High Yield Corporate Bond Market Summary – Week Ending 11/8/24
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High Yield Corporate Bond Market Summary: Week Ending 11/8/24
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 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 11/1/24 – 11/8/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | BTSG 6.75 2/1/2027 | 6.75% | 02/01/27 | 21.09% | 68.40 | 56.49 | 7 |
| 2 | CSCHLD 5 11/15/2031 | 5.00% | 11/15/31 | 14.86% | 56.11 | 48.85 | 21 |
| 3 | IHRT 8.375 5/1/2027 | 8.38% | 05/01/27 | 12.03% | 59.01 | 52.67 | 18 |
| 4 | UKRAIN 0 2/1/2036 REGS | 0.00% | 02/01/36 | 8.72% | 52.35 | 48.15 | 20 |
| 5 | METINV 7.75 10/17/2029 REGS | 7.75% | 10/17/29 | 8.71% | 70.13 | 64.50 | 18 |
| 6 | BHCCN 5 1/30/2028 144A | 5.00% | 01/30/28 | 8.26% | 69.28 | 64.00 | 16 |
| 7 | ARGENT 3.875 7/9/2035 | 3.88% | 07/09/35 | 7.88% | 54.22 | 50.26 | 13 |
| 8 | DTEKUA 7 12/31/2027 | 7.00% | 12/31/27 | 7.18% | 58.50 | 54.59 | 16 |
| 9 | LUMN 7.6 9/15/2039 | 7.60% | 09/15/39 | 7.11% | 78.10 | 72.92 | 18 |
| 10 | LVLT 3.875 11/15/2029 144A | 3.88% | 11/15/29 | 6.39% | 71.64 | 67.34 | 13 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 11/1/24 – 11/8/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | SELNSW 10 7/1/2026 144A | 10.00% | 07/01/26 | -15.21% | 75.93 | 89.55 | 11 |
| 2 | SSP 5.875 7/15/2027 144A | 5.88% | 07/15/27 | -13.44% | 76.50 | 88.37 | 26 |
| 3 | ROADKG 5.125 1/26/2030 | 5.13% | 07/26/26 | -12.39% | 36.76 | 41.95 | 9 |
| 4 | BOPREA 0 6/30/2025 | 0.00% | 06/30/25 | -11.84% | 64.84 | 73.54 | 10 |
| 5 | NOVA 11.75 10/1/2028 144A | 11.75% | 10/01/28 | -9.37% | 74.00 | 81.65 | 20 |
| 6 | SBBBSS 2.875 PERP | 2.88% | NULL | -9.27% | 37.75 | 41.60 | 18 |
| 7 | KEMONE 5.625 11/15/2028 REGS | 5.63% | 11/15/28 | -7.20% | 76.60 | 82.55 | 20 |
| 8 | RADIAT 6.5 9/15/2028 144A | 6.50% | 09/15/28 | -6.28% | 64.51 | 68.83 | 17 |
| 9 | DALWAN 11 2/13/2026 | 11.00% | 02/13/26 | -6.26% | 78.60 | 83.85 | 17 |
| 10 | MIK 7.875 5/1/2029 144A | 7.88% | 05/01/29 | -5.11% | 50.52 | 53.25 | 25 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 11/1/24 – 11/8/24 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 11/1/24 – 11/8/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 11/1/24 vs. the week ending 11/8/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | ARESSI 5.6 2/15/2030 REGS | 5.60% | 02/15/30 | 13 | 137 | 124 | 954% |
| 2 | CNR 9.5 8/15/2029 144A | 9.50% | 08/15/29 | 60 | 180 | 120 | 200% |
| 3 | THYELE 7.625 7/15/2028 144A | 7.63% | 07/15/28 | 143 | 197 | 54 | 38% |
| 4 | GCCN 4.875 11/1/2026 144A | 4.88% | 11/01/26 | 199 | 242 | 43 | 22% |
| 5 | AA 5.5 12/15/2027 144A | 5.50% | 12/15/27 | 135 | 175 | 40 | 30% |
| 6 | NWL 4 12/1/2024 | 4.00% | 12/01/24 | 175 | 213 | 38 | 22% |
| 7 | PBRXIJ 7.625 12/31/2025 | 7.63% | 12/31/25 | 39 | 77 | 38 | 97% |
| 8 | OPTICS 7.2 7/18/2036 144A | 7.20% | 07/18/36 | 30 | 59 | 29 | 97% |
| 9 | QVCN 6.875 4/15/2029 144A | 6.88% | 04/15/29 | 102 | 130 | 28 | 27% |
| 10 | PROGST 3.25 12/15/2024 REGS | 3.25% | 12/15/24 | 105 | 132 | 27 | 26% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 11/1/24 – 11/8/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | BACR 6.125 PERP | 6.13% | NULL | 39 |
| 2 | BACR 9.625 PERP | 9.63% | 12/15/99 | 38 |
| 3 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 38 |
| 4 | SANTAN 8 PERP | 7.41% | NULL | 37 |
| 5 | INTNED 5.75 PERP | 5.75% | NULL | 37 |
| 6 | UBS 6.875 PERP | 6.88% | 12/29/49 | 37 |
| 7 | NWG 8 PERP | 8.00% | NULL | 37 |
| 8 | UBS 7 PERP | 7.00% | NULL | 37 |
| 9 | LLOYDS 6.75 PERP | 6.75% | NULL | 36 |
| 10 | NWG 6 PERP | 6.00% | 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 11/1/24 – 11/8/24
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