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High Yield Corporate Bond Market Summary:
Week Ending 8/30/24
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 8/23/24 – 8/30/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | HSEFIN 5.625 10/15/2026 REGS | 5.63% | 10/15/26 | 18.51% | 35.95 | 30.34 | 16 |
| 2 | CFIELD 6.625 8/1/2026 144A | 6.63% | 08/01/26 | 15.33% | 59.73 | 51.80 | 16 |
| 3 | CPIPGR 3.75 PERP | 3.75% | NULL | 14.51% | 64.17 | 56.04 | 17 |
| 4 | SATS 6.625 8/1/2026 | 6.63% | 08/01/26 | 10.51% | 54.61 | 49.42 | 18 |
| 5 | HILOHO 9.75 11/18/2024 144A | 9.75% | 11/18/24 | 10.11% | 54.22 | 49.24 | 13 |
| 6 | LUMN 5.375 6/15/2029 144A | 5.38% | 06/15/29 | 9.08% | 59.48 | 54.53 | 18 |
| 7 | HEIBOS 3 PERP | 3.00% | NULL | 8.12% | 73.70 | 68.16 | 22 |
| 8 | BELRUS 7.625 6/29/2027 REGS | 7.63% | 06/29/27 | 8.09% | 45.74 | 42.31 | 7 |
| 9 | CUMINT 6.75 7/1/2026 144A | 6.75% | 07/01/26 | 7.94% | 79.98 | 74.10 | 9 |
| 10 | ARGBON 3.625 7/9/2035 | 0.13% | 07/09/35 | 7.31% | 44.40 | 41.38 | 4 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 8/23/24 – 8/30/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | EVA 6.5 1/15/2026 144A | 6.50% | 01/15/26 | -32.29% | 28.90 | 42.68 | 12 |
| 2 | MVMOFB 9.875 4/8/2026 REGS | 9.88% | 04/08/26 | -21.98% | 66.21 | 84.86 | 17 |
| 3 | AZUBBZ 11.5 5/28/2029 144A | 11.50% | 05/28/29 | -16.36% | 61.64 | 73.70 | 16 |
| 4 | UNSTSV 8 11/15/2029 144A | 8.00% | 11/15/29 | -12.19% | 36.25 | 41.28 | 15 |
| 5 | GTN 4.75 10/15/2030 144A | 4.75% | 10/15/30 | -6.74% | 57.31 | 61.46 | 26 |
| 6 | HLF 4.875 6/1/2029 144A | 4.88% | 06/01/29 | -5.37% | 63.56 | 67.16 | 23 |
| 7 | EAF 4.625 12/15/2028 144A | 4.63% | 12/15/28 | -4.53% | 66.85 | 70.03 | 23 |
| 8 | ROADKG 5.125 1/26/2030 | 5.13% | 07/26/26 | -3.71% | 35.77 | 37.15 | 7 |
| 9 | SRILAN 6.85 11/3/2025 REGS | 6.85% | 11/03/25 | -3.55% | 53.57 | 55.54 | 19 |
| 10 | MERC 5.125 2/1/2029 | 5.13% | 02/01/29 | -3.53% | 81.33 | 84.30 | 26 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 8/23/24 – 8/30/24
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 8/23/24 – 8/30/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 8/23/24 vs. the week ending 8/30/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | FLTR 6.375 4/29/2029 144A | 6.38% | 04/30/29 | 64 | 122 | 58 | 91% |
| 2 | SMYREA 8.875 11/15/2031 REGS | 8.88% | 11/30/31 | 71 | 128 | 57 | 80% |
| 3 | OCINCC 6.65 3/15/2031 | 6.65% | 03/15/31 | 126 | 175 | 49 | 39% |
| 4 | TELIAS 4.625 12/21/2082 | 4.63% | 12/21/82 | 168 | 217 | 49 | 29% |
| 5 | TGE 9 8/1/2029 REGS | 9.00% | 08/01/29 | 93 | 138 | 45 | 48% |
| 6 | STENOR 7.375 6/1/2031 144A | 7.38% | 06/01/31 | 97 | 139 | 42 | 43% |
| 7 | EXLINT 11.5 4/15/2026 144A | 11.50% | 04/15/26 | 44 | 85 | 41 | 93% |
| 8 | BRP 7.125 5/15/2031 144A | 7.13% | 05/15/31 | 92 | 130 | 38 | 41% |
| 9 | PRAA 7.375 9/1/2025 144A | 7.38% | 09/01/25 | 156 | 194 | 38 | 24% |
| 10 | BRANDI 10.375 8/1/2030 144A | 10.38% | 07/31/30 | 106 | 142 | 36 | 34% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 8/23/24 – 8/30/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | BACR 6.125 PERP | 6.13% | NULL | 38 |
| 2 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 37 |
| 3 | BACR 4.375 PERP | 4.38% | NULL | 37 |
| 4 | BACR 9.625 PERP | 9.63% | 12/15/99 | 36 |
| 5 | INTNED 3.875 PERP | 3.88% | NULL | 36 |
| 6 | UBS 7 PERP | 7.00% | NULL | 35 |
| 7 | OXY 5.55 10/1/2034 | 5.55% | 10/01/34 | 35 |
| 8 | OXY 6.05 10/1/2054 | 6.05% | 10/01/54 | 35 |
| 9 | LLOYDS 6.75 PERP | 6.75% | NULL | 35 |
| 10 | INTNED 6.5 PERP | 6.50% | 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 8/23/24 – 8/30/24
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