Corporates

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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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