High Yield Corporate Bond Market Summary – Week Ending 4/19/24
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High Yield Corporate Bond Market Summary: Week Ending 4/19/24
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 |
|---|---|---|---|
| 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 4/12/24 – 4/19/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | ALNMED 10.5 2/15/2028 | 10.50% | 02/15/28 | 29.50% | 50.25 | 38.80 | 17 |
| 2 | CNECN 5.75 11/24/2028 144A | 5.75% | 11/24/28 | 19.16% | 48.35 | 40.58 | 21 |
| 3 | VOLCAN 4.375 2/11/2026 REGS | 4.38% | 02/11/26 | 15.65% | 68.23 | 59.00 | 15 |
| 4 | INTULN 5.562 12/31/2027 | 5.56% | 12/31/27 | 6.14% | 37.67 | 35.49 | 7 |
| 5 | STON 8.5 5/15/2029 144A | 8.50% | 05/15/29 | 5.39% | 79.15 | 75.10 | 11 |
| 6 | SSP 5.375 1/15/2031 144A | 5.38% | 01/15/31 | 5.07% | 55.68 | 53.00 | 20 |
| 7 | ARGBON 0.75 7/9/2030 | 0.75% | 07/09/30 | 5.05% | 55.34 | 52.68 | 13 |
| 8 | ARGENT 2.5 7/9/2035 | 2.50% | 07/09/35 | 4.93% | 40.67 | 38.76 | 12 |
| 9 | ECUA 0 7/31/2030 REGS | 0.00% | 07/31/30 | 4.41% | 51.25 | 49.09 | 25 |
| 10 | NEWCAS 10.75 PERP | 10.75% | NULL | 4.20% | 145.80 | 139.92 | 3 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 4/12/24 – 4/19/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | EMBARQ 7.995 6/1/2036 | 8.00% | 06/01/36 | -28.46% | 37.51 | 52.43 | 12 |
| 2 | ROADKG 6.7 9/30/2024 | 6.70% | 09/30/24 | -22.91% | 50.75 | 65.84 | 23 |
| 3 | ATOFP 1.125 4/17/2026 | 1.13% | 04/17/26 | -18.31% | 25.16 | 30.80 | 7 |
| 4 | ARGID 5.25 8/15/2027 REGS | 5.25% | 08/15/27 | -17.21% | 50.14 | 60.56 | 24 |
| 5 | NWDEVL 4.8 PERP | 4.80% | NULL | -15.77% | 36.33 | 43.13 | 18 |
| 6 | NOVA 5.875 9/1/2026 144A | 5.88% | 09/01/26 | -9.39% | 64.60 | 71.30 | 18 |
| 7 | ARDFIN 6.5 6/30/2027 144A | 6.50% | 06/30/27 | -9.19% | 26.78 | 29.50 | 7 |
| 8 | BHCCN 5.25 1/30/2030 144A | 5.25% | 01/30/30 | -9.07% | 41.79 | 45.96 | 19 |
| 9 | UKRAIN 7.75 9/1/2026 REGS | 7.75% | 09/01/26 | -8.38% | 32.63 | 35.62 | 18 |
| 10 | FUTLAN 4.45 7/13/2025 | 4.45% | 07/13/25 | -8.34% | 43.81 | 47.79 | 15 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 4/12/24 – 4/19/24 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 4/12/24 – 4/19/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 4/12/24 vs. the week ending 4/19/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | PFSI 7.875 12/15/2029 REGS | 7.88% | 12/15/29 | 20 | 136 | 116 | 580% |
| 2 | JANEST 4.5 11/15/2029 144A | 4.50% | 11/15/29 | 35 | 124 | 89 | 254% |
| 3 | CSLAU 5.106 4/3/2034 144A | 5.11% | 04/03/34 | 119 | 185 | 66 | 55% |
| 4 | POSADA 7 12/30/2027 144A | 7.00% | 12/30/27 | 4 | 62 | 58 | 1450% |
| 5 | MDLNIJ 5 6/30/2025 | 5.00% | 06/30/25 | 39 | 90 | 51 | 131% |
| 6 | CSLAU 5.417 4/3/2054 144A | 5.42% | 04/03/54 | 125 | 173 | 48 | 38% |
| 7 | WOMCHI 4.7 1/22/2028 REGS | 4.70% | 01/22/28 | 148 | 195 | 47 | 32% |
| 8 | GS 7.5 PERP | 7.50% | 08/10/99 | 209 | 247 | 38 | 18% |
| 9 | RIG 7.25 11/1/2025 144A | 7.25% | 11/01/25 | 209 | 242 | 33 | 16% |
| 10 | UKRAIN 7.75 9/1/2025 REGS | 7.75% | 09/01/25 | 146 | 178 | 32 | 22% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 4/12/24 – 4/19/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | MGM 6.75 5/1/2025 | 6.75% | 05/01/25 | 35 |
| 2 | BACR 8 PERP | 8.00% | 12/15/99 | 35 |
| 3 | F 3.25 2/12/2032 | 3.25% | 02/12/32 | 35 |
| 4 | MTDR 5.875 9/15/2026 | 5.88% | 09/15/26 | 35 |
| 5 | INTNED 6.5 PERP | 6.50% | NULL | 34 |
| 6 | CZR 6.25 7/1/2025 144A | 6.25% | 07/01/25 | 34 |
| 7 | BACR 4.375 PERP | 4.38% | NULL | 34 |
| 8 | BACR 6.125 PERP | 6.13% | NULL | 33 |
| 9 | INTNED 3.875 PERP | 3.88% | NULL | 33 |
| 10 | BACR 9.625 PERP | 9.63% | 12/15/99 | 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 4/12/24 – 4/19/24
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