Corporates

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High Yield Corporate Bond Market Summary:
Week Ending 9/6/24

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
Focus Financial Partners LLC $700 million senior secured notes due 2031 (B2/B+) RBC Week of Sept. 9th
Shearer’s Foods $400 million senior notes due 2032 (Caa2/CCC+) DB Week of Sept. 9th

Top 10 Performers

Showcases the top 10 HY Corp performers based on the largest bid price increases between 8/30/24 – 9/6/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 CSCHLD 7.5 4/1/2028 144A 7.50% 04/01/28 21.49% 56.91 46.84 19
2 BELRUS 5.875 2/24/2026 REGS 5.88% 02/24/26 17.67% 54.85 46.62 8
3 LUMN 4.5 1/15/2029 144A 4.50% 01/15/29 15.86% 66.61 57.49 21
4 LVLT 3.4 3/1/2027 144A 3.40% 03/01/27 15.52% 90.38 78.23 18
5 DISH 5.125 6/1/2029 5.13% 06/01/29 14.33% 52.53 45.94 19
6 QWECOM 6.875 7/15/2028 6.88% 07/15/28 8.36% 66.79 61.64 6
7 FYBR 6 1/15/2030 144A 6.00% 01/15/30 8.19% 100.07 92.50 26
8 UNIT 6.5 2/15/2029 144A 6.50% 02/15/29 8.12% 83.25 77.00 24
9 TOWHEA 4.451 2/1/2050 4.45% 02/01/50 7.55% 63.13 58.70 5
10 WOMCHI 4.7 1/22/2028 REGS 4.70% 01/22/28 7.14% 58.69 54.78 16

Bottom 10 Performers

Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 8/30/24 – 9/6/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 BUENOS 4.5 9/1/2037 144A 4.50% 09/01/37 -13.43% 31.82 36.76 5
2 BLT 7.875 10/15/2029 144A 7.88% 10/15/29 -13.21% 38.50 44.36 15
3 NWDEVL 4.8 PERP 4.80% NULL -10.43% 40.73 45.47 19
4 LIHHK 4.8 6/18/2026 4.80% 06/18/26 -8.30% 83.65 91.23 16
5 WESCHI 4.95 7/8/2026 4.95% 07/08/26 -7.49% 68.90 74.48 19
6 TALKLN 3.875 2/20/2025 3.88% 02/20/25 -7.25% 68.64 74.00 16
7 SAFFA FLT 4/15/2029 REGS 8.72% 04/15/29 -7.01% 91.37 98.26 7
8 ATALIA 8.5 6/30/2028 8.50% 06/30/28 -6.61% 53.24 57.01 6
9 DDMDEB 9 4/19/2026 9.00% 04/19/26 -6.38% 57.61 61.54 9
10 ATLNSA 3.5 4/30/2028 REGS 3.50% 04/30/28 -4.88% 76.58 80.51 20

Avg Industry Price

Displays the HY Corp average industry price by sector between 8/30/24 – 9/6/24

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 8/30/24 – 9/6/24

Top Quote Volume Movers: This Week vs Last Week

Exhibits the HY Corps with the largest increase in quote volume for the week ending 8/30/24 vs. the week ending 9/6/24

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 GEN 5 4/15/2025 144A 5.00% 04/15/25 67 154 87 130%
2 VIRIFP 8.75 4/1/2027 144A 8.75% 04/01/27 113 198 85 75%
3 CPS 10.625 5/15/2027 REGS 10.63% 05/15/27 17 77 60 353%
4 MLRHOM FLT 5/15/2028 144A 0.00% 05/15/28 26 82 56 215%
5 VICTRA 7.75 2/15/2026 144A 7.75% 02/15/26 60 114 54 90%
6 FE 4.55 11/15/2030 144A 4.55% 11/15/30 100 150 50 50%
7 BRP 7.125 5/15/2031 REGS 7.13% 05/15/31 54 100 46 85%
8 PRGO 4.9 12/15/2044 4.90% 12/15/44 55 101 46 84%
9 MVFPSO 6.748 6/1/2034 REGS 6.75% 06/01/34 168 204 36 21%
10 BNP 7.375 PERP 7.38% 12/11/99 296 331 35 12%

Most Quoted HY Corps

Ranks the HY Corps that were quoted by the highest number of dealers between 8/30/24 – 9/6/24

RANK TRANCHE COUPON MATURITY DEALERS
1 BACR 6.125 PERP 6.13% NULL 38
2 SANTAN 9.625 PERP 9.63% 11/21/99 38
3 BNP 7.375 PERP 7.38% 12/11/99 37
4 BACR 4.375 PERP 4.38% NULL 37
5 INTNED 3.875 PERP 3.88% NULL 36
6 DB 7.5 PERP 7.50% NULL 35
7 INTNED 5.75 PERP 5.75% NULL 35
8 LLOYDS 6.75 PERP 6.75% NULL 35
9 IGT 6.5 2/15/2025 144A 6.50% 02/15/25 35
10 BACR 9.625 PERP 9.63% 12/15/99 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 8/30/24 – 9/6/24

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