High Yield Corporate Bond Market Summary – Week Ending 2/28/25
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High Yield Corporate Bond Market Summary: Week Ending 2/28/25
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 |
|---|---|---|---|
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 2/21/25 – 2/28/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | NWDEVL 6.25 PERP | 6.25% | NULL | 15.76% | 30.59 | 26.43 | 18 |
| 2 | SFRFP 4 2/15/2028 REGS | 4.00% | 02/15/28 | 13.15% | 30.02 | 26.53 | 18 |
| 3 | NEWLSQ 15.5 11/1/2023 144A | 15.50% | 11/01/23 | 10.76% | 36.83 | 33.26 | 11 |
| 4 | PROGST 3.25 12/15/2024 REGS | 3.25% | 12/15/24 | 7.26% | 30.23 | 28.19 | 9 |
| 5 | HLF 4.875 6/1/2029 144A | 4.88% | 06/01/29 | 6.62% | 78.50 | 73.63 | 25 |
| 6 | LIFUNG 5.25 PERP | 5.25% | NULL | 5.21% | 54.47 | 51.77 | 10 |
| 7 | BHCCN 5.25 2/15/2031 | 5.25% | 02/15/31 | 5.01% | 61.50 | 58.57 | 20 |
| 8 | DISH 5.125 6/1/2029 | 5.13% | 06/01/29 | 4.14% | 67.25 | 64.58 | 21 |
| 9 | COMM 7.125 7/1/2028 144A | 7.13% | 07/01/28 | 4.10% | 94.18 | 90.47 | 24 |
| 10 | ROADKG 5.125 1/26/2030 | 5.13% | 01/26/30 | 3.92% | 39.64 | 38.14 | 18 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 2/21/25 – 2/28/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | XRXCRP 4.8 3/1/2035 | 4.80% | 03/01/35 | -5.79% | 57.87 | 61.43 | 18 |
| 2 | NFE 8.75 3/15/2029 144A | 8.75% | 03/15/29 | -5.47% | 83.37 | 88.20 | 24 |
| 3 | CNECN 5.75 11/24/2028 144A | 5.75% | 11/24/28 | -5.12% | 50.74 | 53.48 | 22 |
| 4 | ATOFP 5 12/18/2030 | 5.00% | 12/18/30 | -4.68% | 75.54 | 79.25 | 20 |
| 5 | ALTG 9 6/1/2029 144A | 9.00% | 06/01/29 | -4.12% | 93.31 | 97.31 | 23 |
| 6 | RIG 7.5 4/15/2031 | 7.50% | 04/15/31 | -4.03% | 87.96 | 91.65 | 20 |
| 7 | SFRFP 3.375 1/15/2028 REGS | 3.38% | 01/15/28 | -3.89% | 78.34 | 81.51 | 19 |
| 8 | LMRTSP 8.096 PERP | 8.10% | NULL | -3.77% | 44.61 | 46.36 | 9 |
| 9 | VCPLN 3.75 3/15/2028 | 3.75% | 03/15/28 | -3.54% | 62.47 | 64.76 | 18 |
| 10 | AZUBBZ 11.5 8/28/2029 144A | 11.50% | 08/28/29 | -3.51% | 59.39 | 61.56 | 11 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 2/21/25 – 2/28/25 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 2/21/25 – 2/28/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 2/21/25 vs. the week ending 2/28/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | SPLS 10.75 9/1/2029 144A | 10.75% | 09/01/29 | 126 | 258 | 132 | 105% |
| 2 | LTH 6 11/15/2031 144A | 6.00% | 11/15/31 | 15 | 147 | 132 | 880% |
| 3 | ABNANV 5.75 PERP | 7.70% | 12/29/49 | 44 | 148 | 104 | 236% |
| 4 | CALCOL 7.625 1/30/2032 144A | 7.63% | 01/30/32 | 105 | 201 | 96 | 91% |
| 5 | MOVIBZ 5.25 2/8/2031 | 5.25% | 02/08/31 | 1 | 92 | 91 | 9100% |
| 6 | TPGE 6.875 12/1/2032 | 6.88% | 12/01/32 | 51 | 130 | 79 | 155% |
| 7 | METINV 7.75 10/17/2029 144A | 7.75% | 10/17/29 | 10 | 80 | 70 | 700% |
| 8 | NWL 7 4/1/2046 | 7.00% | 04/01/46 | 163 | 228 | 65 | 40% |
| 9 | CVNA 13 6/1/2030 REGS | 11.00% | 06/01/30 | 30 | 90 | 60 | 200% |
| 10 | ITAU 6 1/7/2030 | 6.00% | 01/07/30 | 15 | 75 | 60 | 400% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 2/21/25 – 2/28/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | UBS 7 PERP | 7.00% | NULL | 36 |
| 2 | F 6.5 2/7/2035 | 6.50% | 02/07/35 | 35 |
| 3 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 35 |
| 4 | BACR 6.125 PERP | 6.13% | NULL | 34 |
| 5 | SANTAN 8 PERP | 8.28% | NULL | 34 |
| 6 | HESM 5.625 2/15/2026 144A | 5.63% | 02/15/26 | 34 |
| 7 | F 6.125 3/8/2034 | 6.13% | 03/08/34 | 34 |
| 8 | BACR 4.375 PERP | 4.38% | NULL | 33 |
| 9 | LLOYDS 7.5 PERP | 7.50% | NULL | 33 |
| 10 | ADNT 4.875 8/15/2026 144A | 4.88% | 08/15/26 | 33 |
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 2/21/25 – 2/28/25
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