Corporates

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High Yield Corporate Bond Market Summary:
Week Ending 2/2/24

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 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 1/26/24 – 2/2/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 ECUA 2.5 7/31/2040 2.50% 07/31/40 19.34% 25.83 21.64 2
2 NOVBNC 0 2/12/2049 0.00% 02/12/49 15.61% 27.41 23.71 11
3 BAKIDE 6.99 2/20/2032 REGS 6.99% 02/20/32 14.21% 70.59 61.80 19
4 ABRAGF 11.5 3/2/2028 144A 11.50% 03/02/28 13.74% 77.60 68.23 17
5 GOLLBZ 8 6/30/2026 144A 8.00% 06/30/26 13.48% 40.31 35.53 18
6 BOLIVI 4.5 3/20/2028 4.50% 03/20/28 11.46% 54.07 48.51 16
7 WOMCHI 4.7 1/22/2028 REGS 4.70% 01/22/28 10.25% 58.38 52.95 16
8 CORURI 10 2/10/2027 REGS 10.00% 02/10/27 7.64% 84.95 78.92 17
9 CMGMCO 8.875 12/15/2027 144A 8.88% 12/15/27 7.54% 79.67 74.08 21
10 KPERST 6.5 9/1/2026 REGS 6.50% 09/01/26 7.40% 64.49 60.04 20

Bottom 10 Performers

Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 1/26/24 – 2/2/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 RDHGCL 7.8 3/20/2024 7.80% 03/20/24 -30.51% 53.22 76.59 14
2 INTRUM 9.25 3/15/2028 REGS 9.25% 03/15/28 -13.18% 76.46 88.06 21
3 BRNKGR 2.25 9/22/2026 2.25% 09/22/26 -13.15% 30.53 35.15 16
4 ARDFIN 5 6/30/2027 REGS 5.00% 06/30/27 -13.07% 43.66 50.23 19
5 WW 4.5 4/15/2029 144A 4.50% 04/15/29 -10.24% 47.21 52.59 23
6 COMM 8.25 3/1/2027 144A 8.25% 03/01/27 -9.94% 43.25 48.02 23
7 VOLCAN 4.375 2/11/2026 REGS 4.38% 02/11/26 -9.58% 57.18 63.24 18
8 PBBGR 8.474 PERP 8.47% NULL -7.08% 54.43 58.58 18
9 EVA 6.5 1/15/2026 144A 6.50% 01/15/26 -6.67% 37.01 39.66 21
10 SATS 6.625 8/1/2026 6.63% 08/01/26 -6.56% 67.65 72.39 23

Avg Industry Price

Displays the HY Corp average industry price by sector between 1/26/24 – 2/2/24

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 1/26/24 – 2/2/24

Top Quote Volume Movers: This Week vs Last Week

Exhibits the HY Corps with the largest increase in quote volume for the week ending 1/26/24 vs. the week ending 2/2/24

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 CRGYFN 9.25 2/15/2028 144A 9.25% 02/15/28 70 189 119 170%
2 TALO 12 1/15/2026 12.00% 01/15/26 226 295 69 31%
3 KEHEFO 8.625 10/15/2026 144A 8.63% 10/15/26 133 190 57 43%
4 MBGGR 3 7/10/2027 3.00% 07/10/27 163 217 54 33%
5 EVEVEN 11.75 4/15/2026 144A 11.75% 04/15/26 162 209 47 29%
6 KILOTO FLT 7/15/2027 144A 0.00% 07/15/27 34 78 44 129%
7 LOXAM 6.375 6/30/2029 REGS 6.38% 06/30/29 126 166 40 32%
8 NGL 7.5 4/15/2026 7.50% 04/15/26 111 150 39 35%
9 AA 6.125 5/15/2028 REGS 6.13% 05/15/28 134 171 37 28%
10 NGL 6.125 3/1/2025 6.13% 03/01/25 222 259 37 17%

Most Quoted HY Corps

Ranks the HY Corps that were quoted by the highest number of dealers between 1/26/24 – 2/2/24

RANK TRANCHE COUPON MATURITY DEALERS
1 CCL 9.875 8/1/2027 144A 9.88% 08/01/27 39
2 TALO 12 1/15/2026 12.00% 01/15/26 36
3 TMUS 5.75 1/15/2034 5.75% 01/15/34 35
4 ACRISU 7 11/15/2025 144A 7.00% 11/15/25 35
5 CSCHLD 5.25 6/1/2024 5.25% 06/01/24 34
6 ELV 5.125 2/15/2053 5.13% 02/15/53 34
7 F 5.8 3/5/2027 5.80% 03/05/27 34
8 UBS 7 PERP 7.00% NULL 33
9 BACR 8 PERP 8.00% 12/15/99 33
10 TNL 4.15 4/1/2024 4.15% 04/01/24 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 1/26/24 – 2/2/24

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