Corporates

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High Yield Corporate Bond Market Summary:
Week Ending 3/1/24

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
Clear Channel Outdoor Holdings $865 million senior secured notes JPM 1st Quarter 2024

Top 10 Performers

Showcases the top 10 HY Corp performers based on the largest bid price increases between 2/23/24 – 3/1/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 GOLLBZ 8 6/30/2026 REGS 8.00% 06/30/26 31.83% 58.00 44.00 5
2 CSCHLD 4.625 12/1/2030 144A 4.63% 12/01/30 27.08% 55.72 43.84 22
3 RADIAT 6.5 9/15/2028 144A 6.50% 09/15/28 21.68% 48.37 39.75 19
4 EBS 3.875 8/15/2028 144A 3.88% 08/15/28 18.23% 41.97 35.50 13
5 TOTALP 7.5 11/12/2025 REGS 7.50% 11/12/25 18.00% 59.40 50.34 17
6 LINTA 8.25 2/1/2030 8.25% 02/01/30 17.14% 66.15 56.47 17
7 SPLS 10.75 4/15/2027 10.75% 04/15/27 15.15% 90.32 78.44 22
8 SFRFP 6 2/15/2028 144A 6.00% 02/15/28 13.91% 50.50 44.33 7
9 EGYPT 6.375 4/11/2031 REGS 6.38% 04/11/31 13.46% 82.67 72.86 23
10 FTLNHD 4.625 10/15/2025 4.63% 10/15/25 12.31% 33.89 30.17 15

Bottom 10 Performers

Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 2/23/24 – 3/1/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 ARDFIN 6.5 6/30/2027 REGS 6.50% 06/30/27 -10.43% 40.37 45.07 21
2 GTN 5.375 11/15/2031 144A 5.38% 11/15/31 -10.35% 64.81 72.29 28
3 CMGMCO 8.875 12/15/2027 144A 8.88% 12/15/27 -9.69% 62.96 69.72 20
4 SSP 5.375 1/15/2031 144A 5.38% 01/15/31 -9.33% 57.10 62.98 26
5 WW 4.5 4/15/2029 144A 4.50% 04/15/29 -8.61% 46.15 50.50 20
6 MODV 5 10/1/2029 144A 5.00% 10/01/29 -8.60% 73.70 80.64 20
7 BUENOS 5.5 9/1/2037 144A 5.50% 09/01/37 -8.16% 31.03 33.79 10
8 AMSSW 10.5 3/30/2029 REGS 10.50% 03/30/29 -7.75% 100.12 108.54 19
9 COMM 7.125 7/1/2028 144A 7.13% 07/01/28 -6.49% 40.11 42.90 22
10 ALNMED 10.5 2/15/2028 10.50% 02/15/28 -6.38% 48.38 51.67 14

Avg Industry Price

Displays the HY Corp average industry price by sector between 2/23/24 – 3/1/24

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 2/23/24 – 3/1/24

Top Quote Volume Movers: This Week vs Last Week

Exhibits the HY Corps with the largest increase in quote volume for the week ending 2/23/24 vs. the week ending 3/1/24

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 ATALIA 5.125 5/15/2025 REGS 5.13% 05/15/25 90 176 86 96%
2 ATALIA 6.625 5/15/2025 REGS 6.63% 05/15/25 96 164 68 71%
3 DSPORT 5.375 8/15/2026 144A 5.38% 08/15/26 77 144 67 87%
4 PCG 6.75 1/15/2053 6.75% 01/15/53 210 269 59 28%
5 REPVEN 9.25 9/15/2027 9.25% 09/15/27 88 143 55 63%
6 SOCGEN 10 PERP 144A 10.00% 11/14/99 200 251 51 26%
7 FI 4.4 7/1/2049 4.40% 07/01/49 225 272 47 21%
8 FI 5.625 8/21/2033 5.63% 08/21/33 244 288 44 18%
9 FI 2.65 6/1/2030 2.65% 06/01/30 201 245 44 22%
10 WCC 7.125 6/15/2025 144A 7.13% 06/15/25 207 251 44 21%

Most Quoted HY Corps

Ranks the HY Corps that were quoted by the highest number of dealers between 2/23/24 – 3/1/24

RANK TRANCHE COUPON MATURITY DEALERS
1 BALL 5.25 7/1/2025 5.25% 07/01/25 37
2 SANTAN 9.625 PERP 9.63% 11/21/99 36
3 TMUS 5.05 7/15/2033 5.05% 07/15/33 35
4 FMCN 7.5 4/1/2025 144A 7.50% 04/01/25 34
5 UBS 9.25 PERP REGS 9.25% NULL 34
6 INTNED 5.75 PERP 5.75% NULL 34
7 CHTR 5.25 4/1/2053 5.25% 04/01/53 34
8 POST 5.75 3/1/2027 5.75% 03/01/27 34
9 RAKUTN 11.25 2/15/2027 REGS 11.25% 02/15/27 34
10 TMUS 5.15 4/15/2034 5.15% 04/15/34 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 2/23/24 – 3/1/24

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