Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 5/3/24
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 4/26/24 – 5/3/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | FRAX 5.25 9/30/2028 144A | 5.25% | 09/30/28 | 21.40% | 69.50 | 57.25 | 21 |
| 2 | FTLNHD 4.625 10/15/2025 | 4.63% | 10/15/25 | 20.28% | 52.75 | 43.86 | 14 |
| 3 | EBS 3.875 8/15/2028 144A | 3.88% | 08/15/28 | 17.11% | 59.00 | 50.38 | 19 |
| 4 | TOTALP 6.375 9/20/2028 REGS | 6.38% | 09/20/28 | 14.41% | 55.17 | 48.22 | 15 |
| 5 | WOMCHI 4.7 1/22/2028 REGS | 4.70% | 01/22/28 | 14.35% | 41.15 | 35.99 | 19 |
| 6 | FUTLAN 4.45 7/13/2025 | 4.45% | 07/13/25 | 12.09% | 53.78 | 47.98 | 13 |
| 7 | LIQTEL 5.5 9/4/2026 REGS | 5.50% | 09/04/26 | 9.89% | 63.65 | 57.92 | 15 |
| 8 | HOME 11.5 5/12/2028 | 11.50% | 05/12/28 | 9.31% | 76.59 | 70.06 | 5 |
| 9 | ROADKG 6 9/4/2025 | 6.00% | 09/04/25 | 9.27% | 27.03 | 24.74 | 22 |
| 10 | WW 4.5 4/15/2029 144A | 4.50% | 04/15/29 | 7.59% | 41.69 | 38.75 | 23 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 4/26/24 – 5/3/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | ARDFIN 6.5 6/30/2027 144A | 6.50% | 06/30/27 | -13.44% | 25.08 | 28.97 | 11 |
| 2 | LVLT 3.4 3/1/2027 144A | 3.40% | 03/01/27 | -10.33% | 59.85 | 66.75 | 13 |
| 3 | SFRFP 8 5/15/2027 REGS | 8.00% | 05/15/27 | -10.14% | 28.55 | 31.77 | 24 |
| 4 | LUMN 4 2/15/2027 144A | 4.00% | 02/15/27 | -9.95% | 50.64 | 56.24 | 15 |
| 5 | CSCHLD 11.25 5/15/2028 144A | 11.25% | 05/15/28 | -7.47% | 84.25 | 91.05 | 26 |
| 6 | RAD 8 11/15/2026 144A | 8.00% | 11/15/26 | -7.35% | 59.25 | 63.95 | 14 |
| 7 | CNECN 5.75 11/24/2028 144A | 5.75% | 11/24/28 | -7.23% | 46.20 | 49.79 | 22 |
| 8 | HEIBOS 3 PERP | 3.00% | NULL | -7.06% | 54.95 | 59.13 | 23 |
| 9 | CMGMCO 8.875 12/15/2027 144A | 8.88% | 12/15/27 | -6.92% | 54.66 | 58.73 | 17 |
| 10 | ARNDTN 1.625 PERP | 1.63% | NULL | -6.43% | 43.07 | 46.03 | 19 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 4/26/24 – 5/3/24
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 4/26/24 – 5/3/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 4/26/24 vs. the week ending 5/3/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | CSTM 3.75 4/15/2029 144A | 3.75% | 04/15/29 | 79 | 225 | 146 | 185% |
| 2 | CCO 7.875 4/1/2030 144A | 7.88% | 04/01/30 | 94 | 178 | 84 | 89% |
| 3 | ZFFNGR 2 2/23/2026 | 2.00% | 02/23/26 | 220 | 285 | 65 | 30% |
| 4 | BLCOCN 8.375 10/1/2028 144A | 8.38% | 10/01/28 | 187 | 235 | 48 | 26% |
| 5 | PBBGR 8.474 PERP | 8.47% | NULL | 183 | 230 | 47 | 26% |
| 6 | HEIBOS 1.625 10/13/2031 | 1.63% | 10/13/31 | 204 | 250 | 46 | 23% |
| 7 | ARNDTN 0.375 4/15/2027 | 0.38% | 04/15/27 | 194 | 240 | 46 | 24% |
| 8 | HEIBOS 1.375 7/24/2028 | 1.38% | 07/24/28 | 204 | 250 | 46 | 23% |
| 9 | ARNDTN 1.45 7/9/2028 | 1.45% | 07/09/28 | 194 | 240 | 46 | 24% |
| 10 | ARNDTN 1.625 1/31/2028 | 1.63% | 01/31/28 | 194 | 240 | 46 | 24% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 4/26/24 – 5/3/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | BACR 8 PERP | 8.00% | 12/15/99 | 40 |
| 2 | MTDR 5.875 9/15/2026 | 5.88% | 09/15/26 | 38 |
| 3 | INTNED 6.5 PERP | 6.50% | NULL | 37 |
| 4 | BACR 4.375 PERP | 4.38% | NULL | 37 |
| 5 | BACR 6.125 PERP | 6.13% | NULL | 36 |
| 6 | BACR 9.625 PERP | 9.63% | 12/15/99 | 36 |
| 7 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 36 |
| 8 | MGM 6.75 5/1/2025 | 6.75% | 05/01/25 | 36 |
| 9 | LLOYDS 7.5 PERP | 7.50% | NULL | 36 |
| 10 | DB 7.5 PERP | 7.50% | NULL | 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 4/26/24 – 5/3/24
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