Corporates

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High Yield Corporate Bond Market Summary:
Week Ending 9/20/24

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
Petsafe $775 million senior secured notes UBS Q3 2024

Top 10 Performers

Showcases the top 10 HY Corp performers based on the largest bid price increases between 9/13/24 – 9/20/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 BHCCN 5 1/30/2028 144A 5.00% 01/30/28 20.86% 66.00 54.61 17
2 DISH 7.375 7/1/2028 7.38% 07/01/28 14.72% 67.00 58.41 22
3 SPRIND 6.5 10/1/2029 144A 6.50% 10/01/29 14.42% 61.99 54.18 15
4 SATS 6.625 8/1/2026 6.63% 08/01/26 14.10% 72.91 63.90 22
5 SBBBSS 2.624 PERP 2.62% NULL 12.41% 43.02 38.27 20
6 SSP 5.375 1/15/2031 144A 5.38% 01/15/31 11.00% 48.06 43.29 21
7 HOUS 5.75 1/15/2029 144A 5.75% 01/15/29 10.37% 84.22 76.31 19
8 GTN 4.75 10/15/2030 144A 4.75% 10/15/30 10.23% 61.73 56.00 26
9 HTZ 5 12/1/2029 144A 5.00% 12/01/29 9.77% 66.54 60.62 28
10 ELSALV 7.1246 1/20/2050 REGS 7.12% 01/20/50 9.52% 73.65 67.24 21

Bottom 10 Performers

Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 9/13/24 – 9/20/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 SFRFP 4 2/15/2028 REGS 4.00% 02/15/28 -8.36% 25.72 28.07 17
2 DIGFIN 4.6956 12/31/2049 4.70% 12/31/49 -6.94% 71.32 76.64 10
3 VSAT 7.5 5/30/2031 144A 7.50% 05/30/31 -6.51% 73.62 78.75 21
4 SZUGR 0 PERP 6.54% NULL -6.23% 93.72 99.95 14
5 CERBA 5 5/31/2029 REGS 5.00% 05/31/29 -5.68% 62.14 65.88 21
6 CNECN 5.75 11/24/2028 144A 5.75% 11/24/28 -5.41% 56.81 60.06 24
7 ROADKG 6 3/4/2029 6.00% 09/04/25 -3.13% 36.98 38.18 7
8 MODV 5 10/1/2029 144A 5.00% 10/01/29 -2.95% 65.27 67.25 25
9 THAMES 4 4/18/2027 4.00% 04/18/27 -2.85% 74.55 76.74 25
10 LUMN 4 2/15/2027 144A 4.00% 02/15/27 -2.84% 88.95 91.55 20

Avg Industry Price

Displays the HY Corp average industry price by sector between 9/13/24 – 9/20/24

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 9/13/24 – 9/20/24

Top Quote Volume Movers: This Week vs Last Week

Exhibits the HY Corps with the largest increase in quote volume for the week ending 9/13/24 vs. the week ending 9/20/24

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 MODV 5 10/1/2029 144A 5.00% 10/01/29 201 253 52 26%
2 PBRXIJ 7.625 12/31/2025 7.63% 12/31/25 42 90 48 114%
3 RWNYNY 3.3 2/15/2026 144A 3.30% 02/15/26 225 273 48 21%
4 PRGO 4.375 3/15/2026 4.38% 03/15/26 73 115 42 58%
5 CMPR 7 6/15/2026 7.00% 06/15/26 106 148 42 40%
6 ISATLN 6.75 10/1/2026 144A 6.75% 10/01/26 102 143 41 40%
7 PROFUN 6.375 6/15/2025 144A 6.38% 06/15/25 115 156 41 36%
8 SOLV 5.45 2/25/2027 144A 5.45% 02/25/27 132 172 40 30%
9 HTZ 7.125 8/1/2026 144A 7.13% 08/01/26 30 70 40 133%
10 ILDFP 6.875 4/15/2031 6.88% 04/15/31 100 136 36 36%

Most Quoted HY Corps

Ranks the HY Corps that were quoted by the highest number of dealers between 9/13/24 – 9/20/24

RANK TRANCHE COUPON MATURITY DEALERS
1 BNP 7.375 PERP 7.38% 12/11/99 38
2 SANTAN 9.625 PERP 9.63% 11/21/99 38
3 INTNED 5.75 PERP 5.75% NULL 37
4 BACR 6.125 PERP 6.13% NULL 37
5 SANTAN 8 PERP 8.20% NULL 37
6 BACR 4.375 PERP 4.38% NULL 36
7 INTNED 4.25 PERP 4.25% NULL 36
8 INTNED 7.5 PERP 7.50% 11/16/99 36
9 F 5.125 11/5/2026 5.13% 11/05/26 36
10 INTNED 4.875 PERP 4.88% 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 9/13/24 – 9/20/24

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