High Yield Corporate Bond Market Summary – Week Ending 1/31/25
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High Yield Corporate Bond Market Summary: Week Ending 1/31/25
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 |
|---|---|---|---|
| Directv Financing, Llc And Directv Financing Co-Obligor, Inc. | $1.75 billion senior secured notes due Feb. 15, 2031 (B1/BB-/BBB-) | BARC | Q1 2025 |
| Long Ridge Energy Llc | $500 million seven-year first-lien senior secured notes (B1/B) | MS | Q1 2025 |
| Connect Holding Ii Llc (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 1/24/25 – 1/31/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | EAGRUY 7.5 5/1/2025 144A | 7.50% | 05/01/25 | 44.92% | 90.79 | 62.65 | 5 |
| 2 | NWDEVL 5.25 PERP | 5.25% | NULL | 15.23% | 25.41 | 22.06 | 20 |
| 3 | STPRAU 6.25 4/30/2026 REGS | 6.25% | 04/30/26 | 12.99% | 51.42 | 45.51 | 16 |
| 4 | ATOFP 5 12/18/2030 | 5.00% | 12/18/30 | 11.34% | 63.49 | 57.03 | 18 |
| 5 | CNECN 5.75 11/24/2028 144A | 5.75% | 11/24/28 | 7.34% | 58.18 | 54.20 | 18 |
| 6 | AFFGAM 6.875 12/15/2027 144A | 6.88% | 12/15/27 | 7.10% | 84.23 | 78.65 | 24 |
| 7 | ECUA 5.5 7/31/2035 REGS | 5.50% | 07/31/35 | 6.55% | 65.95 | 61.90 | 8 |
| 8 | CERBA 5 5/31/2029 REGS | 5.00% | 05/31/29 | 5.91% | 66.44 | 62.73 | 20 |
| 9 | GFKLDE 6.75 11/1/2025 REGS | 6.75% | 11/01/25 | 5.57% | 69.06 | 65.42 | 19 |
| 10 | TLWLN 7 3/1/2025 REGS | 7.00% | 03/01/25 | 4.83% | 98.89 | 94.33 | 28 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 1/24/25 – 1/31/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | ALNMED 10.5 2/15/2028 | 10.50% | 02/15/28 | -16.82% | 36.15 | 43.46 | 14 |
| 2 | SATS 6.625 8/1/2026 | 6.63% | 08/01/26 | -8.43% | 69.14 | 75.50 | 24 |
| 3 | AZUBBZ 11.93 8/28/2028 REGS | 11.93% | 08/28/28 | -6.43% | 93.69 | 100.13 | 12 |
| 4 | QVCN 5.95 3/15/2043 | 5.95% | 03/15/43 | -6.10% | 55.55 | 59.16 | 19 |
| 5 | CYH 6.125 4/1/2030 144A | 6.13% | 04/01/30 | -6.10% | 65.31 | 69.55 | 23 |
| 6 | CSCHLD 5.75 1/15/2030 144A | 5.75% | 01/15/30 | -5.99% | 58.27 | 61.98 | 26 |
| 7 | CDK 8 6/15/2029 144A | 8.00% | 06/15/29 | -5.36% | 96.31 | 101.76 | 24 |
| 8 | GRAANU 4.625 10/15/2026 REGS | 4.63% | 10/15/26 | -5.20% | 87.94 | 92.76 | 17 |
| 9 | LVLT 3.625 1/15/2029 144A | 3.63% | 01/15/29 | -4.13% | 77.22 | 80.55 | 22 |
| 10 | HLF 4.875 6/1/2029 144A | 4.88% | 06/01/29 | -4.03% | 68.02 | 70.87 | 27 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 1/24/25 – 1/31/25 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 1/24/25 – 1/31/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 1/24/25 vs. the week ending 1/31/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | ARDGRP 8.875 2/15/2032 REGS | 8.88% | 02/15/32 | 20 | 180 | 160 | 800% |
| 2 | JWN 4.25 8/1/2031 | 4.25% | 08/01/31 | 67 | 207 | 140 | 209% |
| 3 | CSTM 5.625 6/15/2028 144A | 5.63% | 06/15/28 | 64 | 204 | 140 | 219% |
| 4 | WYNFIN 6.25 3/15/2033 144A | 6.25% | 03/15/33 | 10 | 128 | 118 | 1180% |
| 5 | BUBBID FLT 9/30/2031 REGS | #VALUE! | 09/30/31 | 65 | 139 | 74 | 114% |
| 6 | CC 5.75 11/15/2028 REGS | 5.75% | 11/15/28 | 260 | 325 | 65 | 25% |
| 7 | BUBBID 6.5 9/30/2031 REGS | 6.50% | 09/30/31 | 110 | 171 | 61 | 55% |
| 8 | OBDCII 8.45 11/15/2026 | 8.45% | 11/15/26 | 35 | 95 | 60 | 171% |
| 9 | SOFTBK 3.375 7/6/2029 | 3.38% | 07/06/29 | 207 | 257 | 50 | 24% |
| 10 | ACCINV 5.5 10/31/2031 REGS | 5.50% | 11/15/31 | 114 | 161 | 47 | 41% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 1/24/25 – 1/31/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | F 5.875 11/7/2029 | 5.88% | 11/07/29 | 41 |
| 2 | F 6.5 2/7/2035 | 6.50% | 02/07/35 | 40 |
| 3 | TMUS 5.05 7/15/2033 | 5.05% | 07/15/33 | 38 |
| 4 | DVN 5.2 9/15/2034 | 5.20% | 09/15/34 | 36 |
| 5 | GFLCN 3.75 8/1/2025 144A | 3.75% | 08/01/25 | 35 |
| 6 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 35 |
| 7 | F 5.303 9/6/2029 | 5.30% | 09/06/29 | 35 |
| 8 | OXY 6.05 10/1/2054 | 6.05% | 10/01/54 | 34 |
| 9 | LLOYDS 7.5 PERP | 7.50% | NULL | 34 |
| 10 | SANTAN 8 PERP | 8.28% | 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 1/24/25 – 1/31/25
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