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High Yield Corporate Bond Market Summary:
Week Ending 3/28/25
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 |
| Brightspeed | $1.865 billion senior secured notes | Q2 2025 | |
| Owens & Minor | $600MM senior secured notes | CITI | Q2 2025 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 3/21/25 – 3/28/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | BALY 5.875 9/1/2031 144A | 5.88% | 09/01/31 | 16.45% | 66.25 | 56.89 | 22 |
| 2 | CSCHCN 9 10/9/2024 | 9.00% | 10/09/24 | 15.36% | 34.49 | 29.90 | 14 |
| 3 | HTZ 4.625 12/1/2026 144A | 4.63% | 12/01/26 | 13.03% | 69.51 | 61.50 | 28 |
| 4 | WW 4.5 4/15/2029 144A | 4.50% | 04/15/29 | 10.27% | 26.18 | 23.74 | 17 |
| 5 | SSP 5.375 1/15/2031 144A | 5.38% | 01/15/31 | 7.20% | 62.40 | 58.21 | 22 |
| 6 | SBGI 5.5 3/1/2030 144A | 5.50% | 03/01/30 | 6.26% | 74.38 | 69.99 | 21 |
| 7 | GRNLGR 6.6 11/13/2028 | 5.60% | 11/13/28 | 5.91% | 26.36 | 24.89 | 6 |
| 8 | MIK 7.875 5/1/2029 144A | 7.88% | 05/01/29 | 5.75% | 55.85 | 52.81 | 29 |
| 9 | TLWLN 10.25 5/15/2026 144A | 10.25% | 05/15/26 | 5.73% | 92.55 | 87.54 | 6 |
| 10 | MOVIBZ 7.85 4/11/2029 144A | 7.85% | 04/11/29 | 5.55% | 87.73 | 83.12 | 17 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 3/21/25 – 3/28/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | XRXCRP 6.75 12/15/2039 | 6.75% | 12/15/39 | -19.83% | 46.48 | 57.98 | 19 |
| 2 | LABL 8.25 11/1/2029 144A | 8.25% | 11/01/29 | -9.85% | 64.91 | 72.00 | 23 |
| 3 | ATALIA 8.5 6/30/2028 | 8.50% | 06/30/28 | -8.59% | 43.83 | 47.95 | 7 |
| 4 | NWDEVL 6.25 PERP | 6.25% | NULL | -7.67% | 36.40 | 39.42 | 17 |
| 5 | EBS 3.875 8/15/2028 144A | 3.88% | 08/15/28 | -7.53% | 70.13 | 75.85 | 18 |
| 6 | IMGRP 8 3/1/2028 | 8.00% | 03/01/28 | -6.62% | 49.68 | 53.21 | 15 |
| 7 | BHCCN 5 1/30/2028 144A | 5.00% | 01/30/28 | -6.31% | 74.77 | 79.80 | 23 |
| 8 | UKRAIN FLT 8/1/2041 REGS | 7.75% | 08/01/41 | -5.10% | 75.49 | 79.55 | 21 |
| 9 | STPRAU 6.25 4/30/2026 REGS | 6.25% | 04/30/26 | -4.97% | 52.62 | 55.37 | 17 |
| 10 | ATLNSA 10.375 1/30/2030 144A | 10.38% | 01/30/30 | -4.70% | 74.22 | 77.89 | 13 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 3/21/25 – 3/28/25
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 3/21/25 – 3/28/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 3/21/25 vs. the week ending 3/28/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | BLURAC 7 7/15/2029 REGS | 7.00% | 07/15/29 | 94 | 234 | 140 | 149% |
| 2 | ST 3.75 2/15/2031 144A | 3.75% | 02/15/31 | 70 | 181 | 111 | 159% |
| 3 | XIFR 3.875 10/15/2026 144A | 3.88% | 10/15/26 | 81 | 182 | 101 | 125% |
| 4 | XIFR 7.25 1/15/2029 144A | 7.25% | 01/15/29 | 83 | 182 | 99 | 119% |
| 5 | XIFR 4.5 9/15/2027 144A | 4.50% | 09/15/27 | 100 | 192 | 92 | 92% |
| 6 | ST 4 4/15/2029 144A | 4.00% | 04/15/29 | 70 | 148 | 78 | 111% |
| 7 | DOMREP 7.45 4/30/2044 REGS | 7.45% | 04/30/44 | 50 | 118 | 68 | 136% |
| 8 | COGREN 9.5 2/24/2027 REGS | 9.50% | 02/24/27 | 138 | 201 | 63 | 46% |
| 9 | ROOKIE 6.75 3/15/2033 | 6.75% | 03/15/33 | 154 | 213 | 59 | 38% |
| 10 | IHOVER 6.75 11/15/2029 REGS | 6.75% | 11/15/29 | 179 | 229 | 50 | 28% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 3/21/25 – 3/28/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | GFLCN 5.125 12/15/2026 144A | 5.13% | 12/15/26 | 36 |
| 2 | TMUS 5.15 4/15/2034 | 5.15% | 04/15/34 | 36 |
| 3 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 36 |
| 4 | F 6.1 8/19/2032 | 6.10% | 08/19/32 | 36 |
| 5 | SANTAN 8 PERP | 8.28% | NULL | 36 |
| 6 | F 6.125 3/8/2034 | 6.13% | 03/08/34 | 35 |
| 7 | F 4.75 1/15/2043 | 4.75% | 01/15/43 | 35 |
| 8 | CHTR 5.25 4/1/2053 | 5.25% | 04/01/53 | 35 |
| 9 | GEL 8 1/15/2027 | 8.00% | 01/15/27 | 35 |
| 10 | BACR 6.125 PERP | 6.13% | NULL | 35 |
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 3/21/25 – 3/28/25
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