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High Yield Corporate Bond Market Summary:
Week Ending 4/11/25
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 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 4/4/25 – 4/11/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | EMBARQ 7.995 6/1/2036 | 8.00% | 06/01/36 | 14.20% | 42.80 | 37.48 | 16 |
| 2 | PRIMIN 9 2/15/2030 144A | 9.00% | 02/15/30 | 7.64% | 74.00 | 68.75 | 21 |
| 3 | BHCCN 5 1/30/2028 144A | 5.00% | 01/30/28 | 5.63% | 75.11 | 71.10 | 22 |
| 4 | AKUCN 8 8/1/2028 144A | 8.00% | 08/01/28 | 5.09% | 86.98 | 82.77 | 15 |
| 5 | CNR 9.5 8/15/2029 144A | 9.50% | 08/15/29 | 5.05% | 85.56 | 81.45 | 26 |
| 6 | ARGENT 0.75 7/9/2030 | 0.75% | 07/09/30 | 3.36% | 72.98 | 70.61 | 23 |
| 7 | VMED 4.125 8/15/2030 REGS | 4.13% | 08/15/30 | 2.98% | 85.95 | 83.46 | 12 |
| 8 | SHODFP 6.5 8/1/2026 REGS | 6.50% | 08/01/26 | 2.84% | 98.98 | 96.25 | 16 |
| 9 | SFRFP 5.5 1/15/2028 REGS | 5.50% | 01/15/28 | 2.27% | 79.24 | 77.49 | 13 |
| 10 | CYH 4.75 2/15/2031 144A | 4.75% | 02/15/31 | 2.00% | 80.51 | 78.93 | 25 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 4/4/25 – 4/11/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | WTI 10.75 2/1/2029 144A | 10.75% | 02/01/29 | -20.02% | 74.63 | 93.31 | 22 |
| 2 | AMARAZ 10.25 7/15/2028 144A | 10.25% | 07/15/28 | -19.10% | 62.54 | 77.30 | 9 |
| 3 | NBR 8.875 8/15/2031 | 8.88% | 08/15/31 | -17.04% | 68.90 | 83.05 | 22 |
| 4 | MIK 7.875 5/1/2029 144A | 7.88% | 05/01/29 | -15.90% | 36.31 | 43.18 | 28 |
| 5 | LOGM 5.5 5/1/2028 144A | 5.50% | 05/01/28 | -15.68% | 33.85 | 40.14 | 11 |
| 6 | TLWLN 10.25 5/15/2026 REGS | 10.25% | 05/15/26 | -15.60% | 76.19 | 90.27 | 28 |
| 7 | BRNKGR 2.25 9/22/2026 | 2.25% | 09/22/26 | -14.41% | 50.74 | 59.28 | 16 |
| 8 | RIG 7.5 4/15/2031 | 7.50% | 04/15/31 | -14.37% | 72.01 | 84.09 | 20 |
| 9 | GTE 9.5 10/15/2029 144A | 9.50% | 10/15/29 | -13.61% | 75.76 | 87.70 | 23 |
| 10 | RAKUTN 6.25 PERP 144A | 6.25% | NULL | -12.47% | 77.71 | 88.78 | 13 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 4/4/25 – 4/11/25
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 4/4/25 – 4/11/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 4/4/25 vs. the week ending 4/11/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | GASBCM 6.129 2/23/2038 REGS | 6.13% | 02/23/38 | 28 | 182 | 154 | 550% |
| 2 | CCL 6.65 1/15/2028 | 6.65% | 01/15/28 | 99 | 166 | 67 | 68% |
| 3 | ZFFNGR 6.875 4/23/2032 REGS | 6.88% | 04/23/32 | 142 | 207 | 65 | 46% |
| 4 | ZFFNGR 6.875 4/23/2032 144A | 6.88% | 04/23/32 | 151 | 207 | 56 | 37% |
| 5 | FMCN 8.625 6/1/2031 REGS | 8.63% | 06/01/31 | 228 | 281 | 53 | 23% |
| 6 | HLEND 5.95 4/14/2032 | 5.95% | 04/14/32 | 77 | 130 | 53 | 69% |
| 7 | ARDFIN 6.5 6/30/2027 REGS | 6.50% | 06/30/27 | 19 | 71 | 52 | 274% |
| 8 | HLEND 5.45 1/14/2028 | 5.45% | 01/14/28 | 16 | 68 | 52 | 325% |
| 9 | ALIANT 6.75 4/15/2028 144A | 6.75% | 04/15/28 | 188 | 235 | 47 | 25% |
| 10 | HWM 5.95 2/1/2037 | 5.95% | 02/01/37 | 144 | 189 | 45 | 31% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 4/4/25 – 4/11/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | F 6.5 2/7/2035 | 6.50% | 02/07/35 | 36 |
| 2 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 35 |
| 3 | TMUS 5.15 4/15/2034 | 5.15% | 04/15/34 | 35 |
| 4 | SANTAN 8 PERP | 7.89% | NULL | 35 |
| 5 | BACR 6.125 PERP | 6.13% | NULL | 35 |
| 6 | F 5.875 11/7/2029 | 5.88% | 11/07/29 | 34 |
| 7 | INTNED 5.75 PERP | 5.75% | NULL | 34 |
| 8 | NWG 8 PERP | 8.00% | NULL | 34 |
| 9 | F 6.532 3/19/2032 | 6.53% | 03/19/32 | 34 |
| 10 | OLN 5.125 9/15/2027 | 5.13% | 09/15/27 | 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 4/4/25 – 4/11/25
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