 33.30 | 11 |
| 9 | EHICAR 7 9/21/2026 | 7.00% | 09/21/26 | 8.89% | 76.77 | 70.51 | 16 |
| 10 | MDC 3.966 8/6/2061 | 3.97% | 08/06/61 | 7.55% | 68.92 | 64.09 | 14 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 1/12/24 – 1/19/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | ATOFP 1.75 5/7/2025 | 1.75% | 05/07/25 | -59.02% | 27.66 | 67.50 | 22 |
| 2 | GOLLBZ 8 6/30/2026 144A | 8.00% | 06/30/26 | -22.66% | 27.14 | 35.09 | 16 |
| 3 | THAMES 4.625 5/19/2026 REGS | 4.63% | 05/19/26 | -11.79% | 43.67 | 49.50 | 15 |
| 4 | WW 4.5 4/15/2029 144A | 4.50% | 04/15/29 | -10.19% | 52.48 | 58.44 | 19 |
| 5 | LVLT 3.75 7/15/2029 144A | 3.75% | 07/15/29 | -9.45% | 34.50 | 38.10 | 17 |
| 6 | SIGRP 6.75 5/15/2026 144A | 6.75% | 05/15/26 | -9.23% | 25.64 | 28.25 | 12 |
| 7 | HEIBOS 2.625 PERP | 2.63% | 01/26/99 | -8.15% | 45.34 | 49.36 | 21 |
| 8 | LUMN 4 2/15/2027 144A | 4.00% | 02/15/27 | -7.97% | 54.53 | 59.25 | 20 |
| 9 | UKRAIN 7.75 9/1/2027 | 7.75% | 09/01/27 | -7.44% | 26.55 | 28.68 | 19 |
| 10 | ABRAGF 11.5 3/2/2028 144A | 11.50% | 03/02/28 | -5.93% | 69.04 | 73.39 | 13 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 1/12/24 – 1/19/24
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 1/12/24 – 1/19/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 1/12/24 vs. the week ending 1/19/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | PETBRA 6.85 6/5/2115 | 6.85% | 06/05/15 | 65 | 183 | 118 | 182% |
| 2 | EUROB 5.875 11/28/2029 | 5.88% | 11/28/29 | 60 | 154 | 94 | 157% |
| 3 | BLCOCN 8.375 10/1/2028 144A | 8.38% | 10/01/28 | 95 | 172 | 77 | 81% |
| 4 | CHBANI 7.5 4/15/2025 | 7.50% | 04/15/25 | 215 | 264 | 49 | 23% |
| 5 | AGILE 13.476 PERP | 13.48% | NULL | 40 | 88 | 48 | 120% |
| 6 | TAST 5.875 7/1/2029 | 5.88% | 07/01/29 | 200 | 244 | 44 | 22% |
| 7 | CHBANI 4.625 11/15/2028 144A | 4.63% | 11/15/28 | 191 | 234 | 43 | 23% |
| 8 | TEP 7.5 10/1/2025 144A | 7.50% | 10/01/25 | 204 | 246 | 42 | 21% |
| 9 | DISH 7.75 7/1/2026 | 7.75% | 07/01/26 | 248 | 289 | 41 | 17% |
| 10 | STENA 6.125 2/1/2025 144A | 6.13% | 02/01/25 | 95 | 136 | 41 | 43% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 1/12/24 – 1/19/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | TMUS 5.75 1/15/2034 | 5.75% | 01/15/34 | 35 |
| 2 | TMUS 5.05 7/15/2033 | 5.05% | 07/15/33 | 34 |
| 3 | F 6.1 8/19/2032 | 6.10% | 08/19/32 | 34 |
| 4 | VTLE 9.5 1/15/2025 | 9.50% | 01/15/25 | 34 |
| 5 | F 7.122 11/7/2033 | 7.12% | 11/07/33 | 33 |
| 6 | F 3.25 2/12/2032 | 3.25% | 02/12/32 | 33 |
| 7 | F 6.95 6/10/2026 | 6.95% | 06/10/26 | 33 |
| 8 | BACR 8 PERP | 8.00% | 12/15/99 | 33 |
| 9 | FMCN 7.5 4/1/2025 | 7.50% | 04/01/25 | 33 |
| 10 | ACRISU 7 11/15/2025 144A | 7.00% | 11/15/25 | 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 1/12/24 – 1/19/24
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