High Yield Corporate Bond Market Summary – Week Ending 5/10/24
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High Yield Corporate Bond Market Summary: Week Ending 5/10/24
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 5/3/24 – 5/10/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | CNECN 5.75 11/24/2028 144A | 5.75% | 11/24/28 | 17.95% | 54.49 | 46.20 | 21 |
| 2 | SBBBSS 2.624 PERP | 2.62% | NULL | 14.68% | 29.10 | 25.37 | 22 |
| 3 | WW 4.5 4/15/2029 144A | 4.50% | 04/15/29 | 12.24% | 46.79 | 41.69 | 26 |
| 4 | NOVA 5.875 9/1/2026 144A | 5.88% | 09/01/26 | 10.90% | 67.10 | 60.51 | 21 |
| 5 | ARGID 4.75 7/15/2027 REGS | 4.75% | 07/15/27 | 10.49% | 54.43 | 49.26 | 23 |
| 6 | PBBGR 8.474 PERP | 8.47% | NULL | 10.45% | 47.41 | 42.92 | 24 |
| 7 | KPERST 6.5 9/1/2026 REGS | 6.50% | 09/01/26 | 8.94% | 45.90 | 42.13 | 20 |
| 8 | BHCCN 14 10/15/2030 144A | 14.00% | 10/15/30 | 8.11% | 70.00 | 64.75 | 21 |
| 9 | UKRAIN 7.253 3/15/2035 REGS | 7.25% | 03/15/33 | 7.87% | 27.47 | 25.47 | 6 |
| 10 | APLNIJ 5.95 6/2/2024 | 5.95% | 06/02/24 | 7.68% | 84.91 | 78.85 | 18 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 5/3/24 – 5/10/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | IHRT 8.375 5/1/2027 | 8.38% | 05/01/27 | -24.09% | 40.60 | 53.48 | 23 |
| 2 | HOV 5 2/1/2040 144A | 5.00% | 02/01/40 | -10.12% | 45.04 | 50.11 | 4 |
| 3 | UNIT 6 1/15/2030 144A | 6.00% | 01/15/30 | -8.51% | 71.74 | 78.41 | 20 |
| 4 | MLTPLN 5.75 11/1/2028 144A | 5.75% | 11/01/28 | -8.14% | 67.05 | 72.99 | 23 |
| 5 | CSCHLD 5 11/15/2031 | 5.00% | 11/15/31 | -7.85% | 37.52 | 40.72 | 24 |
| 6 | SFRFP 10.5 5/15/2027 144A | 10.50% | 05/15/27 | -6.69% | 34.58 | 37.06 | 7 |
| 7 | LGF 5.5 4/15/2029 144A | 5.50% | 04/15/29 | -6.39% | 71.25 | 76.12 | 22 |
| 8 | DBBYRB 6.75 5/2/2024 REGS | 6.75% | 05/02/24 | -5.54% | 44.68 | 47.30 | 7 |
| 9 | ZAYO 6.125 3/1/2028 | 6.13% | 03/01/28 | -5.52% | 62.86 | 66.53 | 27 |
| 10 | VOLCAN 4.375 2/11/2026 REGS | 4.38% | 02/11/26 | -5.01% | 64.95 | 68.38 | 18 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 5/3/24 – 5/10/24 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 5/3/24 – 5/10/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 5/3/24 vs. the week ending 5/10/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | FABSJV 5.875 1/25/2034 | 5.88% | 01/25/34 | 154 | 229 | 75 | 49% |
| 2 | LEBAN 6.15 6/19/2020 | 6.15% | 06/19/20 | 26 | 92 | 66 | 254% |
| 3 | FTHDGR 7.95 7/5/2022 | 7.95% | 07/05/22 | 40 | 100 | 60 | 150% |
| 4 | BCULC 4.375 1/15/2028 144A | 4.38% | 01/15/28 | 194 | 250 | 56 | 29% |
| 5 | AM 7.875 5/15/2026 144A | 7.88% | 05/15/26 | 227 | 281 | 54 | 24% |
| 6 | PK 7.5 6/1/2025 144A | 7.50% | 06/01/25 | 202 | 251 | 49 | 24% |
| 7 | F 4.867 8/3/2027 | 4.87% | 08/03/27 | 202 | 250 | 48 | 24% |
| 8 | PDCN 7.125 1/15/2026 144A | 7.13% | 01/15/26 | 176 | 220 | 44 | 25% |
| 9 | CIVI 5 10/15/2026 144A | 5.00% | 10/15/26 | 235 | 279 | 44 | 19% |
| 10 | GEL 6.25 5/15/2026 | 6.25% | 05/15/26 | 238 | 275 | 37 | 16% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 5/3/24 – 5/10/24
| 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 | 39 |
| 3 | INTNED 6.5 PERP | 6.50% | NULL | 37 |
| 4 | BACR 4.375 PERP | 4.38% | NULL | 37 |
| 5 | BACR 9.625 PERP | 9.63% | 12/15/99 | 36 |
| 6 | LLOYDS 7.5 PERP | 7.50% | NULL | 36 |
| 7 | BACR 6.125 PERP | 6.13% | NULL | 36 |
| 8 | INTNED 3.875 PERP | 3.88% | NULL | 35 |
| 9 | INTNED 5.75 PERP | 5.75% | NULL | 35 |
| 10 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 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 5/3/24 – 5/10/24
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