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High Yield Corporate Bond Market Summary:
Week Ending 6/28/24
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 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 6/21/24 – 6/28/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | LMRTSP 8.096 PERP | 8.10% | NULL | 40.14% | 55.38 | 39.52 | 12 |
| 2 | MDLNIJ 5 6/30/2025 | 5.00% | 06/30/25 | 34.40% | 48.51 | 36.09 | 5 |
| 3 | VTRFIN 6.375 7/15/2028 REGS | 6.38% | 07/15/28 | 18.72% | 87.32 | 73.55 | 22 |
| 4 | VTRCOM 5.125 1/15/2028 REGS | 5.13% | 01/15/28 | 14.28% | 90.69 | 79.36 | 24 |
| 5 | EAGRUY 7.5 5/1/2025 REGS | 7.50% | 05/01/25 | 11.84% | 58.03 | 51.89 | 14 |
| 6 | MLTPLN 5.5 9/1/2028 144A | 5.50% | 09/01/28 | 10.90% | 75.00 | 67.63 | 21 |
| 7 | ROADKG 5.2 1/12/2026 | 5.20% | 01/12/26 | 10.82% | 32.14 | 29.00 | 22 |
| 8 | SSP 5.375 1/15/2031 144A | 5.38% | 01/15/31 | 10.52% | 44.20 | 40.00 | 19 |
| 9 | TITNNL 5.125 7/15/2029 REGS | 5.13% | 07/15/29 | 9.81% | 100.89 | 91.88 | 16 |
| 10 | NWDEVL 4.125 PERP | 4.13% | NULL | 9.20% | 61.28 | 56.11 | 18 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 6/21/24 – 6/28/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | LUMN 7.6 9/15/2039 | 7.60% | 09/15/39 | -15.11% | 27.54 | 32.44 | 15 |
| 2 | IHRT 8.375 5/1/2027 | 8.38% | 05/01/27 | -10.87% | 36.41 | 40.85 | 26 |
| 3 | SPRIND 6.5 10/1/2029 144A | 6.50% | 10/01/29 | -10.72% | 53.13 | 59.51 | 17 |
| 4 | ALNMED 10.5 2/15/2028 | 10.50% | 02/15/28 | -9.08% | 43.75 | 48.12 | 14 |
| 5 | CUMINT 8 7/1/2029 144A | 8.00% | 07/01/29 | -9.02% | 42.94 | 47.19 | 11 |
| 6 | PDLLN 9.75 3/8/2026 144A | 9.75% | 03/08/26 | -8.47% | 66.21 | 72.34 | 3 |
| 7 | CSCHLD 4.625 12/1/2030 144A | 4.63% | 12/01/30 | -8.08% | 36.49 | 39.70 | 23 |
| 8 | CYH 6.125 4/1/2030 144A | 6.13% | 04/01/30 | -7.24% | 69.15 | 74.54 | 22 |
| 9 | WW 4.5 4/15/2029 144A | 4.50% | 04/15/29 | -6.49% | 38.67 | 41.36 | 20 |
| 10 | INCMBZ 5.75 7/17/2024 REGS | 5.75% | 07/17/24 | -6.29% | 69.14 | 73.78 | 20 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 6/21/24 – 6/28/24
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 6/21/24 – 6/28/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 6/21/24 vs. the week ending 6/28/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | MIK 7.875 5/1/2029 REGS | 7.88% | 05/01/29 | 10 | 242 | 232 | 2320% |
| 2 | PDVSA 6 5/16/2024 144A | 6.00% | 05/16/24 | 14 | 109 | 95 | 679% |
| 3 | SPLS 10.75 8/31/2029 144A | 10.75% | 08/31/29 | 116 | 211 | 95 | 82% |
| 4 | BANBRA 8.748 PERP 144A | 8.75% | NULL | 52 | 140 | 88 | 169% |
| 5 | UBS 4.375 PERP | 4.38% | NULL | 82 | 160 | 78 | 95% |
| 6 | BACR 8 PERP | 8.00% | NULL | 310 | 361 | 51 | 16% |
| 7 | SOCGEN 8.5 PERP 144A | 8.50% | NULL | 225 | 275 | 50 | 22% |
| 8 | FREMOR 9.125 5/15/2031 144A | 9.13% | 05/15/31 | 144 | 189 | 45 | 31% |
| 9 | APA 5.1 9/1/2040 | 5.10% | 09/01/40 | 176 | 216 | 40 | 23% |
| 10 | SRSDIS 6.125 7/1/2029 144A | 6.13% | 07/01/29 | 206 | 245 | 39 | 19% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 6/21/24 – 6/28/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | BACR 9.625 PERP | 9.63% | 12/15/99 | 39 |
| 2 | BACR 8 PERP | 8.00% | 12/15/99 | 39 |
| 3 | BACR 6.125 PERP | 6.13% | NULL | 38 |
| 4 | BACR 4.375 PERP | 4.38% | NULL | 37 |
| 5 | UBS 7 PERP | 7.00% | NULL | 37 |
| 6 | DANBNK 7 PERP | 7.00% | NULL | 36 |
| 7 | BACR 8 PERP | 8.00% | NULL | 36 |
| 8 | INTNED 6.5 PERP | 6.50% | NULL | 36 |
| 9 | BNP 8.5 PERP REGS | 8.50% | 08/14/99 | 36 |
| 10 | INTNED 3.875 PERP | 3.88% | 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 6/21/24 – 6/28/24
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