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High Yield Corporate Bond Market Summary:
Week Ending 7/5/24
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 6/28/24 – 7/5/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | ROADKG 7.75 PERP | 7.75% | NULL | 40.74% | 25.24 | 17.93 | 19 |
| 2 | MDLNIJ 5 4/30/2027 | 5.00% | 04/30/27 | 23.46% | 41.91 | 33.94 | 13 |
| 3 | EAF 4.625 12/15/2028 144A | 4.63% | 12/15/28 | 10.78% | 69.05 | 62.33 | 28 |
| 4 | RADPAR 9.781 2/15/2030 144A | 9.78% | 02/15/30 | 6.58% | 85.19 | 79.93 | 9 |
| 5 | ILAPCL 11 6/15/2033 144A | 11.00% | 06/15/33 | 6.10% | 95.51 | 90.02 | 11 |
| 6 | MLTPLN 5.75 11/1/2028 144A | 5.75% | 11/01/28 | 5.03% | 53.29 | 50.74 | 21 |
| 7 | ATLNSA 3.5 4/30/2028 REGS | 3.50% | 04/30/28 | 4.75% | 80.02 | 76.39 | 21 |
| 8 | RADIAT 6.5 9/15/2028 144A | 6.50% | 09/15/28 | 4.67% | 50.24 | 48.00 | 20 |
| 9 | SATS 6.625 8/1/2026 | 6.63% | 08/01/26 | 4.32% | 48.46 | 46.45 | 22 |
| 10 | BTSG 6.75 2/1/2027 | 6.75% | 02/01/27 | 3.94% | 45.66 | 43.93 | 6 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 6/28/24 – 7/5/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | HSEFIN FLT 10/15/2026 REGS | 9.45% | 10/15/26 | -15.53% | 42.90 | 50.79 | 12 |
| 2 | HOME 7.125 5/12/2028 144A | 7.13% | 05/12/28 | -8.90% | 39.02 | 42.83 | 5 |
| 3 | PROGST 3.25 12/15/2024 REGS | 3.25% | 12/15/24 | -6.63% | 27.12 | 29.04 | 15 |
| 4 | UKRAIN 6.876 5/21/2031 REGS | 6.88% | 05/21/31 | -6.25% | 26.71 | 28.49 | 20 |
| 5 | SBGI 5.5 3/1/2030 144A | 5.50% | 03/01/30 | -5.87% | 61.75 | 65.60 | 20 |
| 6 | ARGBON 4.25 1/9/2038 | 2.00% | 01/09/38 | -5.65% | 43.16 | 45.74 | 4 |
| 7 | UONE 7.375 2/1/2028 144A | 7.38% | 02/01/28 | -4.99% | 73.77 | 77.65 | 17 |
| 8 | ANDRGI 9 12/28/2029 REGS | 5.00% | 12/28/29 | -4.09% | 34.74 | 36.22 | 8 |
| 9 | ARGENT 3.625 7/9/2046 | 3.63% | 07/09/46 | -3.86% | 42.27 | 43.96 | 26 |
| 10 | INTRUM FLT 9/12/2025 | 8.30% | 09/12/25 | -3.86% | 74.98 | 77.99 | 3 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 6/28/24 – 7/5/24
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 6/28/24 – 7/5/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 6/28/24 vs. the week ending 7/5/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | THAMES 4.625 5/19/2026 REGS | 4.63% | 05/19/26 | 77 | 163 | 86 | 112% |
| 2 | MIK 7.875 5/1/2029 REGS | 7.88% | 05/01/29 | 242 | 300 | 58 | 24% |
| 3 | SGCAZE 6.875 3/24/2026 REGS | 6.88% | 03/24/26 | 100 | 158 | 58 | 58% |
| 4 | OSCHAD 9.625 3/20/2025 REGS | 9.63% | 03/20/25 | 38 | 92 | 54 | 142% |
| 5 | REPVEN 9.25 9/15/2027 | 9.25% | 09/15/27 | 84 | 135 | 51 | 61% |
| 6 | CPICAR 8.625 3/15/2026 144A | 8.63% | 03/15/26 | 116 | 159 | 43 | 37% |
| 7 | BBWI 6.875 11/1/2035 | 6.88% | 11/01/35 | 184 | 224 | 40 | 22% |
| 8 | ADVZCN 5 4/1/2028 144A | 5.00% | 04/01/28 | 102 | 136 | 34 | 33% |
| 9 | REPVEN 7 3/31/2038 | 7.00% | 03/31/38 | 96 | 130 | 34 | 35% |
| 10 | CRELAN 6 2/28/2030 | 6.00% | 02/28/30 | 174 | 207 | 33 | 19% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 6/28/24 – 7/5/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | BACR 8 PERP | 8.00% | 12/15/99 | 39 |
| 2 | BACR 6.125 PERP | 6.13% | NULL | 39 |
| 3 | BACR 9.625 PERP | 9.63% | 12/15/99 | 39 |
| 4 | UBS 7 PERP | 7.00% | NULL | 37 |
| 5 | BACR 4.375 PERP | 4.38% | NULL | 37 |
| 6 | BACR 8 PERP | 8.00% | NULL | 36 |
| 7 | BNP 8.5 PERP REGS | 8.50% | 08/14/99 | 36 |
| 8 | INTNED 6.5 PERP | 6.50% | NULL | 36 |
| 9 | UBS 6.875 PERP | 6.88% | 12/29/49 | 35 |
| 10 | DANBNK 7 PERP | 7.00% | 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 6/28/24 – 7/5/24
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