Corporates

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High Yield Corporate Bond Market Summary:
Week Ending 8/23/24

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 8/16/24 – 8/23/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 LUMN 7.6 9/15/2039 7.60% 09/15/39 20.49% 58.29 48.38 24
2 SSP 5.375 1/15/2031 144A 5.38% 01/15/31 13.88% 45.68 40.12 20
3 ABRAGF 11.5 3/2/2028 144A 11.50% 03/02/28 10.77% 105.45 95.20 14
4 EAF 9.875 12/15/2028 144A 9.88% 12/15/28 9.05% 80.63 73.94 7
5 KPERST 6.5 9/1/2026 REGS 6.50% 09/01/26 9.02% 71.66 65.73 19
6 TSE 5.125 4/1/2029 REGS 5.13% 04/01/29 8.87% 42.14 38.71 18
7 HLF 4.875 6/1/2029 144A 4.88% 06/01/29 8.62% 67.16 61.83 24
8 IHRT 5.25 8/15/2027 144A 5.25% 08/15/27 8.59% 64.22 59.14 19
9 RADIAT 6.5 9/15/2028 144A 6.50% 09/15/28 8.00% 54.90 50.83 21
10 EAF 4.625 12/15/2028 144A 4.63% 12/15/28 7.85% 70.03 64.93 22

Bottom 10 Performers

Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 8/16/24 – 8/23/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 CMGMCO 8.875 12/15/2027 144A 8.88% 12/15/27 -15.59% 49.97 59.20 16
2 GPSLI 7 8/15/2028 7.00% 08/15/28 -14.04% 61.23 71.23 16
3 CPS 5.625 11/15/2026 144A 5.63% 11/15/26 -7.41% 81.08 87.57 7
4 INCMBZ 5.75 7/17/2024 REGS 5.75% 07/17/24 -7.03% 60.96 65.57 17
5 WESCHI 4.95 7/8/2026 4.95% 07/08/26 -6.87% 75.13 80.67 18
6 ARGENT 3.875 7/9/2035 3.88% 07/09/35 -3.78% 37.80 39.29 14
7 HCELEC 4.65 12/29/2026 4.65% 12/29/26 -3.49% 48.82 50.59 16
8 ROADKG 6 3/4/2029 6.00% 09/04/25 -3.27% 39.50 40.84 7
9 NEXEOP 10.125 4/1/2026 144A 10.13% 04/01/26 -3.17% 88.48 91.38 13
10 M 4.3 2/15/2043 4.30% 02/15/43 -2.91% 67.64 69.67 22

Avg Industry Price

Displays the HY Corp average industry price by sector between 8/16/24 – 8/23/24

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 8/16/24 – 8/23/24

Top Quote Volume Movers: This Week vs Last Week

Exhibits the HY Corps with the largest increase in quote volume for the week ending 8/16/24 vs. the week ending 8/23/24

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 TIBX 8.25 6/30/2032 144A 8.25% 06/30/32 47 168 121 257%
2 CCOI 7 6/15/2027 144A 7.00% 06/15/27 68 169 101 149%
3 SUMMAT 7.25 1/15/2031 144A 7.25% 01/15/31 40 136 96 240%
4 BLURAC 7.25 7/15/2032 144A 7.25% 07/15/32 52 140 88 169%
5 UKRAIN FLT 8/1/2041 REGS 7.75% 08/01/41 60 147 87 145%
6 ENEDEV 5.662 7/3/2031 144A 5.66% 07/03/31 10 92 82 820%
7 WESODA 9.375 2/14/2031 144A 9.38% 02/14/31 50 126 76 152%
8 POWBUY 8.5 2/15/2031 144A 8.50% 02/15/31 81 153 72 89%
9 STYRO 9.625 3/15/2029 REGS 9.63% 03/15/29 52 120 68 131%
10 EIGI 11.75 10/15/2028 144A 11.75% 10/31/28 36 97 61 169%

Most Quoted HY Corps

Ranks the HY Corps that were quoted by the highest number of dealers between 8/16/24 – 8/23/24

RANK TRANCHE COUPON MATURITY DEALERS
1 BACR 4.375 PERP 4.38% NULL 40
2 BACR 6.125 PERP 6.13% NULL 40
3 INTNED 3.875 PERP 3.88% NULL 39
4 SANTAN 9.625 PERP 9.63% 11/21/99 39
5 INTNED 4.25 PERP 4.25% NULL 38
6 INTNED 7.5 PERP 7.50% 11/16/99 38
7 BACR 9.625 PERP 9.63% 12/15/99 38
8 INTNED 6.5 PERP 6.50% NULL 37
9 UBS 6.875 PERP 6.88% 12/29/49 37
10 LLOYDS 6.75 PERP 6.75% NULL 37

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 8/16/24 – 8/23/24

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