Corporates

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Investment Grade 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.

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New Issues

IG Corp bond new issues for the week ending 2/21/25, issue size of $50 million and larger

 

 

 

ISSUE COLLATERAL TYPE AMT ISSUED (MM) PRC AT ISSUANCE YIELD AT ISSUANCE (%) SPREAD AT ISSUE
General Motors of Canada Limited (CAD) 4.45% 2/25/2030 Senior Notes 450 99.858 4.48 155
Westpac New Zealand LTD (USD) 4.938% 2/27/2030 Senior Notes 750 100 4.94 60
Selective Insurance Group (USD) 5.9% 4/15/2035 Senior Notes 400 99.978 5.9 140
Enbridge Inc. (CAD) 4.56% 2/25/2035 Senior Notes 700 99.968 4.56 139

Top 10 Performers

Showcases the top 10 IG 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 LASUDE 5 7/28/2026 5.00% 07/28/26 14.13% 63.41 55.56 12
2 SWSFIN 7.375 12/12/2041 7.38% 12/12/41 8.94% 98.22 90.17 20
3 TSINGH 5.375 1/31/2023 5.38% 01/31/23 8.39% 78.24 72.18 11
4 THAMES 2.625 1/24/2032 1.00% 01/26/32 4.77% 73.24 69.91 10
5 HPP 3.25 1/15/2030 3.25% 01/15/30 3.58% 73.65 71.11 20
6 INTC 5.05 8/5/2062 5.05% 08/05/62 3.07% 82.36 79.91 29
7 HYSAN 4.85 PERP 4.85% NULL 2.87% 69.25 67.32 11
8 AGRFIN 1.625 6/30/2033 1.63% 06/30/33 2.53% 77.86 75.93 14
9 BK 0 PERP 0.00% NULL 2.42% 87.91 85.83 10
10 ETR 5.15 6/1/2045 5.15% 06/01/45 2.17% 94.28 92.28 8

Bottom 10 Performers

Showcases the bottom 10 IG 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 ETLFP 9.75 4/13/2029 REGS 9.75% 04/13/29 -7.52% 84.08 90.92 20
2 NGGLN 1.6574 7/28/2056 1.66% 07/28/56 -3.28% 68.44 70.76 4
3 LNGFOR 3.85 1/13/2032 3.85% 01/13/32 -3.25% 67.12 69.38 20
4 SESGFP 2.875 PERP 2.88% NULL -2.86% 92.37 95.08 23
5 EU 0.7 7/6/2051 0.70% 07/06/51 -2.29% 53.95 55.22 9
6 ROMANI 6.125 1/22/2044 REGS 3.80% 12/14/27 -2.25% 85.89 87.87 14
7 UKRAIL 1.125 11/22/2047 1.13% 11/22/47 -2.19% 83.86 85.74 5
8 SSWTR 1.843 6/30/2051 1.84% 06/30/51 -2.03% 67.94 69.35 3
9 UU 1.7829 12/14/2040 2.50% 12/14/40 -1.96% 169.81 173.21 5
10 AWLN 2.262 8/1/2045 2.26% 08/01/45 -1.92% 81.91 83.51 10

Top 10 Industry Performers

Showcases the top 10 IG industry performers based on the largest yield increases between 2/14/25 – 2/21/25

 

 

 

 

 

 

 

 

 

RANK INDUSTRY CHANGE YLD YLD-1W
1 Finance -46 bps 5.23% 5.69%
2 Services: Business -18 bps 3.79% 3.97%
3 Wholesale -14 bps 5.66% 5.80%
4 Media: Diversified & Production -11 bps 4.77% 4.88%
5 Banking -11 bps 4.39% 4.50%
6 Consumer Goods: Non-Durable -10 bps 4.52% 4.62%
7 Automotive -10 bps 4.72% 4.82%
8 Hotel, Gaming & Leisure -9 bps 4.71% 4.80%
9 Media: Advertising, Printing & Publishing -9 bps 5.66% 5.74%
10 Energy: Oil & Gas -7 bps 5.22% 5.30%

Bottom 10 Industry Performers

Showcases the bottom 10 IG industry performers based on the largest yield decreases between 2/14/25 – 2/21/25

 

 

 

 

 

 

 

 

RANK INDUSTRY CHANGE YLD YLD-1W
1 Consumer Goods: Durable 23 bps 4.24% 4.01%
2 Transportation: Consumer 10 bps 4.90% 4.80%
3 Metals & Mining 9 bps 4.96% 4.86%
4 Chemicals, Plastics & Rubber 8 bps 4.88% 4.79%
5 Transportation: Cargo 4 bps 4.90% 4.86%
6 Services: Consumer 4 bps 5.11% 5.07%
7 Energy: Electricity 2 bps 4.42% 4.39%
8 Real Estate 0 bps 6.28% 6.28%
9 Healthcare & Pharmaceuticals 0 bps 4.46% 4.47%
10 Beverage, Food & Tobacco -1 bps 4.26% 4.27%

5 Year Yield By Industry

Displays the average IG Corp 5 year yield by industry 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 IG Corps increasing in price (advancers) vs. IG Corps decreasing in price (decliners) between 2/14/25 – 2/21/25

Top Quote Volume Movers: This Week vs Last Week

Exhibits the IG 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 ROMANI 5.25 3/10/2030 REGS 5.25% 03/10/30 86 166 80 93%
2 SWSFIN 5 3/31/2041 5.00% 03/31/41 96 170 74 77%
3 ROMANI 6.25 9/10/2034 REGS 6.25% 09/10/34 92 161 69 75%
4 ROMANI 7.5 2/10/2037 REGS 7.50% 02/10/37 109 174 65 60%
5 BNP 5.283 11/19/2030 REGS 5.61% 11/19/30 130 195 65 50%
6 STANLN 0.9 7/2/2027 0.90% 07/02/27 152 210 58 38%
7 CDEL 3.15 1/15/2051 144A 3.15% 01/15/51 82 140 58 71%
8 CMZB 4.625 3/21/2028 4.72% 03/21/28 180 235 55 31%
9 LLOYDS 4.344 1/9/2048 4.34% 01/09/48 202 255 53 26%
10 BBLTB 4.45 9/19/2028 REGS 4.45% 09/19/28 186 237 51 27%

Most Quoted IG Corps

Ranks the IG Corps that were quoted by the highest number of dealers between 2/14/25 – 2/21/25

 

 

 

 

 

 

 

 

RANK TRANCHE COUPON MATURITY DEALERS
1 NEE 5.9 3/15/2055 5.90% 03/15/55 41
2 NEE 5.45 3/15/2035 5.45% 03/15/35 39
3 HON 5 3/1/2035 5.00% 03/01/35 38
4 PEP 5 2/7/2035 5.00% 02/07/35 38
5 NEE 5.05 3/15/2030 5.05% 03/15/30 38
6 OKE 5.7 11/1/2054 5.70% 11/01/54 38
7 NEE 5.3 3/15/2032 5.30% 03/15/32 38
8 KMI 5.95 8/1/2054 5.95% 08/01/54 37
9 NEE 5.25 3/15/2034 5.25% 03/15/34 37
10 TOYOTA 5.35 1/9/2035 5.35% 01/09/35 37

Bid-Offer Spread by Industry

Displays the IG Corp average bid-offer spread by industry between 2/14/25 – 2/21/25

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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