Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 1/3/25
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 | Q1 2025 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 12/27/24 – 1/3/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | TLWLN 7 3/1/2025 REGS | 7.00% | 03/01/25 | 10.42% | 92.98 | 84.21 | 25 |
| 2 | BALY 5.875 9/1/2031 144A | 5.88% | 09/01/31 | 7.53% | 73.42 | 68.28 | 23 |
| 3 | CERBA 5 5/31/2029 REGS | 5.00% | 05/31/29 | 7.37% | 62.10 | 57.84 | 20 |
| 4 | NWDEVL 4.65 3/16/2026 | 4.65% | 03/16/26 | 7.16% | 78.10 | 72.88 | 3 |
| 5 | MLTPLN 5.5 9/1/2028 144A | 5.50% | 09/01/28 | 4.18% | 84.38 | 81.00 | 22 |
| 6 | LMRTSP 6.4751 PERP | 6.48% | NULL | 3.96% | 44.05 | 42.38 | 10 |
| 7 | SSP 5.375 1/15/2031 144A | 5.38% | 01/15/31 | 3.96% | 52.03 | 50.05 | 23 |
| 8 | NBR 7.5 1/15/2028 144A | 7.50% | 01/15/28 | 3.32% | 95.10 | 92.04 | 15 |
| 9 | IHRT 4.75 1/15/2028 144A | 4.75% | 01/15/28 | 3.25% | 81.05 | 78.50 | 15 |
| 10 | MPW 4.625 8/1/2029 | 4.63% | 08/01/29 | 3.23% | 72.84 | 70.56 | 22 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 12/27/24 – 1/3/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | CONSEN 5.625 10/15/2028 REGS | 5.63% | 10/15/28 | -4.42% | 81.38 | 85.15 | 20 |
| 2 | AEFES 3.375 6/29/2028 REGS | 3.38% | 06/29/28 | -3.39% | 85.82 | 88.82 | 20 |
| 3 | BAKIDE 6.99 2/20/2032 REGS | 6.99% | 02/20/32 | -3.09% | 72.90 | 75.23 | 23 |
| 4 | UONE 7.375 2/1/2028 144A | 7.38% | 02/01/28 | -3.06% | 61.36 | 63.30 | 21 |
| 5 | SRILAN 5.875 7/25/2022 REGS | 5.88% | 07/25/22 | -2.99% | 60.50 | 62.37 | 16 |
| 6 | ALTICE 4.75 1/15/2028 REGS | 4.75% | 01/15/28 | -2.50% | 54.97 | 56.38 | 19 |
| 7 | ATOFP 5 12/18/2030 | 5.00% | 12/18/30 | -2.23% | 54.62 | 55.86 | 13 |
| 8 | KPERST 6.5 9/1/2026 REGS | 6.50% | 09/01/26 | -1.59% | 77.98 | 79.24 | 16 |
| 9 | CSIPRO 5.45 7/21/2025 | 5.45% | 07/21/25 | -1.59% | 84.87 | 86.24 | 9 |
| 10 | SAMMIN 9 6/30/2031 REGS | 9.00% | 06/30/31 | -1.47% | 96.20 | 97.63 | 18 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 12/27/24 – 1/3/25
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 12/27/24 – 1/3/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 12/27/24 vs. the week ending 1/3/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | NOVA 11.75 10/1/2028 REGS | 11.75% | 10/01/28 | 20 | 104 | 84 | 420% |
| 2 | SPLS 10.75 9/1/2029 REGS | 10.75% | 09/01/29 | 76 | 157 | 81 | 107% |
| 3 | LTMCI 7.875 4/15/2030 REGS | 7.88% | 04/15/30 | 119 | 200 | 81 | 68% |
| 4 | CVNA 13 6/1/2030 REGS | 13.00% | 06/01/30 | 37 | 111 | 74 | 200% |
| 5 | IHRT 9.125 5/1/2029 144A | 9.13% | 05/01/29 | 2 | 74 | 72 | 3600% |
| 6 | PIFKSA 5.375 10/13/2022 | 5.38% | 10/13/22 | 106 | 174 | 68 | 64% |
| 7 | ZBRA 6.5 6/1/2032 REGS | 6.50% | 06/01/32 | 34 | 102 | 68 | 200% |
| 8 | IHRT 7.75 8/15/2030 144A | 7.75% | 08/15/30 | 12 | 80 | 68 | 567% |
| 9 | IHRT 10.875 5/1/2030 144A | 10.88% | 05/01/30 | 12 | 80 | 68 | 567% |
| 10 | NCRATL 9.5 4/1/2029 REGS | 9.50% | 04/01/29 | 56 | 121 | 65 | 116% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 12/27/24 – 1/3/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 34 |
| 2 | SANTAN 8 PERP | 8.28% | NULL | 34 |
| 3 | BACR 6.125 PERP | 6.13% | NULL | 34 |
| 4 | UBS 7 PERP | 7.00% | NULL | 33 |
| 5 | CC 5.375 5/15/2027 | 5.38% | 05/15/27 | 33 |
| 6 | INTNED 5.75 PERP | 5.75% | NULL | 33 |
| 7 | NWG 8 PERP | 8.00% | NULL | 33 |
| 8 | NWG 8.125 PERP | 8.13% | NULL | 33 |
| 9 | LLOYDS 7.5 PERP | 7.50% | NULL | 33 |
| 10 | MXCN 5.25 12/15/2029 | 5.25% | 12/15/29 | 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 12/27/24 – 1/3/25
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