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High Yield Corporate Bond Market Summary:
Week Ending 12/20/24
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 |
| Starwood Property Trust Inc. (USD) 6.5% 7/1/2030 | Senior Note | BofA,JPM,KBW | Q4 2024 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 12/13/24 – 12/20/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | FRAX 7.1 9/30/2029 144A | 7.10% | 09/30/29 | 13.55% | 68.41 | 60.24 | 8 |
| 2 | MDLNIJ 5 4/30/2027 | 3.00% | 04/30/27 | 11.19% | 28.79 | 25.90 | 7 |
| 3 | SBBBSS 2.624 PERP | 2.62% | NULL | 11.06% | 40.61 | 36.57 | 20 |
| 4 | LIQTEL 5.5 9/4/2026 REGS | 5.50% | 09/04/26 | 8.24% | 79.47 | 73.42 | 17 |
| 5 | COMM 4.75 9/1/2029 144A | 4.75% | 09/01/29 | 7.67% | 89.69 | 83.30 | 20 |
| 6 | CONSTE 4.875 7/15/2027 REGS | 4.88% | 07/15/27 | 5.42% | 95.15 | 90.25 | 8 |
| 7 | CMGMCO 8.875 6/18/2029 144A | 8.88% | 06/18/29 | 4.27% | 73.14 | 70.15 | 10 |
| 8 | UONE 7.375 2/1/2028 144A | 7.38% | 02/01/28 | 3.88% | 63.92 | 61.53 | 22 |
| 9 | DPB FLT PERP | 0.00% | NULL | 2.61% | 86.00 | 83.81 | 9 |
| 10 | KEMONE 5.625 11/15/2028 REGS | 5.63% | 11/15/28 | 2.50% | 75.56 | 73.71 | 20 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 12/13/24 – 12/20/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | NWDEVL 4.8 PERP | 4.80% | NULL | -25.34% | 30.93 | 41.42 | 18 |
| 2 | MODV 5 10/1/2029 144A | 5.00% | 10/01/29 | -11.76% | 60.66 | 68.74 | 22 |
| 3 | STPRAU 6.25 4/30/2026 REGS | 6.25% | 04/30/26 | -10.57% | 40.23 | 44.99 | 16 |
| 4 | ZAYO 6.125 3/1/2028 | 6.13% | 03/01/28 | -9.82% | 83.83 | 92.96 | 26 |
| 5 | SELNSW 10 7/1/2026 REGS | 10.00% | 07/01/26 | -8.99% | 45.53 | 50.03 | 8 |
| 6 | LINTA 8.5 7/15/2029 | 8.50% | 07/15/29 | -8.86% | 47.00 | 51.57 | 19 |
| 7 | NFE 8.75 3/15/2029 144A | 8.75% | 03/15/29 | -8.62% | 80.30 | 87.88 | 27 |
| 8 | CYH 6.125 4/1/2030 144A | 6.13% | 04/01/30 | -7.82% | 68.61 | 74.43 | 22 |
| 9 | VSAT 6.5 7/15/2028 144A | 6.50% | 07/15/28 | -7.20% | 78.15 | 84.21 | 26 |
| 10 | SIMHBZ 5.2 1/26/2031 REGS | 5.20% | 01/26/31 | -7.17% | 75.20 | 81.01 | 19 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 12/13/24 – 12/20/24
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 12/13/24 – 12/20/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 12/13/24 vs. the week ending 12/20/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | ECUA 6.9 7/31/2030 144A | 6.90% | 07/31/30 | 47 | 153 | 106 | 226% |
| 2 | POWSOL 6.25 5/15/2026 144A | 6.25% | 05/15/26 | 150 | 206 | 56 | 37% |
| 3 | ANGINC 6.144 6/13/2032 144A | 6.14% | 06/13/32 | 25 | 77 | 52 | 208% |
| 4 | SOAF 7.95 11/19/2054 REGS | 7.95% | 11/19/54 | 102 | 144 | 42 | 41% |
| 5 | POSADA 7 12/30/2027 REGS | 7.00% | 12/30/27 | 20 | 60 | 40 | 200% |
| 6 | SOAF 7.1 11/19/2036 REGS | 7.10% | 11/19/36 | 111 | 150 | 39 | 35% |
| 7 | GAP 3.875 10/1/2031 REGS | 3.88% | 10/01/31 | 214 | 252 | 38 | 18% |
| 8 | AKUCN 9 8/1/2027 144A | 9.00% | 08/01/27 | 100 | 136 | 36 | 36% |
| 9 | NAFTO 7.65 7/19/2025 | 7.65% | 07/19/25 | 82 | 118 | 36 | 44% |
| 10 | NDAFH 3.6 6/6/2025 REGS | 3.60% | 06/06/25 | 34 | 69 | 35 | 103% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 12/13/24 – 12/20/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | NWG 8 PERP | 8.00% | NULL | 35 |
| 2 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 35 |
| 3 | BACR 6.125 PERP | 6.13% | NULL | 35 |
| 4 | SANTAN 8 PERP | 7.41% | NULL | 35 |
| 5 | BACR 9.625 PERP | 9.63% | 12/15/99 | 34 |
| 6 | OXY 6.05 10/1/2054 | 6.05% | 10/01/54 | 34 |
| 7 | INTNED 5.75 PERP | 5.75% | NULL | 34 |
| 8 | UBS 7 PERP | 7.00% | NULL | 34 |
| 9 | NWG 8.125 PERP | 8.13% | NULL | 33 |
| 10 | INTNED 6.5 PERP | 6.50% | NULL | 33 |
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 12/13/24 – 12/20/24
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