High Yield Corporate Bond Market Summary – Week Ending 2/9/24
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High Yield Corporate Bond Market Summary: Week Ending 2/9/24
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 | ISSUE INFORMATION | BROKER DEALER | EXPECTED ISSUE DATE |
|---|---|---|---|
| Champions Financing Inc. | $650 million five-year senior secured notes (B3) | BofA | Week of February 5 |
| Brightspeed | $1.865 billion senior secured notes | 1st Quarter 2024 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 2/2/24 – 2/9/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | LOGM 5.5 9/1/2027 144A | 5.50% | 09/01/27 | 29.43% | 53.07 | 41.00 | 18 |
| 2 | NPCUKR 6.875 11/9/2028 REGS | 6.88% | 11/09/28 | 28.43% | 36.42 | 28.36 | 15 |
| 3 | LUMN 4.5 1/15/2029 144A | 4.50% | 01/15/29 | 18.98% | 27.87 | 23.43 | 16 |
| 4 | GLT 4.75 11/15/2029 144A | 4.75% | 11/15/29 | 15.71% | 83.80 | 72.42 | 17 |
| 5 | ECUA 0 7/31/2030 REGS | 0.00% | 07/31/30 | 13.12% | 37.80 | 33.41 | 24 |
| 6 | WW 4.5 4/15/2029 144A | 4.50% | 04/15/29 | 10.92% | 52.36 | 47.21 | 23 |
| 7 | CTLT 3.5 4/1/2030 144A | 3.50% | 04/01/30 | 10.68% | 97.19 | 87.81 | 25 |
| 8 | RDHGCL 7.8 3/20/2024 | 7.80% | 03/20/24 | 10.48% | 58.80 | 53.22 | 14 |
| 9 | INCMBZ 5.75 7/17/2024 REGS | 5.75% | 07/17/24 | 10.09% | 79.13 | 71.88 | 15 |
| 10 | ABRAGF 11.5 3/2/2028 144A | 11.50% | 03/02/28 | 6.64% | 82.75 | 77.60 | 19 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 2/2/24 – 2/9/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | PBBGR 8.474 PERP | 8.47% | NULL | -39.60% | 32.87 | 54.43 | 20 |
| 2 | ATOFP 1.75 5/7/2025 | 1.75% | 05/07/25 | -21.78% | 31.42 | 40.17 | 21 |
| 3 | UNIGEL 8.75 10/1/2026 REGS | 8.75% | 10/01/26 | -16.11% | 26.87 | 32.03 | 17 |
| 4 | AARB 7.625 PERP | 7.63% | NULL | -12.98% | 74.25 | 85.32 | 13 |
| 5 | INTRUM 3.5 7/15/2026 REGS | 3.50% | 07/15/26 | -12.25% | 63.91 | 72.83 | 22 |
| 6 | NYCB 0 11/6/2028 | 0.00% | 11/06/28 | -11.73% | 76.88 | 87.09 | 4 |
| 7 | SSP 5.375 1/15/2031 144A | 5.38% | 01/15/31 | -9.26% | 68.48 | 75.47 | 24 |
| 8 | CSCHLD 4.625 12/1/2030 144A | 4.63% | 12/01/30 | -8.64% | 46.59 | 51.00 | 24 |
| 9 | GTN 5.375 11/15/2031 144A | 5.38% | 11/15/31 | -8.58% | 70.43 | 77.04 | 26 |
| 10 | RADIAT 6.5 9/15/2028 144A | 6.50% | 09/15/28 | -7.69% | 40.00 | 43.33 | 20 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 2/2/24 – 2/9/24 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 2/2/24 – 2/9/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 2/2/24 vs. the week ending 2/9/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | HUHTAM 5.125 11/24/2028 | 5.13% | 11/24/28 | 45 | 107 | 62 | 138% |
| 2 | ENEDEV 5.875 9/21/2033 144A | 5.88% | 09/21/33 | 10 | 72 | 62 | 620% |
| 3 | HUSKYI 7.75 4/15/2026 144A | 7.75% | 04/15/26 | 207 | 258 | 51 | 25% |
| 4 | DSLDHM 7.5 2/15/2026 144A | 7.50% | 02/15/26 | 131 | 177 | 46 | 35% |
| 5 | CURO 7.5 8/1/2028 | 7.50% | 08/01/28 | 62 | 106 | 44 | 71% |
| 6 | POST 5.75 3/1/2027 | 5.75% | 03/01/27 | 244 | 283 | 39 | 16% |
| 7 | SHLD 8 12/15/2019 | 8.00% | 12/15/19 | 2 | 39 | 37 | 1850% |
| 8 | KAISAG 10.875 PERP | 10.88% | NULL | 118 | 150 | 32 | 27% |
| 9 | KAISAG 11.25 4/16/2025 | 11.25% | 04/16/25 | 154 | 184 | 30 | 19% |
| 10 | KAISAG 10.5 1/15/2025 | 10.50% | 01/15/25 | 154 | 184 | 30 | 19% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 2/2/24 – 2/9/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | CCL 9.875 8/1/2027 144A | 9.88% | 08/01/27 | 38 |
| 2 | TALO 12 1/15/2026 | 12.00% | 01/15/26 | 36 |
| 3 | CZR 6.25 7/1/2025 144A | 6.25% | 07/01/25 | 34 |
| 4 | ACRISU 7 11/15/2025 144A | 7.00% | 11/15/25 | 34 |
| 5 | CSCHLD 5.25 6/1/2024 | 5.25% | 06/01/24 | 34 |
| 6 | UBS 7 PERP | 7.00% | NULL | 33 |
| 7 | RAKUTN 11.25 2/15/2027 144A | 11.25% | 02/15/27 | 33 |
| 8 | POST 5.75 3/1/2027 | 5.75% | 03/01/27 | 33 |
| 9 | TEP 7.5 10/1/2025 144A | 7.50% | 10/01/25 | 33 |
| 10 | CVI 5.25 2/15/2025 | 5.25% | 02/15/25 | 33 |
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 2/2/24 – 2/9/24
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