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High Yield Corporate Bond Market Summary:
Week Ending 3/28/24

Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.

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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 3/22/24 – 3/28/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 TOTALP 6.375 9/20/2028 REGS 6.38% 09/20/28 24.75% 49.15 39.40 16
2 UKRAIN 0 5/31/2040 REGS 0.00% 05/31/40 17.53% 56.29 47.89 5
3 TLRY 5.2 6/15/2027 5.20% 06/15/27 14.78% 115.19 100.36 5
4 LOGM 5.5 9/1/2027 144A 5.50% 09/01/27 14.38% 66.78 58.38 7
5 BTSG 6.75 2/1/2027 6.75% 02/01/27 13.42% 44.27 39.04 5
6 INTRUM 4.875 8/15/2025 REGS 4.88% 08/15/25 11.46% 74.68 67.00 25
7 ARGID 4.75 7/15/2027 REGS 4.75% 07/15/27 10.69% 59.36 53.63 21
8 BRNKGR 2.25 9/22/2026 2.25% 09/22/26 10.67% 32.00 28.91 14
9 DBBYRB 6.75 5/2/2024 REGS 6.75% 05/02/24 10.50% 38.87 35.18 8
10 SRSDIS 6 12/1/2029 144A 6.00% 12/01/29 9.23% 102.19 93.55 21

Bottom 10 Performers

Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 3/22/24 – 3/28/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 CNECN 5.75 11/24/2028 144A 5.75% 11/24/28 -18.87% 48.30 59.54 20
2 RAX 3.5 2/15/2028 144A 3.50% 02/15/28 -13.01% 30.53 35.10 16
3 CHIOIL 4.7 6/30/2026 4.70% 06/30/26 -9.33% 84.91 93.65 16
4 WW 4.5 4/15/2029 144A 4.50% 04/15/29 -9.19% 39.39 43.38 21
5 KPERST 6.5 9/1/2026 REGS 6.50% 09/01/26 -7.60% 52.01 56.28 16
6 LVLT 3.625 1/15/2029 144A 3.63% 01/15/29 -7.48% 41.75 45.13 16
7 ARDFIN 5 6/30/2027 REGS 5.00% 06/30/27 -7.09% 27.74 29.86 19
8 TSE 5.125 4/1/2029 REGS 5.13% 04/01/29 -5.13% 31.96 33.69 17
9 ROADKG 5.9 3/5/2025 5.90% 03/05/25 -4.98% 47.68 50.18 18
10 DMREGR 1.875 10/15/2024 1.88% 10/15/24 -4.52% 64.66 67.73 15

Avg Industry Price

Displays the HY Corp average industry price by sector between 3/22/24 – 3/28/24

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 3/22/24 – 3/28/24

Top Quote Volume Movers: This Week vs Last Week

Exhibits the HY Corps with the largest increase in quote volume for the week ending 3/22/24 vs. the week ending 3/28/24

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 DELL 5.4 4/15/2034 5.40% 04/15/34 253 330 77 30%
2 TUNIS 5.75 1/30/2025 REGS 5.75% 01/30/25 102 176 74 73%
3 MPEL 4.875 6/6/2025 144A 4.88% 06/06/25 197 263 66 34%
4 UNSEAM 4.625 6/1/2028 144A 4.63% 06/01/28 144 204 60 42%
5 URI 6.125 3/15/2034 144A 6.13% 03/15/34 190 250 60 32%
6 OSCHAD 9.625 3/20/2025 REGS 9.63% 03/20/25 50 106 56 112%
7 DISH 5.25 12/1/2026 144A 5.25% 12/01/26 170 224 54 32%
8 DISH 5.75 12/1/2028 144A 5.75% 12/01/28 170 224 54 32%
9 VICI 5.75 4/1/2034 5.75% 04/01/34 167 218 51 31%
10 ADGREG 6.7 3/12/2042 REGS 6.70% 03/12/42 196 247 51 26%

Most Quoted HY Corps

Ranks the HY Corps that were quoted by the highest number of dealers between 3/22/24 – 3/28/24

 
RANK		 TRANCHE COUPON MATURITY DEALERS
1 MGM 6.75 5/1/2025 6.75% 05/01/25 38
2 F 6.125 3/8/2034 6.13% 03/08/34 36
3 F 5.8 3/8/2029 5.80% 03/08/29 36
4 USAC 6.875 4/1/2026 6.88% 04/01/26 36
5 BACR 8 PERP 8.00% 12/15/99 36
6 BACR 4.375 PERP 4.38% NULL 35
7 INTNED 3.875 PERP 3.88% NULL 35
8 MTDR 5.875 9/15/2026 5.88% 09/15/26 35
9 BZH 6.75 3/15/2025 6.75% 03/15/25 35
10 TMUS 5.05 7/15/2033 5.05% 07/15/33 35

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 3/22/24 – 3/28/24

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