Corporates

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High Yield Corporate Bond Market Summary:
Week Ending 11/29/24

Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.

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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 11/22/24 – 11/29/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 NOVA 11.75 10/1/2028 144A 11.75% 10/01/28 11.08% 79.07 71.18 21
2 MIK 7.875 5/1/2029 144A 7.88% 05/01/29 9.03% 52.98 48.59 28
3 ARNDTN 1.625 PERP 1.63% NULL 8.26% 87.81 81.10 14
4 MLTPLN 5.75 11/1/2028 144A 5.75% 11/01/28 7.67% 44.10 40.96 22
5 CONSEN 5.625 10/15/2028 144A 5.63% 10/15/28 7.54% 85.61 79.61 8
6 GFMEGA 8.25 2/11/2025 REGS 8.25% 02/11/25 7.52% 48.68 45.27 12
7 TELSAT 5.625 12/6/2026 144A 5.63% 12/06/26 5.15% 51.00 48.50 18
8 FTLNHD 4.625 10/15/2025 4.63% 10/15/25 4.88% 89.70 85.52 14
9 HTZ 5 12/1/2029 144A 5.00% 12/01/29 4.69% 68.02 64.97 26
10 SRILAN 6.35 6/28/2024 REGS 6.35% 06/28/24 4.63% 65.63 62.73 18

Bottom 10 Performers

Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 11/22/24 – 11/29/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 IMGRP 8 3/1/2028 8.00% 03/01/28 -14.16% 52.53 61.19 16
2 NWDEVL 4.125 PERP 4.13% NULL -11.31% 52.09 58.73 16
3 AZUBBZ 10.875 5/28/2030 144A 10.88% 05/28/30 -8.84% 61.72 67.71 18
4 CNECN 5.75 11/24/2028 REGS 5.75% 11/24/28 -7.33% 50.39 54.38 3
5 XRXCRP 6.75 12/15/2039 6.75% 12/15/39 -6.82% 66.71 71.60 14
6 GRFSM 3.875 10/15/2028 144A 3.88% 10/15/28 -6.53% 86.92 93.00 18
7 SRCL 3.875 1/15/2029 144A 3.88% 01/15/29 -5.39% 92.86 98.15 11
8 MAXDIY 5.875 10/1/2026 REGS 5.88% 10/01/26 -5.19% 71.52 75.43 18
9 MPW 3.5 3/15/2031 3.50% 03/15/31 -4.12% 65.22 68.02 20
10 CYH 6.875 4/15/2029 144A 6.88% 04/15/29 -3.99% 80.30 83.64 22

Avg Industry Price

Displays the HY Corp average industry price by sector between 11/22/24 – 11/29/24

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 11/22/24 – 11/29/24

Top Quote Volume Movers: This Week vs Last Week

Exhibits the HY Corps with the largest increase in quote volume for the week ending 11/22/24 vs. the week ending 11/29/24

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 EXC 3.9 3/1/2048 3.90% 03/01/48 162 211 49 30%
2 ARENRJ 4.625 10/15/2039 REGS 4.63% 10/15/39 269 315 46 17%
3 RBIAV 7.375 PERP 0.00% NULL 102 143 41 40%
4 PYXHLD 8.5 12/31/2027 REGS 8.50% 12/31/27 13 54 41 315%
5 CHTR 5 2/1/2028 144A 5.00% 02/01/28 200 240 40 20%
6 KLXE 11.5 11/1/2025 144A 11.50% 11/01/25 117 156 39 33%
7 STANLN 5.3 PERP 5.30% NULL 80 118 38 48%
8 DTMINC 4.3 4/15/2032 144A 4.30% 04/15/32 111 145 34 31%
9 PURGYM 8.25 10/11/2028 REGS 8.25% 10/11/28 132 166 34 26%
10 MXCN 5.125 10/15/2027 5.13% 10/15/27 281 312 31 11%

Most Quoted HY Corps

Ranks the HY Corps that were quoted by the highest number of dealers between 11/22/24 – 11/29/24

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 11/22/24 – 11/29/24

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