Corporates

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Investment Grade 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.

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New Issues

IG Corp bond new issues for the week ending 3/28/25, issue size of $50 million and larger

 

 

 

 

 

 

ISSUE COLLATERAL TYPE AMT ISSUED (MM) PRC AT ISSUANCE YIELD AT ISSUANCE (%) SPREAD AT ISSUE
Vici Properties LLC (USD) 5.625% 4/1/2035 Senior Unsecured Notes 900 99.219 5.73 140
Glencore Funding LLC (USD) 6.141% 4/1/2055 Senior Notes 500 100 6.14 145
GA Global Funding Trust (USD) 5.5% 4/1/2032 Senior Notes 500 99.948 5.51 130
Dell International LLC (USD) 5.5% 4/1/2035 Senior Unsecured Notes 1000 99.681 5.54 120

Top 10 Performers

Showcases the top 10 IG 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 WBA 4.65 6/1/2046 4.65% 06/01/46 3.26% 86.83 84.09 22
2 LUMN 4.125 4/15/2030 144A 4.13% 04/15/30 2.60% 94.17 91.78 16
3 TLGRAM 7 3/22/2026 7.00% 03/22/26 2.44% 99.58 97.21 10
4 UBIFP 0.878 11/24/2027 0.88% 11/24/27 2.32% 89.91 87.87 15
5 OB 10 2/15/2030 144A 10.00% 02/15/30 2.29% 87.08 85.13 18
6 RE 0 5/15/2037 7.50% 05/01/67 1.69% 97.32 95.70 9
7 TSINGH 4.75 1/31/2021 4.75% 01/31/21 1.58% 78.13 76.91 12
8 IVN 7.875 1/23/2030 144A 7.88% 01/23/30 1.29% 101.15 99.86 21
9 TRANSM 4.7 4/16/2034 REGS 4.70% 04/16/34 1.26% 96.18 94.98 18
10 ENDVR 3.607 3/28/2031 3.61% 03/28/31 1.01% 249.00 246.51 5

Bottom 10 Performers

Showcases the bottom 10 IG 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 PETMK 3.404 4/28/2061 REGS 3.40% 04/28/61 -4.37% 64.54 67.49 21
2 FRDFND 2.815 6/1/2070 2.82% 06/01/70 -4.31% 55.97 58.49 6
3 KLLOGG 2.443 10/1/2050 144A 2.44% 10/01/50 -4.17% 58.22 60.76 4
4 PANAMA 3.87 7/23/2060 3.87% 07/23/60 -4.11% 53.42 55.71 22
5 GTOWNU 5.115 4/1/2053 5.12% 04/01/53 -4.07% 92.76 96.70 5
6 BAYNGR 4.7 7/15/2064 144A 4.70% 07/15/64 -4.04% 71.53 74.54 21
7 CKHH 3.375 5/8/2050 144A 3.38% 05/08/50 -4.04% 69.28 72.19 13
8 LEG 3.5 11/15/2051 3.50% 11/15/51 -3.98% 59.62 62.09 14
9 SO 3.15 9/30/2051 3.15% 09/30/51 -3.96% 62.46 65.04 17
10 INTC 3.05 8/12/2051 3.05% 08/12/51 -3.96% 58.19 60.59 24

Top 10 Industry Performers

Showcases the top 10 IG industry performers based on the largest yield increases between 3/21/25 – 3/28/25

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RANK INDUSTRY CHANGE YLD YLD-1W
1 Media: Diversified & Production -94 bps 4.81% 5.75%
2 Finance -35 bps 5.41% 5.76%
3 Consumer Goods: Durable -30 bps 3.81% 4.11%
4 Media: Advertising, Printing & Publishing -21 bps 6.61% 6.82%
5 Beverage, Food & Tobacco -4 bps 4.10% 4.15%
6 Aerospace & Defense -3 bps 5.15% 5.18%
7 Construction & Building -2 bps 4.45% 4.46%
8 Insurance -1 bps 4.67% 4.68%
9 Sovereign & Public Finance 0 bps 3.79% 3.79%
10 Capital Equipment 0 bps 4.27% 4.27%

Bottom 10 Industry Performers

Showcases the bottom 10 IG industry performers based on the largest yield decreases between 3/21/25 – 3/28/25

 

 

 

 

 

 

 

 

 

 

 

 

 

RANK INDUSTRY CHANGE YLD YLD-1W
1 Transportation: Cargo 16 bps 4.94% 4.78%
2 Services: Business 13 bps 3.96% 3.83%
3 Utilities: Water 12 bps 5.21% 5.10%
4 Utilities: Oil & Gas 12 bps 4.64% 4.52%
5 Real Estate 11 bps 6.41% 6.30%
6 Chemicals, Plastics & Rubber 11 bps 5.03% 4.92%
7 Automotive 10 bps 4.70% 4.60%
8 Forest Products & Paper 10 bps 4.42% 4.33%
9 Consumer Goods: Non-Durable 9 bps 4.57% 4.48%
10 Environmental Industries 8 bps 4.63% 4.55%

5 Year Yield By Industry

Displays the average IG Corp 5 year yield by industry 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 IG Corps increasing in price (advancers) vs. IG Corps decreasing in price (decliners) between 3/21/25 – 3/28/25

Top Quote Volume Movers: This Week vs Last Week

Exhibits the IG Corps with the largest increase in quote volume for the week ending 3/21/25 vs. the week ending 3/28/25

 

 

 

 

 

 

 

 

 

 

 

 

 

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 MTRC 1.625 8/19/2030 1.63% 08/19/30 140 228 88 63%
2 ALK 4.8 8/15/2027 REGS 4.80% 02/15/29 23 100 77 335%
3 HKMTGC 4.125 10/18/2027 4.13% 10/18/27 120 195 75 63%
4 VW 5.6 3/22/2034 144A 5.60% 03/22/34 104 178 74 71%
5 BMW 4.65 3/10/2027 4.65% 03/10/27 106 177 71 67%
6 OB 10 2/15/2030 144A 10.00% 02/15/30 72 135 63 88%
7 HKAA 3.25 1/12/2052 REGS 3.25% 01/12/52 160 220 60 38%
8 PRU 5.2 3/14/2035 5.20% 03/14/35 222 274 52 23%
9 NEM 6.25 10/1/2039 6.25% 10/01/39 176 228 52 30%
10 HKAA 4.75 7/15/2028 REGS 4.75% 07/15/28 259 310 51 20%

Most Quoted IG Corps

Ranks the IG Corps that were quoted by the highest number of dealers between 3/21/25 – 3/28/25

 

 

 

 

 

 

 

 

 

 

 

 

 

RANK TRANCHE COUPON MATURITY DEALERS
1 MARS 5.2 3/1/2035 144A 5.20% 03/01/35 41
2 DUK 5.05 3/15/2035 5.05% 03/15/35 39
3 D 5.15 3/15/2035 5.15% 03/15/35 39
4 MARS 5.7 5/1/2055 144A 5.70% 05/01/55 39
5 MARS 5.65 5/1/2045 144A 5.65% 05/01/45 39
6 NEE 5.3 6/15/2034 5.30% 06/15/34 38
7 D 5.65 3/15/2055 5.65% 03/15/55 38
8 MARS 4.8 3/1/2030 144A 4.80% 03/01/30 38
9 NEE 5.45 3/15/2035 5.45% 03/15/35 38
10 MARS 5.8 5/1/2065 144A 5.80% 05/01/65 38

Bid-Offer Spread by Industry

Displays the IG Corp average bid-offer spread by industry between 3/21/25 – 3/28/25

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 3/21/25 – 3/28/25

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