High Yield Corporate Bond Market Summary – Week Ending 8/2/24
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High Yield Corporate Bond Market Summary: Week Ending 8/2/24
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 7/26/24 – 8/2/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | TOWHEA 4.451 2/1/2050 | 4.45% | 02/01/50 | 23.99% | 59.50 | 47.99 | 4 |
| 2 | LVLT 3.75 7/15/2029 144A | 3.75% | 07/15/29 | 23.79% | 47.66 | 38.50 | 19 |
| 3 | LUMN 4 2/15/2027 144A | 4.00% | 02/15/27 | 21.22% | 65.34 | 53.91 | 17 |
| 4 | QWECOM 6.875 7/15/2028 | 6.88% | 07/15/28 | 16.17% | 45.87 | 39.48 | 5 |
| 5 | COMM 7.125 7/1/2028 144A | 7.13% | 07/01/28 | 15.06% | 63.43 | 55.13 | 21 |
| 6 | UNIT 6 1/15/2030 144A | 6.00% | 01/15/30 | 11.92% | 73.60 | 65.76 | 20 |
| 7 | NWDEVL 4.8 PERP | 4.80% | NULL | 10.57% | 48.03 | 43.43 | 16 |
| 8 | INCMBZ 5.75 7/17/2024 REGS | 5.75% | 07/17/24 | 10.44% | 72.73 | 65.85 | 19 |
| 9 | IHRT 8.375 5/1/2027 | 8.38% | 05/01/27 | 10.44% | 42.38 | 38.38 | 23 |
| 10 | ARGID 4.75 7/15/2027 REGS | 4.75% | 07/15/27 | 9.20% | 54.52 | 49.92 | 21 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 7/26/24 – 8/2/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | WW 4.5 4/15/2029 144A | 4.50% | 04/15/29 | -28.01% | 27.40 | 38.06 | 16 |
| 2 | MLTPLN 5.75 11/1/2028 144A | 5.75% | 11/01/28 | -11.97% | 52.75 | 59.93 | 22 |
| 3 | SSP 5.375 1/15/2031 144A | 5.38% | 01/15/31 | -11.92% | 44.60 | 50.63 | 18 |
| 4 | WHLPRO 6.5 5/11/2028 144A | 6.50% | 05/11/28 | -8.96% | 35.04 | 38.49 | 6 |
| 5 | NAFTO 7.125 7/19/2026 | 7.13% | 07/19/26 | -8.17% | 75.23 | 81.93 | 15 |
| 6 | MIK 7.875 5/1/2029 144A | 7.88% | 05/01/29 | -7.44% | 55.50 | 59.96 | 27 |
| 7 | ESGR 5.5 1/15/2042 | 8.30% | 01/15/42 | -7.21% | 89.54 | 96.50 | 15 |
| 8 | CNECN 5.75 11/24/2028 144A | 5.75% | 11/24/28 | -6.54% | 47.77 | 51.11 | 20 |
| 9 | ROADKG 7.75 PERP | 7.75% | NULL | -6.17% | 27.09 | 28.87 | 19 |
| 10 | SSP 3.875 1/15/2029 144A | 3.88% | 01/15/29 | -5.79% | 65.39 | 69.41 | 20 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 7/26/24 – 8/2/24 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 7/26/24 – 8/2/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 7/26/24 vs. the week ending 8/2/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | PDVSA 6 5/16/2024 REGS | 6.00% | 05/16/24 | 12 | 206 | 194 | 1617% |
| 2 | VENZ 13.625 8/15/2018 REGS | 13.63% | 08/15/18 | 6 | 145 | 139 | 2317% |
| 3 | UKRAIN 7.75 9/1/2025 | 7.75% | 09/01/25 | 2 | 138 | 136 | 6800% |
| 4 | UKRAIN 7.75 9/1/2024 | 7.75% | 09/01/24 | 24 | 156 | 132 | 550% |
| 5 | CRK 6.75 3/1/2029 144A | 6.75% | 03/01/29 | 130 | 201 | 71 | 55% |
| 6 | VAKBN 5.25 2/5/2025 REGS | 5.25% | 02/05/25 | 85 | 148 | 63 | 74% |
| 7 | TLWLN 7 3/1/2025 144A | 7.00% | 03/01/25 | 50 | 110 | 60 | 120% |
| 8 | CCK 4.75 3/15/2029 REGS | 4.75% | 03/15/29 | 133 | 192 | 59 | 44% |
| 9 | STYRO 2.25 1/16/2027 REGS | 2.25% | 01/16/27 | 167 | 223 | 56 | 34% |
| 10 | VICI 4.95 2/15/2030 | 4.95% | 02/15/30 | 116 | 171 | 55 | 47% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 7/26/24 – 8/2/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | BACR 4.375 PERP | 4.38% | NULL | 39 |
| 2 | BACR 6.125 PERP | 6.13% | NULL | 38 |
| 3 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 36 |
| 4 | INTNED 3.875 PERP | 3.88% | NULL | 36 |
| 5 | OXY 5.55 10/1/2034 | 5.55% | 10/01/34 | 36 |
| 6 | OXY 6.05 10/1/2054 | 6.05% | 10/01/54 | 36 |
| 7 | SOCGEN 8 PERP REGS | 8.00% | NULL | 36 |
| 8 | BACR 9.625 PERP | 9.63% | 12/15/99 | 36 |
| 9 | UBS 6.875 PERP | 6.88% | 12/29/49 | 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 7/26/24 – 8/2/24
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