High Yield Corporate Bond Market Summary – Week Ending 11/22/24
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High Yield Corporate Bond Market Summary: Week Ending 11/22/24
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 | |
| Neiman Marcus Global | $2 billion secured notes | JEFF | Q4 2024 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 11/15/24 – 11/22/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | KPERST 6.5 9/1/2026 REGS | 6.50% | 09/01/26 | 9.31% | 84.66 | 77.45 | 17 |
| 2 | IPHS 8.75 2/15/2026 144A | 8.75% | 02/15/26 | 8.06% | 100.38 | 92.89 | 12 |
| 3 | TELSAT 5.625 12/6/2026 144A | 5.63% | 12/06/26 | 6.62% | 48.50 | 45.49 | 19 |
| 4 | SFRFP 5.5 10/15/2029 144A | 5.50% | 10/15/29 | 6.47% | 77.84 | 73.12 | 6 |
| 5 | DISH 5.125 6/1/2029 | 5.13% | 06/01/29 | 6.07% | 66.98 | 63.15 | 19 |
| 6 | ARGBON 4.125 7/9/2035 | 0.13% | 07/09/35 | 4.80% | 63.75 | 60.82 | 5 |
| 7 | NASNO 0 9/30/2026 | 0.00% | 09/30/26 | 4.66% | 91.16 | 87.11 | 4 |
| 8 | TOTALP 6.375 9/20/2028 REGS | 6.38% | 09/20/28 | 4.56% | 60.53 | 57.89 | 13 |
| 9 | BECN 4.125 5/15/2029 144A | 4.13% | 05/15/29 | 4.35% | 96.87 | 92.84 | 22 |
| 10 | PEANSW 4.375 11/15/2025 REGS | 4.38% | 11/15/25 | 4.17% | 96.08 | 92.24 | 15 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 11/15/24 – 11/22/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | SELNSW 10 7/1/2026 REGS | 10.00% | 07/01/26 | -16.11% | 63.04 | 75.15 | 9 |
| 2 | MDLNIJ 5 6/30/2025 | 5.00% | 06/30/25 | -12.40% | 38.81 | 44.30 | 7 |
| 3 | ARENRJ 4.625 10/15/2039 144A | 4.63% | 10/15/39 | -11.51% | 74.00 | 83.62 | 6 |
| 4 | ADGREG 6.7 3/12/2042 144A | 6.70% | 03/12/42 | -10.56% | 85.55 | 95.65 | 6 |
| 5 | EIGI 11.75 10/15/2028 144A | 11.75% | 10/31/28 | -10.23% | 79.44 | 88.50 | 15 |
| 6 | STPRAU 6.25 4/30/2026 REGS | 6.25% | 04/30/26 | -5.90% | 64.93 | 69.00 | 16 |
| 7 | ALTICE 4.75 1/15/2028 REGS | 4.75% | 01/15/28 | -5.28% | 63.43 | 66.97 | 19 |
| 8 | CLUCAR 6.375 6/1/2029 144A | 6.38% | 06/01/29 | -4.88% | 89.00 | 93.56 | 20 |
| 9 | CERBA 5 5/31/2029 REGS | 5.00% | 05/31/29 | -4.46% | 58.96 | 61.71 | 21 |
| 10 | NFE 8.75 3/15/2029 144A | 8.75% | 03/15/29 | -4.34% | 81.69 | 85.40 | 23 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 11/15/24 – 11/22/24 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 11/15/24 – 11/22/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 11/15/24 vs. the week ending 11/22/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | CC 4.625 11/15/2029 REGS | 4.63% | 11/15/29 | 196 | 323 | 127 | 65% |
| 2 | EXE 5.875 2/1/2029 REGS | 5.88% | 02/01/29 | 74 | 185 | 111 | 150% |
| 3 | FMCN 9.375 3/1/2029 REGS | 9.38% | 03/01/29 | 167 | 278 | 111 | 66% |
| 4 | FMCN 6.875 10/15/2027 REGS | 6.88% | 10/15/27 | 164 | 270 | 106 | 65% |
| 5 | EXE 5.5 2/1/2026 REGS | 5.50% | 02/01/26 | 27 | 110 | 83 | 307% |
| 6 | BANBRA 8.748 PERP REGS | 8.75% | NULL | 132 | 197 | 65 | 49% |
| 7 | STX 4.75 1/1/2025 | 4.75% | 01/01/25 | 194 | 245 | 51 | 26% |
| 8 | ARENRJ 4.625 10/15/2039 REGS | 4.63% | 10/15/39 | 220 | 269 | 49 | 22% |
| 9 | BNP FLT PERP | 0.00% | 10/29/49 | 32 | 80 | 48 | 150% |
| 10 | DPB FLT PERP | 0.00% | 06/29/49 | 44 | 90 | 46 | 105% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 11/15/24 – 11/22/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | BACR 6.125 PERP | 6.13% | NULL | 39 |
| 2 | INTNED 6.5 PERP | 6.50% | NULL | 37 |
| 3 | INTNED 5.75 PERP | 5.75% | NULL | 37 |
| 4 | UBS 7 PERP | 7.00% | NULL | 37 |
| 5 | BACR 4.375 PERP | 4.38% | NULL | 37 |
| 6 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 37 |
| 7 | NWG 8 PERP | 8.00% | NULL | 37 |
| 8 | BACR 9.625 PERP | 9.63% | 12/15/99 | 37 |
| 9 | UBS 6.875 PERP | 6.88% | 12/29/49 | 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 11/15/24 – 11/22/24
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