Corporates

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High Yield Corporate Bond Market Summary:
Week Ending 11/15/24

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
Select Medical $850 million senior notes JPM Week of 11/18

Top 10 Performers

Showcases the top 10 HY Corp performers based on the largest bid price increases between 11/8/24 – 11/15/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 GFMEGA 8.25 2/11/2025 REGS 8.25% 02/11/25 13.84% 44.78 39.33 9
2 EAF 9.875 12/15/2028 144A 9.88% 12/15/28 7.87% 90.40 83.81 8
3 UKRAIN 0 2/1/2035 REGS 0.00% 02/01/35 7.68% 56.60 52.57 20
4 EAF 9.875 12/15/2028 REGS 9.88% 12/15/28 7.09% 89.08 83.18 16
5 GFKLDE 7.75 11/1/2025 REGS 7.75% 11/01/25 6.32% 63.18 59.42 17
6 HTZ 4.625 12/1/2026 144A 4.63% 12/01/26 6.20% 80.93 76.21 25
7 AMGFIN 0 1/15/2067 144A 6.60% 01/15/67 5.76% 70.78 66.92 7
8 AZUBBZ 11.5 5/28/2029 144A 11.50% 05/28/29 5.46% 68.23 64.70 20
9 SBBBSS 2.624 PERP 2.62% NULL 5.41% 39.70 37.67 18
10 MLTPLN 5.5 9/1/2028 144A 5.50% 09/01/28 5.13% 70.13 66.70 21

Bottom 10 Performers

Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 11/8/24 – 11/15/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 EIGI 6 2/15/2029 144A 6.00% 02/15/29 -17.79% 56.13 68.27 18
2 NAFTO 7.625 11/8/2028 REGS 7.63% 11/08/28 -9.61% 76.63 84.78 15
3 ECUA 5 7/31/2040 REGS 5.00% 07/31/40 -7.90% 47.40 51.47 23
4 NOVA 5.875 9/1/2026 144A 5.88% 09/01/26 -7.24% 77.00 83.01 17
5 NWDEVL 4.8 PERP 4.80% NULL -7.13% 41.11 44.26 16
6 STPRAU 6.25 4/30/2026 REGS 6.25% 04/30/26 -7.06% 69.00 74.24 16
7 ROADKG 5.2 1/12/2026 5.20% 01/12/26 -5.43% 37.14 39.27 7
8 DISH 5.125 6/1/2029 5.13% 06/01/29 -4.31% 63.15 65.99 19
9 PEMEX 6.625 6/15/2035 6.63% 06/15/35 -4.25% 80.91 84.50 21
10 ALTICE 5.75 8/15/2029 144A 5.75% 08/15/29 -4.17% 78.60 82.02 7

Avg Industry Price

Displays the HY Corp average industry price by sector between 11/8/24 – 11/15/24

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 11/8/24 – 11/15/24

Top Quote Volume Movers: This Week vs Last Week

Exhibits the HY Corps with the largest increase in quote volume for the week ending 11/8/24 vs. the week ending 11/15/24

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 CC 4.625 11/15/2029 REGS 4.63% 11/15/29 10 196 186 1860%
2 FMCN 9.375 3/1/2029 REGS 9.38% 03/01/29 10 167 157 1570%
3 FMCN 6.875 10/15/2027 REGS 6.88% 10/15/27 10 164 154 1540%
4 GAP 3.875 10/1/2031 144A 3.88% 10/01/31 112 210 98 88%
5 SMYREA 8.875 11/15/2031 144A 8.88% 11/15/31 107 205 98 92%
6 MAGN 4.75 11/15/2029 REGS 4.75% 11/15/29 5 87 82 1640%
7 ECUA 6.9 7/31/2030 REGS 6.16% 07/31/30 95 175 80 84%
8 GEO 8.625 4/15/2029 REGS 8.63% 04/15/29 106 180 74 70%
9 BANBRA 8.748 PERP REGS 8.75% NULL 66 132 66 100%
10 SKBTAM 2.125 1/26/2026 2.13% 01/26/26 121 171 50 41%

Most Quoted HY Corps

Ranks the HY Corps that were quoted by the highest number of dealers between 11/8/24 – 11/15/24

RANK TRANCHE COUPON MATURITY DEALERS
1 BACR 6.125 PERP 6.13% NULL 38
2 INTNED 5.75 PERP 5.75% NULL 37
3 SANTAN 9.625 PERP 9.63% 11/21/99 37
4 INTNED 6.5 PERP 6.50% NULL 36
5 UBS 7 PERP 7.00% NULL 36
6 BACR 4.375 PERP 4.38% NULL 36
7 UBS 6.875 PERP 6.88% 12/29/49 36
8 NWG 8 PERP 8.00% NULL 36
9 BACR 9.625 PERP 9.63% 12/15/99 36
10 INTNED 7.5 PERP 7.50% 11/16/99 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 11/8/24 – 11/15/24

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