High Yield Corporate Bond Market Summary – Week Ending 11/1/24
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High Yield Corporate Bond Market Summary: Week Ending 11/1/24
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 10/25/24 – 11/1/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | HLF 4.875 6/1/2029 144A | 4.88% | 06/01/29 | 9.31% | 68.27 | 62.45 | 26 |
| 2 | SFRFP 6 2/15/2028 REGS | 6.00% | 02/15/28 | 5.79% | 26.39 | 24.95 | 18 |
| 3 | MCLAUT 7.5 8/1/2026 REGS | 7.50% | 08/01/26 | 5.67% | 97.44 | 92.21 | 24 |
| 4 | LIQTEL 5.5 9/4/2026 REGS | 5.50% | 09/04/26 | 5.63% | 71.88 | 68.05 | 16 |
| 5 | AZUBBZ 11.5 5/28/2029 144A | 11.50% | 05/28/29 | 4.57% | 64.28 | 61.46 | 18 |
| 6 | HEIBOS 2.625 PERP | 2.63% | 01/26/99 | 4.42% | 88.57 | 84.82 | 22 |
| 7 | SSP 3.875 1/15/2029 144A | 3.88% | 01/15/29 | 4.36% | 77.85 | 74.60 | 23 |
| 8 | SRILAN 6.85 3/14/2024 REGS | 6.85% | 03/14/24 | 4.32% | 60.44 | 57.94 | 17 |
| 9 | MODV 5 10/1/2029 144A | 5.00% | 10/01/29 | 3.80% | 67.99 | 65.50 | 21 |
| 10 | DISH 7.375 7/1/2028 | 7.38% | 07/01/28 | 3.67% | 73.38 | 70.78 | 22 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 10/25/24 – 11/1/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | NINE 13 2/1/2028 | 13.00% | 02/01/28 | -11.32% | 66.42 | 74.89 | 10 |
| 2 | XRXCRP 6.75 12/15/2039 | 6.75% | 12/15/39 | -9.85% | 67.34 | 74.70 | 11 |
| 3 | EHICAR 12 9/26/2027 | 12.00% | 09/26/27 | -5.49% | 66.25 | 70.10 | 15 |
| 4 | IEP 4.375 2/1/2029 | 4.38% | 02/01/29 | -4.65% | 83.30 | 87.36 | 17 |
| 5 | BAKIDE 7.45 11/15/2029 REGS | 7.45% | 11/15/29 | -4.56% | 78.89 | 82.66 | 22 |
| 6 | CONSEN 5 10/15/2028 REGS | 5.00% | 10/15/28 | -3.50% | 81.92 | 84.89 | 13 |
| 7 | SENEGL 6.75 3/13/2048 REGS | 6.75% | 03/13/48 | -3.02% | 70.07 | 72.25 | 18 |
| 8 | MIK 7.875 5/1/2029 144A | 7.88% | 05/01/29 | -2.99% | 53.25 | 54.89 | 26 |
| 9 | VSAT 7.5 5/30/2031 144A | 7.50% | 05/30/31 | -2.89% | 65.54 | 67.49 | 23 |
| 10 | COLOM 4.125 2/22/2042 | 4.13% | 02/22/42 | -2.82% | 63.44 | 65.28 | 21 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 10/25/24 – 11/1/24 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 10/25/24 – 11/1/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 10/25/24 vs. the week ending 11/1/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | SOLEIN 9.75 11/15/2028 144A | 9.75% | 11/15/28 | 117 | 234 | 117 | 100% |
| 2 | THYELE 7.625 7/15/2028 144A | 7.63% | 07/15/28 | 50 | 143 | 93 | 186% |
| 3 | AA 5.5 12/15/2027 144A | 5.50% | 12/15/27 | 46 | 135 | 89 | 193% |
| 4 | ARISCN 6.875 8/9/2026 144A | 6.88% | 08/09/26 | 156 | 218 | 62 | 40% |
| 5 | RCL 7.5 10/15/2027 | 7.50% | 10/15/27 | 208 | 250 | 42 | 20% |
| 6 | OCDO 10.5 8/8/2029 | 10.50% | 08/08/29 | 142 | 180 | 38 | 27% |
| 7 | PIFKSA 4.375 9/10/2027 | 4.38% | 09/10/27 | 187 | 223 | 36 | 19% |
| 8 | NWL 4 12/1/2024 | 4.00% | 12/01/24 | 140 | 175 | 35 | 25% |
| 9 | MSCI 3.625 9/1/2030 144A | 3.63% | 09/01/30 | 109 | 143 | 34 | 31% |
| 10 | TWLO 3.875 3/15/2031 | 3.88% | 03/15/31 | 196 | 230 | 34 | 17% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 10/25/24 – 11/1/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 39 |
| 2 | BACR 6.125 PERP | 6.13% | NULL | 39 |
| 3 | SANTAN 8 PERP | 7.41% | NULL | 38 |
| 4 | BACR 9.625 PERP | 9.63% | 12/15/99 | 38 |
| 5 | INTNED 5.75 PERP | 5.75% | NULL | 38 |
| 6 | NWG 8 PERP | 8.00% | NULL | 37 |
| 7 | TMUS 5.05 7/15/2033 | 5.05% | 07/15/33 | 36 |
| 8 | INTNED 7.5 PERP | 7.50% | 11/16/99 | 36 |
| 9 | UBS 7 PERP | 7.00% | NULL | 36 |
| 10 | BACR 4.375 PERP | 4.38% | NULL | 36 |
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 10/25/24 – 11/1/24
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