Corporates

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High Yield Corporate Bond Market Summary:
Week Ending 6/14/24

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 Deal Information Banks Expected Issue Date
Brightspeed $1.865 billion senior secured notes Q3 2024
Copeland $950 million secured notes BCLY Q2 2024

Top 10 Performers

Showcases the top 10 HY Corp performers based on the largest bid price increases between 6/7/24 – 6/14/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 RAILUA 8.25 7/9/2026 8.25% 07/09/26 20.03% 76.34 63.60 17
2 NAFTO 7.125 7/19/2026 7.13% 07/19/26 19.17% 79.04 66.33 16
3 CSCHCN 9 12/11/2024 9.00% 12/11/24 18.25% 25.93 21.92 11
4 SATS 6.625 8/1/2026 6.63% 08/01/26 14.76% 45.19 39.38 24
5 HCELEC 4.65 12/29/2026 4.65% 12/29/26 14.46% 55.79 48.74 12
6 SBSAA 9.75 3/1/2026 144A 9.75% 03/01/26 12.24% 53.49 47.65 14
7 ARGENT 3.625 7/9/2035 3.63% 07/09/35 10.46% 43.73 39.59 28
8 ANDRGI 9 12/28/2029 REGS 5.00% 12/28/29 10.32% 36.02 32.65 7
9 GLPSP 4.5 PERP 7.92% NULL 9.61% 64.54 58.88 16
10 ROADKG 6 9/4/2025 6.00% 09/04/25 9.61% 33.67 30.72 23

Bottom 10 Performers

Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 6/7/24 – 6/14/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 EAGRUY 7.5 5/1/2025 REGS 7.50% 05/01/25 -22.15% 47.49 61.00 15
2 MLTPLN 5.75 11/1/2028 144A 5.75% 11/01/28 -10.67% 50.41 56.43 18
3 SSP 5.875 7/15/2027 144A 5.88% 07/15/27 -9.90% 60.82 67.50 19
4 HRGNO 11 2/23/2029 11.00% 02/23/29 -8.43% 47.69 52.08 5
5 EAF 4.625 12/15/2028 144A 4.63% 12/15/28 -8.09% 63.25 68.82 23
6 FONFP 5 3/31/2029 REGS 5.00% 03/31/29 -7.36% 72.56 78.32 16
7 HTZ 4.625 12/1/2026 144A 4.63% 12/01/26 -7.34% 74.13 80.00 27
8 INTRUM 4.875 8/15/2025 REGS 4.88% 08/15/25 -6.29% 77.46 82.65 24
9 BTSG 6.75 2/1/2027 6.75% 02/01/27 -5.80% 43.22 45.88 6
10 TRNSCM FLT 12/15/2026 REGS 9.16% 12/15/26 -5.75% 77.01 81.70 11

Avg Industry Price

Displays the HY Corp average industry price by sector between 6/7/24 – 6/14/24

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 6/7/24 – 6/14/24

Top Quote Volume Movers: This Week vs Last Week

Exhibits the HY Corps with the largest increase in quote volume for the week ending 6/7/24 vs. the week ending 6/14/24

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 AMWINS 6.375 2/15/2029 6.38% 02/15/29 36 127 91 253%
2 USFOOD 7.25 1/15/2032 144A 7.25% 01/15/32 128 218 90 70%
3 AXTA 7.25 2/15/2031 144A 7.25% 02/15/31 49 123 74 151%
4 HOWMID 6.75 1/15/2027 144A 6.75% 01/15/27 168 233 65 39%
5 ST 5 10/1/2025 144A 5.00% 10/01/25 53 105 52 98%
6 C 7.125 PERP 6.87% NULL 218 259 41 19%
7 PTSB 4.25 7/10/2030 4.25% 07/10/30 125 165 40 32%
8 ACRISU 10.125 8/1/2026 144A 10.13% 08/01/26 201 238 37 18%
9 MEDIND 6.25 4/1/2029 144A 6.25% 04/01/29 218 253 35 16%
10 BPL 4.5 3/1/2028 144A 4.50% 03/01/28 150 184 34 23%

Most Quoted HY Corps

Ranks the HY Corps that were quoted by the highest number of dealers between 6/7/24 – 6/14/24

RANK TRANCHE COUPON MATURITY DEALERS
1 BACR 8 PERP 8.00% 12/15/99 39
2 BACR 6.125 PERP 6.13% NULL 37
3 BACR 4.375 PERP 4.38% NULL 37
4 BNP 8.5 PERP REGS 8.50% 08/14/99 37
5 BACR 9.625 PERP 9.63% 12/15/99 37
6 DANBNK 7 PERP 7.00% NULL 36
7 INTNED 6.5 PERP 6.50% NULL 36
8 UBS 7 PERP 7.00% NULL 36
9 INTNED 3.875 PERP 3.88% NULL 36
10 LLOYDS 7.5 PERP 7.50% NULL 36

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 6/7/24 – 6/14/24

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