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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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