Corporates

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High Yield Corporate Bond Market Summary:
Week Ending 9/27/24

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 9/20/24 – 9/27/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 HOME 4.875 7/15/2028 144A 4.88% 07/15/28 15.95% 45.66 39.37 10
2 FTLNHD 4.5 5/2/2026 4.50% 05/02/26 13.00% 69.30 61.33 15
3 SBBBSS 2.625 PERP 2.63% NULL 11.37% 48.13 43.21 18
4 SSP 5.875 7/15/2027 144A 5.88% 07/15/27 11.06% 83.93 75.58 24
5 NWDEVL 4.8 PERP 4.80% NULL 10.31% 45.54 41.28 20
6 SBGI 5.5 3/1/2030 144A 5.50% 03/01/30 9.74% 70.94 64.64 22
7 ARNDTN 1.625 PERP 1.63% NULL 8.97% 81.69 74.97 16
8 WESCHI 4.95 7/8/2026 4.95% 07/08/26 6.97% 75.40 70.49 17
9 ARNDTN 5 PERP 5.00% NULL 6.80% 84.37 79.00 11
10 NPCUKR 6.875 11/9/2028 REGS 6.88% 11/09/28 6.06% 63.24 59.62 17

Bottom 10 Performers

Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 9/20/24 – 9/27/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 TOTALP 10.5 12/31/2028 144A 10.50% 12/31/28 -10.54% 74.37 83.13 12
2 MUTARE FLT 3/31/2027 12.22% 03/31/27 -10.50% 94.64 105.74 12
3 VCPLN 3.75 3/15/2028 3.75% 03/15/28 -10.38% 73.41 81.91 17
4 EHICAR 12 9/26/2027 12.00% 09/26/27 -9.18% 68.68 75.62 14
5 MODV 5 10/1/2029 144A 5.00% 10/01/29 -7.99% 60.05 65.27 24
6 SFRFP 10.5 5/15/2027 REGS 10.50% 05/15/27 -6.45% 34.41 36.79 19
7 CNECN 5.75 11/24/2028 144A 5.75% 11/24/28 -6.43% 53.16 56.81 24
8 TITANI 6.25 1/14/2031 6.25% 01/14/31 -5.58% 26.83 28.42 5
9 VSAT 7.5 5/30/2031 144A 7.50% 05/30/31 -5.26% 69.75 73.62 21
10 BHCCN 5.25 1/30/2030 144A 5.25% 01/30/30 -4.92% 55.05 57.89 16

Avg Industry Price

Displays the HY Corp average industry price by sector between 9/20/24 – 9/27/24

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 9/20/24 – 9/27/24

Top Quote Volume Movers: This Week vs Last Week

Exhibits the HY Corps with the largest increase in quote volume for the week ending 9/20/24 vs. the week ending 9/27/24

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 QPARKH 5.125 2/15/2030 REGS 5.13% 02/15/30 57 161 104 182%
2 ORSTED 1.75 12/9/3019 1.75% 12/09/19 200 251 51 26%
3 OPY 5.5 10/1/2025 5.50% 10/01/25 30 77 47 157%
4 CPS 10.625 5/15/2027 144A 5.63% 05/15/27 30 72 42 140%
5 TMUS 5.05 7/15/2033 5.05% 07/15/33 305 342 37 12%
6 CNK 5.875 3/15/2026 144A 5.88% 03/15/26 110 144 34 31%
7 AETUNI 8.25 2/15/2026 144A 8.25% 02/15/26 218 250 32 15%
8 TMUS 5.75 1/15/2054 5.75% 01/15/54 269 301 32 12%
9 TMUS 5.2 1/15/2033 5.20% 01/15/33 278 309 31 11%
10 MATW 5.25 12/1/2025 144A 5.25% 12/01/25 149 179 30 20%

Most Quoted HY Corps

Ranks the HY Corps that were quoted by the highest number of dealers between 9/20/24 – 9/27/24

RANK TRANCHE COUPON MATURITY DEALERS
1 BNP 7.375 PERP 7.38% 12/11/99 39
2 LLOYDS 6.75 PERP 6.75% NULL 38
3 SANTAN 9.625 PERP 9.63% 11/21/99 38
4 BACR 6.125 PERP 6.13% NULL 37
5 F 5.125 11/5/2026 5.13% 11/05/26 37
6 BACR 4.375 PERP 4.38% NULL 36
7 F 5.303 9/6/2029 5.30% 09/06/29 36
8 INTNED 5.75 PERP 5.75% NULL 36
9 SANTAN 8 PERP 8.20% NULL 36
10 TMUS 5.05 7/15/2033 5.05% 07/15/33 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 9/20/24 – 9/27/24

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