Corporates

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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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