Corporates
GET OUR CORPORATE MARKET SUMMARIES STRAIGHT TO YOUR INBOX. LEARN MORE
High Yield Corporate Bond Market Summary:
Week Ending 2/23/24
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 2/16/24 – 2/23/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | UNIGEL 8.75 10/1/2026 REGS | 8.75% | 10/01/26 | 36.66% | 33.95 | 24.84 | 18 |
| 2 | RADPAR 9.25 2/1/2028 144A | 9.25% | 02/01/28 | 32.76% | 90.00 | 67.79 | 18 |
| 3 | PBBGR 4.6 2/22/2027 | 4.60% | 02/22/27 | 28.31% | 40.01 | 31.18 | 16 |
| 4 | ARDFIN 6.5 6/30/2027 144A | 6.50% | 06/30/27 | 20.65% | 46.75 | 38.75 | 9 |
| 5 | GLPSP 4.6 PERP | 4.60% | NULL | 15.49% | 45.93 | 39.77 | 18 |
| 6 | MDLNIJ 5 4/30/2027 | 5.00% | 04/30/27 | 14.47% | 32.68 | 28.54 | 14 |
| 7 | ARGBON 1 7/9/2029 | 1.00% | 07/09/29 | 13.23% | 45.43 | 40.12 | 10 |
| 8 | LMRTSP 6.4751 PERP | 6.48% | NULL | 13.01% | 35.72 | 31.61 | 9 |
| 9 | VOLCAN 4.375 2/11/2026 REGS | 4.38% | 02/11/26 | 12.54% | 61.78 | 54.89 | 17 |
| 10 | FTLNHD 4.625 10/15/2025 | 4.63% | 10/15/25 | 12.04% | 30.17 | 26.93 | 15 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 2/16/24 – 2/23/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | PDVSA 8.5 10/27/2020 | 8.50% | 10/27/20 | -13.63% | 76.60 | 88.68 | 21 |
| 2 | NGL 9.625 PERP | 9.63% | 04/02/99 | -12.78% | 27.47 | 31.49 | 3 |
| 3 | AARB 7.625 PERP | 7.63% | NULL | -12.15% | 64.34 | 73.24 | 15 |
| 4 | TOTALP 7.5 11/12/2025 REGS | 7.50% | 11/12/25 | -12.03% | 50.34 | 57.22 | 17 |
| 5 | ORIFLM FLT 5/4/2026 REGS | 8.14% | 05/04/26 | -10.13% | 25.51 | 28.39 | 11 |
| 6 | CYH 6.875 4/15/2029 144A | 6.88% | 04/15/29 | -8.79% | 66.51 | 72.92 | 18 |
| 7 | SCCPWR 8 12/31/2028 144A | 8.00% | 12/31/28 | -6.53% | 45.93 | 49.13 | 8 |
| 8 | BTSG 6.75 2/1/2027 | 6.75% | 02/01/27 | -6.04% | 40.80 | 43.42 | 6 |
| 9 | CSCHLD 4.625 12/1/2030 144A | 4.63% | 12/01/30 | -5.52% | 43.84 | 46.41 | 21 |
| 10 | UIS 6.875 11/1/2027 144A | 6.88% | 11/01/27 | -5.17% | 88.24 | 93.05 | 22 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 2/16/24 – 2/23/24
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 2/16/24 – 2/23/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 2/16/24 vs. the week ending 2/23/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | CCL 7.625 3/1/2026 144A | 7.63% | 03/01/26 | 27 | 216 | 189 | 700% |
| 2 | CAR 5.75 7/15/2027 144A | 5.75% | 07/15/27 | 17 | 186 | 169 | 994% |
| 3 | URI 4.875 1/15/2028 | 4.88% | 01/15/28 | 22 | 162 | 140 | 636% |
| 4 | IVYCST 5.75 12/31/2032 REGS | 5.75% | 12/31/32 | 18 | 146 | 128 | 711% |
| 5 | DOMREP 7.45 4/30/2044 REGS | 7.45% | 04/30/44 | 16 | 142 | 126 | 788% |
| 6 | DOMREP 5.5 1/27/2025 REGS | 5.50% | 01/27/25 | 16 | 142 | 126 | 788% |
| 7 | UKRAIN 7.75 9/1/2024 REGS | 7.75% | 09/01/24 | 62 | 174 | 112 | 181% |
| 8 | SGCAZE 6.875 3/24/2026 REGS | 6.88% | 03/24/26 | 20 | 110 | 90 | 450% |
| 9 | CCLP 7.5 4/1/2025 144A | 7.50% | 04/01/25 | 8 | 96 | 88 | 1100% |
| 10 | UNVR 8.5 6/30/2030 144A | 8.50% | 06/30/30 | 61 | 139 | 78 | 128% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 2/16/24 – 2/23/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | CCL 9.875 8/1/2027 144A | 9.88% | 08/01/27 | 36 |
| 2 | BACR 8 PERP | 8.00% | 12/15/99 | 35 |
| 3 | BALL 5.25 7/1/2025 | 5.25% | 07/01/25 | 35 |
| 4 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 35 |
| 5 | INTNED 3.875 PERP | 3.88% | NULL | 34 |
| 6 | CNX 7.25 3/14/2027 144A | 7.25% | 03/14/27 | 34 |
| 7 | INTNED 5.75 PERP | 5.75% | NULL | 34 |
| 8 | TDG 6.25 3/15/2026 144A | 6.25% | 03/15/26 | 34 |
| 9 | POST 5.75 3/1/2027 | 5.75% | 03/01/27 | 34 |
| 10 | RAKUTN 11.25 2/15/2027 144A | 11.25% | 02/15/27 | 34 |
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 2/16/24 – 2/23/24
Stay up-to-date with weekly summaries.
