Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 4/12/24
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 | 2nd Quarter 2024 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 4/5/24 – 4/12/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | ATOFP 1.125 4/17/2026 | 1.13% | 04/17/26 | 64.37% | 30.80 | 18.74 | 7 |
| 2 | BHCCN 6.125 2/1/2027 144A | 6.13% | 02/01/27 | 15.74% | 74.25 | 64.15 | 22 |
| 3 | SFRFP 4 2/15/2028 REGS | 4.00% | 02/15/28 | 14.95% | 27.88 | 24.26 | 26 |
| 4 | PBBGR 3.25 8/31/2026 | 3.25% | 08/31/26 | 14.34% | 57.17 | 50.00 | 2 |
| 5 | ROADKG 6.7 9/30/2024 | 6.70% | 09/30/24 | 11.92% | 65.84 | 58.83 | 22 |
| 6 | NAFTO 7.625 11/8/2028 REGS | 7.63% | 11/08/28 | 11.12% | 67.07 | 60.36 | 17 |
| 7 | LNZING 5.25 5/15/2029 REGS | 5.25% | 05/15/29 | 9.93% | 70.81 | 64.42 | 18 |
| 8 | TELSAT 5.625 12/6/2026 144A | 5.63% | 12/06/26 | 9.55% | 49.30 | 45.00 | 21 |
| 9 | STON 8.5 5/15/2029 144A | 8.50% | 05/15/29 | 9.15% | 75.10 | 68.81 | 12 |
| 10 | BOPREA 5 10/31/2027 | 5.00% | 10/31/27 | 9.12% | 76.02 | 69.67 | 5 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 4/5/24 – 4/12/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | NDN 7.5 1/15/2026 144A | 7.50% | 01/15/26 | -11.90% | 26.97 | 30.61 | 10 |
| 2 | APLNIJ 5.95 6/2/2024 | 5.95% | 06/02/24 | -11.70% | 71.37 | 80.83 | 18 |
| 3 | LUMN 6.875 1/15/2028 | 6.88% | 01/15/28 | -10.64% | 43.22 | 48.37 | 10 |
| 4 | NWDEVL 4.125 PERP | 4.13% | NULL | -8.53% | 52.54 | 57.44 | 20 |
| 5 | ENDP 6.125 4/1/2029 144A | 6.13% | 04/01/29 | -7.33% | 60.77 | 65.58 | 2 |
| 6 | ARDFIN 5 6/30/2027 REGS | 5.00% | 06/30/27 | -7.21% | 25.02 | 26.96 | 20 |
| 7 | SSP 5.375 1/15/2031 144A | 5.38% | 01/15/31 | -7.09% | 53.00 | 57.04 | 21 |
| 8 | RADIAT 6.5 9/15/2028 144A | 6.50% | 09/15/28 | -6.50% | 43.25 | 46.25 | 21 |
| 9 | CSCHLD 7.5 4/1/2028 144A | 7.50% | 04/01/28 | -6.34% | 60.41 | 64.49 | 25 |
| 10 | NOVA 5.875 9/1/2026 144A | 5.88% | 09/01/26 | -6.07% | 71.30 | 75.90 | 17 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 4/5/24 – 4/12/24
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 4/5/24 – 4/12/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 4/5/24 vs. the week ending 4/12/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | ARGENT 4.25 1/9/2038 | 4.25% | 01/09/38 | 100 | 252 | 152 | 152% |
| 2 | GEN 5 4/15/2025 REGS | 5.00% | 04/15/25 | 56 | 174 | 118 | 211% |
| 3 | NAFTO 7.625 11/8/2028 REGS | 7.63% | 11/08/28 | 50 | 149 | 99 | 198% |
| 4 | UKRAIN FLT 8/1/2041 144A | 0.00% | 08/01/41 | 18 | 116 | 98 | 544% |
| 5 | LFBANK 0.05 4/15/2026 | 0.05% | 04/15/26 | 71 | 163 | 92 | 130% |
| 6 | VEDLN 13.875 1/21/2027 REGS | 13.88% | 01/21/27 | 118 | 207 | 89 | 75% |
| 7 | VEDLN 13.875 12/9/2028 REGS | 13.88% | 12/09/28 | 126 | 214 | 88 | 70% |
| 8 | OCINCC 3.125 9/23/2026 | 3.13% | 09/23/26 | 3 | 90 | 87 | 2900% |
| 9 | NEUQUE 6.75 4/27/2030 REGS | 6.75% | 04/27/30 | 27 | 112 | 85 | 315% |
| 10 | NEUQUE 8.625 5/12/2030 REGS | 8.63% | 05/12/30 | 31 | 113 | 82 | 265% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 4/5/24 – 4/12/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | MGM 6.75 5/1/2025 | 6.75% | 05/01/25 | 37 |
| 2 | F 3.25 2/12/2032 | 3.25% | 02/12/32 | 35 |
| 3 | BACR 8 PERP | 8.00% | 12/15/99 | 35 |
| 4 | VVV 4.25 2/15/2030 | 4.25% | 02/15/30 | 34 |
| 5 | CRGYFN 7.25 5/1/2026 144A | 7.25% | 05/01/26 | 34 |
| 6 | MTDR 5.875 9/15/2026 | 5.88% | 09/15/26 | 33 |
| 7 | INTNED 6.5 PERP | 6.50% | NULL | 33 |
| 8 | CZR 6.25 7/1/2025 144A | 6.25% | 07/01/25 | 33 |
| 9 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 33 |
| 10 | F 6.1 8/19/2032 | 6.10% | 08/19/32 | 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 4/5/24 – 4/12/24
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