Corporates

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High Yield Corporate Bond Market Summary:
Week Ending 10/18/24

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 Q4 2024
Rise Baking Co. $650 million senior secured notes BofA Q4 2024

Top 10 Performers

Showcases the top 10 HY Corp performers based on the largest bid price increases between 10/11/24 – 10/18/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 AMC 7.5 2/15/2029 144A 7.50% 02/15/29 7.26% 84.85 79.11 23
2 UKRAIN 0 2/1/2035 REGS 0.00% 02/01/35 7.10% 46.94 43.83 21
3 ARGBON 5 1/9/2038 2.00% 01/09/38 6.99% 56.32 52.64 5
4 INCMBZ 5.75 7/17/2024 REGS 5.75% 07/17/24 6.55% 49.47 46.43 15
5 HLF 4.875 6/1/2029 144A 4.88% 06/01/29 6.49% 64.14 60.23 26
6 MTROLN 14 4/30/2034 REGS 14.00% 04/30/34 6.17% 91.32 86.01 15
7 LVLT 3.875 11/15/2029 144A 3.88% 11/15/29 6.06% 68.03 64.14 17
8 COSHSA 3 12/31/2026 3.00% 12/31/26 6.05% 96.88 91.35 10
9 NWDEVL 3.75 1/14/2031 3.75% 01/14/31 5.10% 71.44 67.98 16
10 SSP 3.875 1/15/2029 144A 3.88% 01/15/29 5.06% 75.66 72.01 26

Bottom 10 Performers

Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 10/11/24 – 10/18/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 SFRFP 6 2/15/2028 144A 6.00% 02/15/28 -11.84% 25.13 28.50 3
2 ZEUSBD 6.5 6/30/2027 144A 6.50% 06/30/27 -6.51% 67.87 72.59 13
3 VCPLN 3.75 3/15/2028 3.75% 03/15/28 -4.76% 71.94 75.54 16
4 MIK 7.875 5/1/2029 144A 7.88% 05/01/29 -4.73% 57.50 60.36 27
5 KEMONE 5.625 11/15/2028 REGS 5.63% 11/15/28 -4.11% 83.44 87.01 20
6 CSCHLD 4.625 12/1/2030 144A 4.63% 12/01/30 -4.06% 52.75 54.98 21
7 SBBBSS 2.875 PERP 2.88% NULL -3.89% 45.23 47.06 18
8 MGFLIN 7.375 5/12/2028 7.38% 05/12/28 -3.25% 98.88 102.20 20
9 GAMHOL FLT 7/15/2028 REGS 9.19% 07/15/28 -3.08% 94.11 97.10 16
10 SGLSJ 4.5 11/16/2029 REGS 4.50% 11/16/29 -2.46% 82.61 84.69 18

Avg Industry Price

Displays the HY Corp average industry price by sector between 10/11/24 – 10/18/24

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 10/11/24 – 10/18/24

Top Quote Volume Movers: This Week vs Last Week

Exhibits the HY Corps with the largest increase in quote volume for the week ending 10/11/24 vs. the week ending 10/18/24

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 GFLCN 6.75 1/15/2031 144A 6.75% 01/15/31 90 218 128 142%
2 RDEDOR FLT 5/25/2028 4.95% 05/25/28 29 119 90 310%
3 VICTRA 8.75 9/15/2029 144A 8.75% 09/15/29 56 111 55 98%
4 NHPIFS 5.75 2/1/2030 REGS 5.75% 02/01/30 5 56 51 1020%
5 FTLNHD 4.5 6/16/2026 4.50% 06/16/26 42 90 48 114%
6 MBGGR 1.5 3/9/2026 1.50% 03/09/26 152 198 46 30%
7 LNG 5.65 4/15/2034 5.65% 04/15/34 27 70 43 159%
8 AZUBBZ 5.875 10/26/2024 144A 5.88% 10/26/24 46 88 42 91%
9 VGR 10.5 11/1/2026 144A 10.50% 11/01/26 148 187 39 26%
10 ADGREG 6.7 3/12/2042 REGS 6.70% 03/12/42 260 293 33 13%

Most Quoted HY Corps

Ranks the HY Corps that were quoted by the highest number of dealers between 10/11/24 – 10/18/24

RANK TRANCHE COUPON MATURITY DEALERS
1 SANTAN 9.625 PERP 9.63% 11/21/99 38
2 LLOYDS 6.75 PERP 6.75% NULL 38
3 TMUS 5.05 7/15/2033 5.05% 07/15/33 37
4 BACR 6.125 PERP 6.13% NULL 37
5 INTNED 5.75 PERP 5.75% NULL 36
6 LLOYDS 7.5 PERP 7.50% NULL 35
7 BACR 9.625 PERP 9.63% 12/15/99 35
8 SANTAN 8 PERP 7.41% NULL 35
9 UBS 7 PERP 7.00% NULL 35
10 BACR 4.375 PERP 4.38% 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 10/11/24 – 10/18/24

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