Corporates

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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.

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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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