High Yield Corporate Bond Market Summary – Week Ending 4/25/25
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High Yield Corporate Bond Market Summary: Week Ending 4/25/25
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 |
|---|---|---|---|
| Excelerate Energy LP | $700MM | BCLY | Q2 2025 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 4/17/25 – 4/25/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | CYH 6.875 4/1/2028 144A | 6.88% | 04/01/28 | 15.10% | 74.94 | 65.11 | 19 |
| 2 | IHRT 10.875 5/1/2030 144A | 10.88% | 05/01/30 | 9.14% | 43.50 | 39.86 | 21 |
| 3 | ARKO 5.125 11/15/2029 144A | 5.13% | 11/15/29 | 8.62% | 82.62 | 76.06 | 20 |
| 4 | MLTPLN 6 3/31/2031 144A | 6.75% | 03/31/31 | 8.01% | 63.08 | 58.40 | 14 |
| 5 | GLOBAU 8.375 1/15/2029 | 8.38% | 01/15/29 | 7.74% | 85.72 | 79.56 | 26 |
| 6 | SBBBSS 2.624 PERP | 2.62% | NULL | 7.46% | 62.30 | 57.97 | 17 |
| 7 | NFE 6.5 9/30/2026 144A | 6.50% | 09/30/26 | 6.79% | 79.71 | 74.65 | 25 |
| 8 | EBS 3.875 8/15/2028 144A | 3.88% | 08/15/28 | 6.76% | 63.26 | 59.25 | 18 |
| 9 | XRX 13.5 4/15/2031 144A | 13.50% | 04/15/31 | 6.46% | 94.75 | 89.00 | 23 |
| 10 | SFRFP 6 2/15/2028 REGS | 6.00% | 02/15/28 | 6.41% | 30.63 | 28.78 | 15 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 4/17/25 – 4/25/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | AZUBBZ 11.93 8/28/2028 REGS | 11.93% | 08/28/28 | -18.69% | 56.79 | 69.84 | 13 |
| 2 | VESTL 9.75 5/15/2029 REGS | 9.75% | 05/15/29 | -10.27% | 81.08 | 90.36 | 4 |
| 3 | SAGLEN 11 12/15/2029 144A | 11.00% | 12/15/29 | -9.08% | 65.68 | 72.24 | 28 |
| 4 | CRNAU 9.25 10/1/2029 REGS | 9.25% | 10/01/29 | -7.03% | 71.40 | 76.80 | 18 |
| 5 | PSLOGI 7.875 10/15/2029 144A | 7.88% | 10/15/29 | -3.78% | 83.50 | 86.78 | 13 |
| 6 | PAKWNP 7.5 6/4/2031 | 7.50% | 06/04/31 | -2.78% | 73.10 | 75.19 | 15 |
| 7 | PKSTAN 7.875 3/31/2036 REGS | 7.88% | 03/31/36 | -2.56% | 75.30 | 77.28 | 19 |
| 8 | JBPOIN 8.75 12/15/2031 144A | 8.75% | 12/15/31 | -2.54% | 99.18 | 101.77 | 17 |
| 9 | BPL 5.85 11/15/2043 | 5.85% | 11/15/43 | -2.32% | 84.17 | 86.17 | 19 |
| 10 | STYRO 9.625 3/15/2029 REGS | 9.63% | 03/15/29 | -2.29% | 96.75 | 99.01 | 15 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 4/17/25 – 4/25/25 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 4/17/25 – 4/25/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 4/17/25 vs. the week ending 4/25/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | ITAU 6 1/7/2030 | 6.00% | 01/07/30 | 46 | 147 | 101 | 220% |
| 2 | CONCOA 13.125 5/1/2028 144A | 13.13% | 05/01/28 | 2 | 88 | 86 | 4300% |
| 3 | QUIKHO 6.75 3/1/2033 144A | 6.75% | 03/01/33 | 177 | 251 | 74 | 42% |
| 4 | MODV 5 10/1/2029 144A | 5.00% | 10/01/29 | 20 | 94 | 74 | 370% |
| 5 | TMUS 6 6/15/2054 | 6.00% | 06/15/54 | 239 | 300 | 61 | 26% |
| 6 | SIXSLP 6.125 7/15/2030 144A | 6.13% | 07/15/30 | 125 | 182 | 57 | 46% |
| 7 | SABHLD 8.625 6/1/2027 144A | 8.63% | 06/01/27 | 178 | 230 | 52 | 29% |
| 8 | ADNOCM 5.125 9/11/2054 REGS | 5.13% | 09/11/54 | 50 | 102 | 52 | 104% |
| 9 | ADNOCM 4.5 9/11/2034 REGS | 4.50% | 09/11/34 | 49 | 98 | 49 | 100% |
| 10 | RIG 4.625 9/30/2029 144A | 4.63% | 09/30/29 | 40 | 88 | 48 | 120% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 4/17/25 – 4/25/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | DELL 5.3 4/1/2032 | 5.30% | 04/01/32 | 34 |
| 2 | F 6.5 2/7/2035 | 6.50% | 02/07/35 | 34 |
| 3 | TMUS 5.875 11/15/2055 | 5.88% | 11/15/55 | 34 |
| 4 | SANTAN 8 PERP | 7.89% | NULL | 33 |
| 5 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 33 |
| 6 | BACR 6.125 PERP | 6.13% | NULL | 33 |
| 7 | TMUS 5.3 5/15/2035 | 5.30% | 05/15/35 | 33 |
| 8 | TMUS 5.15 4/15/2034 | 5.15% | 04/15/34 | 33 |
| 9 | INTNED 5.75 PERP | 5.75% | NULL | 32 |
| 10 | NWG 8 PERP | 8.00% | NULL | 32 |
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 4/17/25 – 4/25/25
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