Corporates

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High Yield Corporate Bond Market Summary:
Week Ending 1/24/25

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
Exeter Finance LLC $50 million fungible add-on CITI Q1 2025

Top 10 Performers

Showcases the top 10 HY Corp performers based on the largest bid price increases between 1/17/25 – 1/24/25

 

 

 

 

 

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 VATE 8.5 2/1/2026 144A 8.50% 02/01/26 12.51% 93.11 82.76 13
2 TELSAT 6.5 10/15/2027 144A 6.50% 10/15/27 11.29% 44.86 40.30 23
3 GTN 4.75 10/15/2030 144A 4.75% 10/15/30 10.05% 59.43 54.00 29
4 LOGM 5.5 5/1/2028 144A 5.50% 05/01/28 9.86% 46.16 42.01 14
5 PBBGR 8.474 PERP  8.47% NULL 7.67% 80.05 74.35 22
6 NPCUKR 6.875 11/9/2028 REGS 6.88% 11/09/28 6.15% 75.21 70.85 17
7 SECBEN 7 PERP 144A 7.00% NULL 5.60% 97.09 91.94 16
8 UKRAIN 0 2/1/2034 REGS 0.00% 02/01/34 5.55% 43.24 40.97 22
9 ATOFP 5 12/18/2030 5.00% 12/18/30 5.50% 57.03 54.05 18
10 MODV 5 10/1/2029 144A 5.00% 10/01/29 5.40% 45.03 42.73 23

Bottom 10 Performers

Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 1/17/25 – 1/24/25

 

 

 

 

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 NWDEVL 4.125 7/18/2029 4.13% 07/18/29 -29.70% 39.57 56.28 24
2 SELNSW 8.044 4/1/2026 REGS 8.00% 04/01/26 -9.80% 70.34 77.99 10
3 ROADKG 5.125 1/26/2030 5.13% 01/26/30 -9.10% 35.69 39.26 19
4 ALTICE 4.75 1/15/2028 REGS 4.75% 01/15/28 -5.89% 45.52 48.37 19
5 BINHLD 9.625 2/28/2027 9.63% 02/28/27 -5.28% 96.72 102.11 9
6 THAMES 4 4/18/2027 4.00% 04/18/27 -3.38% 72.82 75.37 20
7 ORSTED 2.5 2/18/2021 2.50% 02/18/21 -2.40% 71.12 72.87 17
8 TLWLN 10.25 5/15/2026 REGS 10.25% 05/15/26 -2.31% 93.06 95.26 27
9 CHEPDE 4.375 1/15/2028 REGS 4.38% 01/15/28 -2.15% 88.49 90.43 22
10 MPW 3.375 4/24/2030 3.38% 04/24/30 -2.07% 64.71 66.07 16

Avg Industry Price

Displays the HY Corp average industry price by sector between 1/17/25 – 1/24/25

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 1/17/25 – 1/24/25

Top Quote Volume Movers: This Week vs Last Week

Exhibits the HY Corps with the largest increase in quote volume for the week ending 1/17/25 vs. the week ending 1/24/25

 

 

 

 

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 METINV 7.75 10/17/2029 144A 7.75% 10/17/29 12 80 68 567%
2 SAPSJ 3.125 4/15/2026 REGS 3.13% 04/15/26 164 218 54 33%
3 TALKLN 8.25 9/1/2027 8.25% 09/01/27 36 88 52 144%
4 ATOFP 5 12/18/2030 144A 5.00% 12/18/30 62 110 48 77%
5 JWN 4.25 8/1/2031 4.25% 08/01/31 25 67 42 168%
6 PIZEXP 6.75 7/15/2026 REGS 6.75% 07/15/26 144 180 36 25%
7 KPERST 6.5 9/1/2026 REGS 6.50% 09/01/26 166 201 35 21%
8 FG 5.5 5/1/2025 144A 5.50% 05/01/25 106 140 34 32%
9 POWSOL 6.75 5/15/2028 144A 6.75% 05/15/28 264 298 34 13%
10 POWSOL 6.25 5/15/2026 144A 6.25% 05/15/26 243 276 33 14%

Most Quoted HY Corps

Ranks the HY Corps that were quoted by the highest number of dealers between 1/17/25 – 1/24/25

 

 

 

 

RANK TRANCHE COUPON MATURITY DEALERS
1 F 5.875 11/7/2029 5.88% 11/07/29 39
2 F 6.5 2/7/2035 6.50% 02/07/35 37
3 SANTAN 9.625 PERP 9.63% 11/21/99 36
4 DVN 5.2 9/15/2034 5.20% 09/15/34 36
5 TMUS 5.05 7/15/2033 5.05% 07/15/33 35
6 INTNED 7.25 PERP 7.25% NULL 34
7 LLOYDS 7.5 PERP 7.50% NULL 34
8 BACR 6.125 PERP 6.13% NULL 34
9 SANTAN 8 PERP 8.28% NULL 34
10 UBS 7 PERP 7.00% NULL 34

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 1/17/25 – 1/24/25

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