Corporates

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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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