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High Yield Corporate Bond Market Summary:
Week Ending 2/7/25
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 | |
| Long Ridge Energy LLC | $500 million seven-year senior secured notes | MS | Q1 2025 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 1/31/25 – 2/7/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | DTEKUA 7 12/31/2027 | 7.00% | 12/31/27 | 13.29% | 75.83 | 66.93 | 17 |
| 2 | STPRAU 6.25 4/30/2026 REGS | 6.25% | 04/30/26 | 12.13% | 57.66 | 51.42 | 16 |
| 3 | NWDEVL 8.625 2/8/2028 | 8.63% | 02/08/28 | 10.58% | 55.74 | 50.41 | 19 |
| 4 | ATALIA 8.5 6/30/2028 | 8.50% | 06/30/28 | 10.48% | 51.40 | 46.52 | 14 |
| 5 | ATOFP 1 12/18/2032 | 1.00% | 12/18/32 | 10.38% | 31.55 | 28.58 | 19 |
| 6 | GLPSP 4.5 PERP | 8.11% | NULL | 10.35% | 60.02 | 54.39 | 12 |
| 7 | SBBBSS 2.875 PERP | 2.88% | NULL | 9.04% | 60.60 | 55.58 | 17 |
| 8 | SESGFP 6 9/12/2054 | 5.87% | 09/12/54 | 7.45% | 89.06 | 82.88 | 23 |
| 9 | GRAANU 4.625 10/15/2026 REGS | 4.63% | 10/15/26 | 7.04% | 94.13 | 87.94 | 18 |
| 10 | UKRAIN 0 2/1/2036 REGS | 0.00% | 02/01/36 | 6.77% | 65.19 | 61.05 | 22 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 1/31/25 – 2/7/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | NEWLSQ 15.5 11/1/2023 144A | 15.50% | 11/01/23 | -15.08% | 30.30 | 35.68 | 11 |
| 2 | VCPLN 3.75 3/15/2028 | 3.75% | 03/15/28 | -9.08% | 63.89 | 70.27 | 19 |
| 3 | IHRT 10.875 5/1/2030 144A | 10.88% | 05/01/30 | -8.42% | 64.00 | 69.89 | 17 |
| 4 | KEMONE 5.625 11/15/2028 REGS | 5.63% | 11/15/28 | -7.03% | 64.58 | 69.46 | 21 |
| 5 | ALTICE 4.75 1/15/2028 REGS | 4.75% | 01/15/28 | -6.32% | 41.10 | 43.87 | 19 |
| 6 | ATLNSA 10.375 1/30/2030 144A | 10.38% | 01/30/30 | -5.83% | 74.69 | 79.32 | 13 |
| 7 | OMI 6.625 4/1/2030 144A | 6.63% | 04/01/30 | -5.37% | 91.31 | 96.49 | 24 |
| 8 | NOVA 5.875 9/1/2026 144A | 5.88% | 09/01/26 | -4.74% | 79.82 | 83.79 | 18 |
| 9 | CSCHLD 4.625 12/1/2030 144A | 4.63% | 12/01/30 | -4.53% | 52.61 | 55.11 | 26 |
| 10 | CSCHCN 4.5 8/19/2027 | 4.50% | 08/19/27 | -3.72% | 26.17 | 27.18 | 12 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 1/31/25 – 2/7/25
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 1/31/25 – 2/7/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 1/31/25 vs. the week ending 2/7/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | ARDGRP 7.75 2/15/2031 REGS | 7.75% | 02/15/31 | 20 | 172 | 152 | 760% |
| 2 | FE 5 1/15/2035 | 5.00% | 01/15/35 | 20 | 125 | 105 | 525% |
| 3 | RADPAR 9.781 2/15/2030 144A | 9.78% | 02/15/30 | 20 | 104 | 84 | 420% |
| 4 | TMUS 4.95 3/15/2028 | 4.95% | 03/15/28 | 202 | 283 | 81 | 40% |
| 5 | AZUBBZ 11.93 8/28/2028 REGS | 11.93% | 08/28/28 | 58 | 128 | 70 | 121% |
| 6 | TMUS 2.625 2/15/2029 | 2.63% | 02/15/29 | 218 | 287 | 69 | 32% |
| 7 | ERSTBK 4.25 PERP | 4.25% | NULL | 236 | 303 | 67 | 28% |
| 8 | BKIR 6 PERP | 6.00% | NULL | 224 | 288 | 64 | 29% |
| 9 | SLM 4.2 10/29/2025 | 4.20% | 10/29/25 | 141 | 203 | 62 | 44% |
| 10 | FE 4.55 1/15/2030 | 4.55% | 01/15/30 | 6 | 68 | 62 | 1033% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 1/31/25 – 2/7/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | F 6.5 2/7/2035 | 6.50% | 02/07/35 | 39 |
| 2 | TMUS 5.05 7/15/2033 | 5.05% | 07/15/33 | 38 |
| 3 | F 5.875 11/7/2029 | 5.88% | 11/07/29 | 37 |
| 4 | UBS 7 PERP | 7.00% | NULL | 36 |
| 5 | TMUS 5.15 4/15/2034 | 5.15% | 04/15/34 | 35 |
| 6 | GFLCN 3.75 8/1/2025 144A | 3.75% | 08/01/25 | 35 |
| 7 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 35 |
| 8 | MXCN 5.25 12/15/2029 | 5.25% | 12/15/29 | 34 |
| 9 | CABKSM 5.25 PERP | 5.25% | NULL | 34 |
| 10 | APA 6.75 2/15/2055 144A | 6.75% | 02/15/55 | 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 1/31/25 – 2/7/25
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