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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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