High Yield Corporate Bond Market Summary – Week Ending 9/13/24
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High Yield Corporate Bond Market Summary: Week Ending 9/13/24
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 | |
| Help at Home | $600 million senior secured noted due 2031 | BofA | Q3 2023 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 9/6/24 – 9/13/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | AVP 8.45 3/15/2043 | 8.95% | 03/15/43 | 33.60% | 53.91 | 40.35 | 2 |
| 2 | HOME 4.875 7/15/2028 144A | 4.88% | 07/15/28 | 18.80% | 39.07 | 32.89 | 10 |
| 3 | MVMOFB 9.875 4/8/2026 REGS | 9.88% | 04/08/26 | 14.60% | 78.88 | 68.83 | 18 |
| 4 | ARGID 5.25 8/15/2027 144A | 5.25% | 08/15/27 | 13.66% | 71.04 | 62.50 | 7 |
| 5 | IHRT 4.75 1/15/2028 144A | 4.75% | 01/15/28 | 11.27% | 62.67 | 56.32 | 20 |
| 6 | ACPROD 6.375 5/15/2029 144A | 6.38% | 05/15/29 | 10.93% | 57.68 | 52.00 | 19 |
| 7 | LUMN 5.125 12/15/2026 144A | 5.13% | 12/15/26 | 10.18% | 94.82 | 86.06 | 19 |
| 8 | RADIAT 6.5 9/15/2028 144A | 6.50% | 09/15/28 | 9.95% | 61.02 | 55.50 | 19 |
| 9 | ARNDTN 7.747 PERP | 7.75% | NULL | 9.21% | 78.48 | 71.86 | 11 |
| 10 | ALNMED 10.5 2/15/2028 | 10.50% | 02/15/28 | 8.68% | 42.41 | 39.02 | 13 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 9/6/24 – 9/13/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | ATALIA 8.5 6/30/2028 | 8.50% | 06/30/28 | -17.94% | 43.69 | 53.24 | 11 |
| 2 | FRAX 7.5 9/30/2029 144A | 7.50% | 09/30/29 | -11.08% | 43.23 | 48.61 | 16 |
| 3 | MODV 5 10/1/2029 144A | 5.00% | 10/01/29 | -8.81% | 67.25 | 73.75 | 21 |
| 4 | TALKLN 3.875 2/20/2025 | 3.88% | 02/20/25 | -7.90% | 63.22 | 68.64 | 17 |
| 5 | HTZ 5 12/1/2029 144A | 5.00% | 12/01/29 | -7.63% | 60.62 | 65.63 | 29 |
| 6 | MLTPLN 5.75 11/1/2028 144A | 5.75% | 11/01/28 | -7.20% | 42.13 | 45.40 | 23 |
| 7 | NWDEVL 4.125 7/18/2029 | 4.13% | 07/18/29 | -7.09% | 67.36 | 72.50 | 22 |
| 8 | FECCN 7.875 6/21/2028 REGS | 7.88% | 06/21/28 | -6.61% | 76.16 | 81.55 | 5 |
| 9 | NFE 8.75 3/15/2029 144A | 8.75% | 03/15/29 | -6.18% | 77.62 | 82.73 | 23 |
| 10 | AZUBBZ 10.875 5/28/2030 144A | 10.88% | 05/28/30 | -6.15% | 57.82 | 61.61 | 19 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 9/6/24 – 9/13/24 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 9/6/24 – 9/13/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 9/6/24 vs. the week ending 9/13/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | VENZ 13.625 8/15/2018 | 13.63% | 08/15/18 | 4 | 97 | 93 | 2325% |
| 2 | VICTRA 7.75 2/15/2026 144A | 7.75% | 02/15/26 | 114 | 195 | 81 | 71% |
| 3 | ILDFP 6.875 4/15/2031 | 6.88% | 04/15/31 | 20 | 100 | 80 | 400% |
| 4 | PICSUR 6.375 7/1/2029 REGS | 6.38% | 07/01/29 | 103 | 181 | 78 | 76% |
| 5 | PFLEID 4.75 4/15/2029 144A | 4.75% | 04/15/29 | 44 | 107 | 63 | 143% |
| 6 | GEN 5 4/15/2025 144A | 5.00% | 04/15/25 | 154 | 214 | 60 | 39% |
| 7 | GAMENT 5.375 6/1/2030 REGS | 5.38% | 06/01/30 | 101 | 160 | 59 | 58% |
| 8 | M 7 2/15/2028 | 7.00% | 02/15/28 | 84 | 139 | 55 | 65% |
| 9 | NSINTW 3.75 6/28/2034 | 3.75% | 06/28/34 | 12 | 66 | 54 | 450% |
| 10 | M 6.79 7/15/2027 | 6.79% | 07/15/27 | 63 | 117 | 54 | 86% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 9/6/24 – 9/13/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 36 |
| 2 | SANTAN 8 PERP | 8.20% | NULL | 36 |
| 3 | BNP 7.375 PERP | 7.38% | 12/11/99 | 35 |
| 4 | BACR 4.375 PERP | 4.38% | NULL | 35 |
| 5 | BACR 6.125 PERP | 6.13% | NULL | 35 |
| 6 | F 5.125 11/5/2026 | 5.13% | 11/05/26 | 35 |
| 7 | INTNED 4.875 PERP | 4.88% | NULL | 34 |
| 8 | INTNED 3.875 PERP | 3.88% | NULL | 34 |
| 9 | INTNED 4.25 PERP | 4.25% | NULL | 34 |
| 10 | UBS 7 PERP | 7.00% | NULL | 34 |
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 9/6/24 – 9/13/24
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