Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 2/21/25
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 2/14/25 – 2/21/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | FOURSN 8.75 6/15/2019 REGS | 8.75% | 06/15/19 | 19.47% | 70.19 | 58.75 | 4 |
| 2 | BHCCN 5.25 1/30/2030 144A | 5.25% | 01/30/30 | 17.37% | 61.15 | 52.10 | 19 |
| 3 | NWDEVL 5.875 6/16/2027 | 5.88% | 06/16/27 | 16.20% | 71.50 | 61.53 | 19 |
| 4 | HLF 4.875 6/1/2029 144A | 4.88% | 06/01/29 | 13.21% | 73.63 | 65.04 | 26 |
| 5 | ATOFP 5 12/18/2030 | 5.00% | 12/18/30 | 11.46% | 79.25 | 71.10 | 20 |
| 6 | CYH 6.125 4/1/2030 144A | 6.13% | 04/01/30 | 10.62% | 70.18 | 63.44 | 21 |
| 7 | SATS 6.625 8/1/2026 | 6.63% | 08/01/26 | 9.39% | 77.09 | 70.48 | 23 |
| 8 | KEMONE 5.625 11/15/2028 REGS | 5.63% | 11/15/28 | 9.23% | 73.25 | 67.06 | 20 |
| 9 | NEWLSQ 15.5 11/1/2023 144A | 15.50% | 11/01/23 | 8.59% | 33.26 | 30.62 | 11 |
| 10 | PFLEID 4.75 4/15/2029 REGS | 4.75% | 04/15/29 | 5.05% | 88.88 | 84.61 | 16 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 2/14/25 – 2/21/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | CCL 5.75 1/15/2030 144A | 5.75% | 01/15/30 | -7.09% | 100.58 | 108.26 | 21 |
| 2 | UKRAIN 0 2/1/2034 REGS | 0.00% | 02/01/34 | -5.91% | 43.07 | 45.77 | 24 |
| 3 | CVNA 14 6/1/2031 REGS | 9.00% | 06/01/31 | -5.67% | 113.44 | 120.25 | 14 |
| 4 | RWANDA 5.5 8/9/2031 REGS | 5.50% | 08/09/31 | -5.28% | 78.11 | 82.46 | 15 |
| 5 | LILAPR 5.125 7/15/2029 144A | 5.13% | 07/15/29 | -5.23% | 78.75 | 83.10 | 20 |
| 6 | AZUBBZ 11.5 8/28/2029 144A | 11.50% | 08/28/29 | -5.02% | 61.56 | 64.81 | 10 |
| 7 | UONE 7.375 2/1/2028 144A | 7.38% | 02/01/28 | -5.01% | 51.00 | 53.69 | 20 |
| 8 | JELD 7 9/1/2032 144A | 7.00% | 09/01/32 | -3.01% | 91.41 | 94.24 | 22 |
| 9 | CNR 6.125 1/15/2029 144A | 6.13% | 01/15/29 | -2.88% | 76.93 | 79.21 | 27 |
| 10 | ARGENT 3.875 7/9/2035 | 3.88% | 07/09/35 | -2.68% | 62.84 | 64.57 | 13 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 2/14/25 – 2/21/25
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 2/14/25 – 2/21/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 2/14/25 vs. the week ending 2/21/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | NWL 5.375 4/1/2036 | 6.88% | 04/01/36 | 118 | 224 | 106 | 90% |
| 2 | TURKTI 7.375 5/20/2029 REGS | 7.38% | 05/20/29 | 76 | 148 | 72 | 95% |
| 3 | DOMREP 4.875 9/23/2032 144A | 4.88% | 09/23/32 | 84 | 154 | 70 | 83% |
| 4 | NWL 7 4/1/2046 | 7.00% | 04/01/46 | 99 | 163 | 64 | 65% |
| 5 | MACEDO 6.25 2/15/2027 144A | 6.96% | 03/13/27 | 4 | 68 | 64 | 1600% |
| 6 | CCL 5.75 1/15/2030 144A | 5.75% | 01/15/30 | 96 | 154 | 58 | 60% |
| 7 | STYRO 6.75 4/15/2030 REGS | 6.75% | 04/15/30 | 147 | 200 | 53 | 36% |
| 8 | EDPPL 1.875 8/2/2081 | 1.88% | 08/02/81 | 204 | 255 | 51 | 25% |
| 9 | UNIGEL 11 12/31/2028 REGS | 11.00% | 12/31/28 | 48 | 98 | 50 | 104% |
| 10 | MLTPLN 6 3/31/2031 144A | 6.00% | 03/31/31 | 62 | 110 | 48 | 77% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 2/14/25 – 2/21/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | F 6.5 2/7/2035 | 6.50% | 02/07/35 | 37 |
| 2 | UBS 7 PERP | 7.00% | NULL | 37 |
| 3 | F 5.875 11/7/2029 | 5.88% | 11/07/29 | 36 |
| 4 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 35 |
| 5 | SANTAN 8 PERP | 8.28% | NULL | 35 |
| 6 | LLOYDS 7.5 PERP | 7.50% | NULL | 34 |
| 7 | DVN 5.75 9/15/2054 | 5.75% | 09/15/54 | 34 |
| 8 | TMUS 5.15 4/15/2034 | 5.15% | 04/15/34 | 34 |
| 9 | TMUS 5.05 7/15/2033 | 5.05% | 07/15/33 | 34 |
| 10 | BACR 6.125 PERP | 6.13% | 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 2/14/25 – 2/21/25
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