Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 2/16/24
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 |
| Brightspeed | $1.865 billion senior secured notes | 1st Quarter 2024 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 2/9/24 – 2/16/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | WAIR 8.5 11/15/2024 144A | 8.50% | 11/15/24 | 125.26% | 26.26 | 11.66 | 6 |
| 2 | BUENOS 4.5 9/1/2037 144A | 4.50% | 09/01/37 | 18.89% | 34.30 | 28.85 | 6 |
| 3 | SAVE 3.8 2/15/2026 | 3.80% | 02/15/26 | 13.89% | 83.86 | 73.63 | 9 |
| 4 | MCBRAC 7.25 6/30/2031 REGS | 7.25% | 06/30/31 | 12.87% | 87.35 | 77.39 | 22 |
| 5 | ARGENT 0.75 7/9/2030 | 0.75% | 07/09/30 | 8.39% | 44.76 | 41.30 | 28 |
| 6 | GLPSP 4.6 PERP | 4.60% | NULL | 7.69% | 39.77 | 36.93 | 17 |
| 7 | TALKLN 3.875 2/20/2025 | 3.88% | 02/20/25 | 7.27% | 92.32 | 86.06 | 18 |
| 8 | HEIBOS FLT PERP | 3.00% | NULL | 7.18% | 51.20 | 47.77 | 23 |
| 9 | VODUKR 6.2 2/11/2025 REGS | 6.20% | 02/11/25 | 7.15% | 85.75 | 80.03 | 17 |
| 10 | VEDLN 9.25 4/23/2026 REGS | 9.25% | 04/23/26 | 6.50% | 87.79 | 82.44 | 14 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 2/9/24 – 2/16/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | CSCHCN 9 12/11/2024 | 9.00% | 12/11/24 | -38.00% | 25.86 | 41.71 | 11 |
| 2 | PBBGR 4.6 2/22/2027 | 4.60% | 02/22/27 | -34.38% | 31.18 | 47.51 | 16 |
| 3 | CURO 7.5 8/1/2028 | 7.50% | 08/01/28 | -30.76% | 26.95 | 38.92 | 10 |
| 4 | ATOFP 1.75 5/7/2025 | 1.75% | 05/07/25 | -19.66% | 25.24 | 31.42 | 20 |
| 5 | CMGMCO 8.875 12/15/2027 144A | 8.88% | 12/15/27 | -17.26% | 64.60 | 78.08 | 20 |
| 6 | LECTA 7 9/1/2028 REGS | 7.00% | 09/01/28 | -12.92% | 46.61 | 53.53 | 3 |
| 7 | ARDFIN 6.5 6/30/2027 144A | 6.50% | 06/30/27 | -10.08% | 38.75 | 43.09 | 9 |
| 8 | HLF 4.875 6/1/2029 144A | 4.88% | 06/01/29 | -9.76% | 69.87 | 77.43 | 21 |
| 9 | SSP 5.375 1/15/2031 144A | 5.38% | 01/15/31 | -6.37% | 64.11 | 68.48 | 25 |
| 10 | IHRT 8.375 5/1/2027 | 8.38% | 05/01/27 | -6.06% | 56.75 | 60.41 | 26 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 2/9/24 – 2/16/24
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 2/9/24 – 2/16/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 2/9/24 vs. the week ending 2/16/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | DOMREP 6.875 1/29/2026 | 6.88% | 01/29/26 | 64 | 175 | 111 | 173% |
| 2 | DOMREP 5.95 1/25/2027 | 5.95% | 01/25/27 | 60 | 160 | 100 | 167% |
| 3 | PARGUY 5.4 3/30/2050 144A | 5.40% | 03/30/50 | 76 | 150 | 74 | 97% |
| 4 | HI 3.75 3/1/2031 | 3.75% | 03/01/31 | 162 | 225 | 63 | 39% |
| 5 | GEO 5.875 10/15/2024 | 5.88% | 10/15/24 | 46 | 102 | 56 | 122% |
| 6 | SBH 5.625 12/1/2025 | 5.63% | 12/01/25 | 187 | 237 | 50 | 27% |
| 7 | HI 5.75 6/15/2025 | 5.75% | 06/15/25 | 187 | 235 | 48 | 26% |
| 8 | ARDMID 11.5 1/15/2027 144A | 11.50% | 01/15/27 | 40 | 88 | 48 | 120% |
| 9 | CNX 7.25 3/14/2027 144A | 7.25% | 03/14/27 | 205 | 253 | 48 | 23% |
| 10 | WYNFIN 7.125 2/15/2031 144A | 7.13% | 02/15/31 | 235 | 277 | 42 | 18% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 2/9/24 – 2/16/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | CCL 9.875 8/1/2027 144A | 9.88% | 08/01/27 | 37 |
| 2 | TALO 12 1/15/2026 | 12.00% | 01/15/26 | 36 |
| 3 | BACR 8 PERP | 8.00% | 12/15/99 | 34 |
| 4 | CZR 6.25 7/1/2025 144A | 6.25% | 07/01/25 | 34 |
| 5 | POST 5.75 3/1/2027 | 5.75% | 03/01/27 | 34 |
| 6 | TMUS 5.15 4/15/2034 | 5.15% | 04/15/34 | 33 |
| 7 | CSCHLD 5.25 6/1/2024 | 5.25% | 06/01/24 | 33 |
| 8 | CZR 6.5 2/15/2032 | 6.50% | 02/15/32 | 33 |
| 9 | CVI 5.25 2/15/2025 | 5.25% | 02/15/25 | 33 |
| 10 | TMUS 5.05 7/15/2033 | 5.05% | 07/15/33 | 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 2/9/24 – 2/16/24
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