Corporates

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High Yield Corporate Bond Market Summary:
Week Ending 5/2/25

Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.

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Forward Calendar

The following are lists of upcoming high-yield corporate bond offerings in the United States

 

 

 

 

Issuer Deal Information Banks Expected Issue Date
VOYAGER PARENT LLC $1.75 billion senior secured notes due 2032 (B1/B) DB Q2 2025
SHIFT4 PAYMENTS INC €680 million eight-year senior notes (BB-/BB) GS Q2 2025
BRIGHTSPEED $1.865 billion senior secured notes Q2 2025
AMPLIFY ENERGY CORP. Expected $150 million five-year senior notes ASAS Q2 2025
CHUCK E. CHEESE $660 million five-year senior secured notes (B3/B-) JPM Q2 2025
HANESBRANDS INC. $500 million unsecured notes JPM Q2 2025

Top 10 Performers

Showcases the top 10 HY Corp performers based on the largest bid price increases between 4/25/25 – 5/2/25

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 XRX 8.875 11/30/2029 144A 8.88% 11/30/29 13.20% 62.80 55.48 24
2 BALY 5.625 9/1/2029 144A 5.63% 09/01/29 10.95% 59.91 54.00 22
3 NPCUKR 6.875 11/9/2028 REGS 6.88% 11/09/28 9.68% 81.20 74.03 16
4 NFE 8.75 3/15/2029 144A 8.75% 03/15/29 9.46% 51.68 47.22 24
5 AZUBBZ 11.93 8/28/2028 144A 11.93% 08/28/28 9.36% 60.15 55.00 6
6 MLTPLN 5.75 12/31/2030 144A 5.75% 12/31/30 6.71% 78.96 73.99 13
7 FRICON 7.7 7/21/2028 REGS 7.70% 07/21/28 6.45% 77.23 72.55 17
8 LUMN 7.65 3/15/2042 7.65% 03/15/42 6.26% 74.72 70.31 17
9 HOUS 5.25 4/15/2030 144A 5.25% 04/15/30 6.16% 76.02 71.61 18
10 CLF 6.25 10/1/2040 6.25% 10/01/40 5.70% 80.32 75.98 20

Bottom 10 Performers

Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 4/25/25 – 5/2/25

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 FRAX 7.1 9/30/2029 144A 7.10% 09/30/29 -17.95% 36.15 44.06 15
2 GTE 9.5 10/15/2029 144A 9.50% 10/15/29 -13.61% 70.00 81.03 21
3 NOVA 5.875 9/1/2026 144A 5.88% 09/01/26 -13.55% 29.70 34.36 19
4 CUMINT 8 7/1/2029 144A 8.00% 07/01/29 -12.22% 29.66 33.79 11
5 LOGM 5.5 5/1/2028 144A 5.50% 05/01/28 -11.66% 31.95 36.17 11
6 HTZ 5 12/1/2029 144A 5.00% 12/01/29 -11.35% 62.85 70.90 28
7 CERBA 5 5/31/2029 REGS 5.00% 05/31/29 -10.80% 32.01 35.88 23
8 MIK 7.875 5/1/2029 144A 7.88% 05/01/29 -9.09% 35.34 38.88 26
9 MCGLN 4.25 PERP 4.25% NULL -9.07% 86.41 95.03 17
10 VTLE 9.75 10/15/2030 9.75% 10/15/30 -7.83% 84.68 91.87 26

Avg Industry Price

Displays the HY Corp average industry price by sector between 4/25/25 – 5/2/25

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 4/25/25 – 5/2/25

Top Quote Volume Movers: This Week vs Last Week

Exhibits the HY Corps with the largest increase in quote volume for the week ending 4/25/25 vs. the week ending 5/2/25

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 INEGRP 7.5 4/15/2029 REGS 7.50% 04/15/29 10 154 144 1440%
2 AZUBBZ 11.93 8/28/2028 11.93% 08/28/28 24 135 111 463%
3 STYRO 9.625 3/15/2029 144A 9.63% 03/15/29 71 162 91 128%
4 INEGRP 6.75 5/15/2028 144A 6.75% 05/15/28 103 189 86 83%
5 ARESSI 5.6 2/15/2030 144A 5.60% 02/15/30 114 196 82 72%
6 ADNOCM 4.5 9/11/2034 REGS 4.50% 09/11/34 98 155 57 58%
7 STYRO 9.625 3/15/2029 REGS 9.63% 03/15/29 147 200 53 36%
8 BBDBCN 7.45 5/1/2034 144A 7.45% 05/01/34 172 220 48 28%
9 ADNOCM 5.125 9/11/2054 REGS 5.13% 09/11/54 102 150 48 47%
10 QBRCN 3.625 6/15/2029 144A 3.63% 06/15/29 114 159 45 39%

Most Quoted HY Corps

Ranks the HY Corps that were quoted by the highest number of dealers between 4/25/25 – 5/2/25

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RANK TRANCHE COUPON MATURITY DEALERS
1 TMUS 5.15 4/15/2034 5.15% 04/15/34 34
2 F 6.5 2/7/2035 6.50% 02/07/35 34
3 SANTAN 8 PERP 7.89% NULL 32
4 BNP 7.375 PERP 7.38% 12/11/99 32
5 INTNED 5.75 PERP 5.75% NULL 32
6 SANTAN 9.625 PERP 9.63% 11/21/99 32
7 TMUS 5.05 7/15/2033 5.05% 07/15/33 32
8 CYH 8 12/15/2027 144A 8.00% 12/15/27 32
9 MXCN 5.25 12/15/2029 5.25% 12/15/29 32
10 TMUS 5.3 5/15/2035 5.30% 05/15/35 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 4/25/25 – 5/2/25

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