High Yield Corporate Bond Market Summary – Week Ending 4/4/25
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High Yield Corporate Bond Market Summary: Week Ending 4/4/25
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 3/28/25 – 4/4/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | HSEFIN FLT 10/15/2026 REGS | 8.31% | 10/15/26 | 10.06% | 54.47 | 49.50 | 12 |
| 2 | PIZEXP 6.75 7/15/2026 REGS | 6.75% | 07/15/26 | 7.03% | 89.21 | 83.35 | 17 |
| 3 | COOP 5.125 12/15/2030 144A | 5.13% | 12/15/30 | 6.83% | 99.73 | 93.36 | 24 |
| 4 | CSLAU 4.95 4/27/2062 REGS | 4.95% | 04/27/62 | 3.23% | 88.09 | 85.33 | 6 |
| 5 | FABSJV 6.3 1/25/2039 | 6.30% | 01/25/39 | 3.19% | 106.03 | 102.76 | 29 |
| 6 | ELV 4.65 8/15/2044 | 4.65% | 08/15/44 | 3.16% | 88.81 | 86.09 | 18 |
| 7 | TMUS 5.8 9/15/2062 | 5.80% | 09/15/62 | 2.99% | 99.47 | 96.58 | 27 |
| 8 | EXC 4.375 8/15/2052 | 4.38% | 08/15/52 | 2.93% | 83.33 | 80.95 | 25 |
| 9 | NFLX 5.4 8/15/2054 | 5.40% | 08/15/54 | 2.86% | 99.54 | 96.77 | 25 |
| 10 | PPL 5.25 5/15/2053 | 5.25% | 05/15/53 | 2.75% | 96.92 | 94.32 | 11 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 3/28/25 – 4/4/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | ACPROD 6.375 5/15/2029 144A | 6.38% | 05/15/29 | -33.03% | 39.60 | 59.13 | 16 |
| 2 | FRAX 7.5 9/30/2029 144A | 7.50% | 09/30/29 | -24.26% | 40.47 | 53.44 | 9 |
| 3 | MIK 7.875 5/1/2029 144A | 7.88% | 05/01/29 | -22.69% | 43.18 | 55.85 | 29 |
| 4 | PRIMIN 9 2/15/2030 144A | 9.00% | 02/15/30 | -19.34% | 68.75 | 85.23 | 21 |
| 5 | NFE 12 11/15/2029 144A | 12.00% | 11/15/29 | -17.23% | 75.76 | 91.54 | 27 |
| 6 | UKRAIN 0 2/1/2035 REGS | 0.00% | 02/01/35 | -15.96% | 49.06 | 58.37 | 23 |
| 7 | XRX 5.5 8/15/2028 144A | 5.50% | 08/15/28 | -13.65% | 65.72 | 76.10 | 28 |
| 8 | ATLNSA 10.375 1/30/2030 144A | 10.38% | 01/30/30 | -13.43% | 64.25 | 74.22 | 12 |
| 9 | IMGRP 8 3/1/2028 | 8.00% | 03/01/28 | -13.24% | 43.10 | 49.68 | 15 |
| 10 | SPLS 12.75 1/15/2030 144A | 12.75% | 01/15/30 | -12.79% | 59.50 | 68.22 | 22 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 3/28/25 – 4/4/25 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 3/28/25 – 4/4/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 3/28/25 vs. the week ending 4/4/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | SAVE 11 3/6/2030 | 11.00% | 03/12/30 | 4 | 120 | 116 | 2900% |
| 2 | ZFFNGR 6.875 4/23/2032 REGS | 6.88% | 04/23/32 | 35 | 142 | 107 | 306% |
| 3 | ZBRA 6.5 6/1/2032 144A | 6.50% | 06/01/32 | 50 | 138 | 88 | 176% |
| 4 | IHOVER 7.75 11/15/2030 REGS | 7.75% | 11/15/30 | 41 | 128 | 87 | 212% |
| 5 | RDEDOR 4.95 1/17/2028 REGS | 4.95% | 01/17/28 | 60 | 146 | 86 | 143% |
| 6 | ZFFNGR 6.875 4/23/2032 144A | 6.88% | 04/23/32 | 71 | 151 | 80 | 113% |
| 7 | UKRAIN FLT 8/1/2041 144A | 0.00% | 05/31/41 | 10 | 76 | 66 | 660% |
| 8 | SPRIND 6.5 10/6/2029 144A | 6.50% | 10/01/29 | 20 | 79 | 59 | 295% |
| 9 | GRNLGR 6.875 7/3/2030 | 5.88% | 07/03/30 | 65 | 124 | 59 | 91% |
| 10 | ADRBID 10 2/15/2029 REGS | 10.00% | 02/15/29 | 125 | 183 | 58 | 46% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 3/28/25 – 4/4/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 36 |
| 2 | TMUS 5.15 4/15/2034 | 5.15% | 04/15/34 | 36 |
| 3 | SANTAN 8 PERP | 7.89% | NULL | 36 |
| 4 | BACR 6.125 PERP | 6.13% | NULL | 35 |
| 5 | INTNED 7.25 PERP | 7.25% | NULL | 35 |
| 6 | F 5.875 11/7/2029 | 5.88% | 11/07/29 | 34 |
| 7 | NWG 8 PERP | 8.00% | NULL | 34 |
| 8 | BACR 9.625 PERP | 9.63% | 12/15/99 | 34 |
| 9 | F 6.532 3/19/2032 | 6.53% | 03/19/32 | 34 |
| 10 | INTNED 5.75 PERP | 5.75% | 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 3/28/25 – 4/4/25
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