Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 5/17/24
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 5/10/24 – 5/17/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | FUTLAN 4.45 7/13/2025 | 4.45% | 07/13/25 | 26.59% | 68.41 | 54.04 | 16 |
| 2 | AMC 10 6/15/2026 144A | 10.00% | 06/15/26 | 21.29% | 85.36 | 70.38 | 20 |
| 3 | PBBGR 8.474 PERP | 8.47% | NULL | 20.51% | 57.13 | 47.41 | 25 |
| 4 | FTLNHD 4.625 10/15/2025 | 4.63% | 10/15/25 | 17.29% | 65.19 | 55.58 | 17 |
| 5 | TSE 5.125 4/1/2029 REGS | 5.13% | 04/01/29 | 17.24% | 33.81 | 28.84 | 18 |
| 6 | GLPSP 4.5 PERP | 7.92% | NULL | 15.14% | 56.53 | 49.10 | 15 |
| 7 | COMM 8.25 3/1/2027 144A | 8.25% | 03/01/27 | 13.22% | 43.91 | 38.78 | 23 |
| 8 | SBBBSS 2.624 PERP | 2.62% | NULL | 13.14% | 32.92 | 29.10 | 22 |
| 9 | ANDRGI 9 12/28/2029 REGS | 5.00% | 12/28/29 | 13.11% | 30.59 | 27.04 | 10 |
| 10 | CSCHLD 5 11/15/2031 | 5.00% | 11/15/31 | 11.26% | 41.75 | 37.52 | 23 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 5/10/24 – 5/17/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | IHRT 8.375 5/1/2027 | 8.38% | 05/01/27 | -25.42% | 30.28 | 40.60 | 26 |
| 2 | EMBARQ 7.995 6/1/2036 | 8.00% | 06/01/36 | -14.22% | 33.11 | 38.60 | 14 |
| 3 | FRAX 5.25 9/30/2028 144A | 5.25% | 09/30/28 | -11.22% | 57.64 | 64.92 | 21 |
| 4 | LOGM 5.5 5/1/2028 144A | 5.50% | 05/01/28 | -9.75% | 58.87 | 65.23 | 9 |
| 5 | INTLGR 6.125 4/1/2029 144A | 6.13% | 04/01/29 | -8.53% | 65.75 | 71.88 | 9 |
| 6 | ALTICE 4.75 1/15/2028 REGS | 4.75% | 01/15/28 | -8.47% | 59.01 | 64.48 | 20 |
| 7 | WW 4.5 4/15/2029 144A | 4.50% | 04/15/29 | -8.11% | 43.00 | 46.79 | 26 |
| 8 | ACPROD 6.375 5/15/2029 144A | 6.38% | 05/15/29 | -7.49% | 63.75 | 68.91 | 17 |
| 9 | LINTA 8.5 7/15/2029 | 8.50% | 07/15/29 | -7.35% | 54.80 | 59.15 | 21 |
| 10 | SSP 5.375 1/15/2031 144A | 5.38% | 01/15/31 | -6.08% | 52.61 | 56.02 | 23 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 5/10/24 – 5/17/24
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 5/10/24 – 5/17/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 5/10/24 vs. the week ending 5/17/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | SBH 6.75 3/1/2032 | 6.75% | 03/01/32 | 86 | 188 | 102 | 119% |
| 2 | TGE 9 8/1/2029 144A | 9.00% | 08/01/29 | 109 | 208 | 99 | 91% |
| 3 | LPLA 4.375 5/15/2031 144A | 4.38% | 05/15/31 | 69 | 116 | 47 | 68% |
| 4 | TMUS 3.5 4/15/2031 | 3.50% | 04/15/31 | 209 | 255 | 46 | 22% |
| 5 | BRSRBZ 5.375 1/28/2031 REGS | 5.38% | 01/28/31 | 76 | 119 | 43 | 57% |
| 6 | AXTA 7.25 2/15/2031 REGS | 7.25% | 02/15/31 | 168 | 208 | 40 | 24% |
| 7 | LPLA 4 3/15/2029 144A | 4.00% | 03/15/29 | 92 | 131 | 39 | 42% |
| 8 | RGCARE 9.75 12/1/2026 144A | 9.75% | 12/01/26 | 239 | 277 | 38 | 16% |
| 9 | FIREBC FLT 2/6/2028 REGS | 8.52% | 02/06/28 | 155 | 191 | 36 | 23% |
| 10 | MBGGR 3.25 1/10/2032 | 3.25% | 01/10/32 | 235 | 270 | 35 | 15% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 5/10/24 – 5/17/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | BACR 8 PERP | 8.00% | 12/15/99 | 39 |
| 2 | MTDR 5.875 9/15/2026 | 5.88% | 09/15/26 | 37 |
| 3 | BACR 9.625 PERP | 9.63% | 12/15/99 | 36 |
| 4 | INTNED 6.5 PERP | 6.50% | NULL | 36 |
| 5 | BACR 4.375 PERP | 4.38% | NULL | 36 |
| 6 | LLOYDS 7.5 PERP | 7.50% | NULL | 36 |
| 7 | UBS 7 PERP | 7.00% | NULL | 35 |
| 8 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 35 |
| 9 | BACR 6.125 PERP | 6.13% | NULL | 35 |
| 10 | INTNED 4.25 PERP | 4.25% | 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 5/10/24 – 5/17/24
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