High Yield Corporate Bond Market Summary – Week Ending 5/24/24
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High Yield Corporate Bond Market Summary: Week Ending 5/24/24
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 5/17/24 – 5/24/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | HAVINO FLT 1/2/2025 | 9.23% | 01/02/25 | 35.26% | 64.92 | 48.00 | 3 |
| 2 | TSE 5.125 4/1/2029 REGS | 5.13% | 04/01/29 | 16.91% | 39.52 | 33.81 | 18 |
| 3 | FTLNHD 4.5 5/2/2026 | 4.50% | 05/02/26 | 16.04% | 62.58 | 53.93 | 18 |
| 4 | ROADKG 5.125 7/26/2026 | 5.13% | 07/26/26 | 14.75% | 26.25 | 22.88 | 22 |
| 5 | BHCCN 6.25 2/15/2029 144A | 6.25% | 02/15/29 | 14.10% | 54.20 | 47.50 | 19 |
| 6 | CRNRCH 10.25 9/1/2027 144A | 10.25% | 09/01/27 | 13.68% | 56.84 | 50.00 | 8 |
| 7 | CLARFP 4.125 PERP | 4.13% | NULL | 12.46% | 83.53 | 74.28 | 12 |
| 8 | ZAYO 6.125 3/1/2028 | 6.13% | 03/01/28 | 12.37% | 67.08 | 59.70 | 26 |
| 9 | APLNIJ 5.95 6/2/2024 | 5.95% | 06/02/24 | 9.74% | 94.40 | 86.02 | 18 |
| 10 | COMM 7.125 7/1/2028 144A | 7.13% | 07/01/28 | 8.30% | 40.17 | 37.09 | 24 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 5/17/24 – 5/24/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | FRIGOD 11 4/20/2028 REGS | 11.00% | 04/20/28 | -14.69% | 37.63 | 44.11 | 4 |
| 2 | LOGM 5.5 5/1/2028 144A | 5.50% | 05/01/28 | -12.51% | 51.50 | 58.87 | 9 |
| 3 | LINTA 8.5 7/15/2029 | 8.50% | 07/15/29 | -10.74% | 48.92 | 54.80 | 19 |
| 4 | BLT 7.875 10/15/2029 144A | 7.88% | 10/15/29 | -10.04% | 53.03 | 58.94 | 11 |
| 5 | RAD 8 11/15/2026 144A | 8.00% | 11/15/26 | -9.70% | 51.88 | 57.45 | 14 |
| 6 | FRICON 7.7 7/21/2028 REGS | 7.70% | 07/21/28 | -9.40% | 63.75 | 70.37 | 14 |
| 7 | ARGENT 3.625 7/9/2035 | 3.63% | 07/09/35 | -8.68% | 41.69 | 45.65 | 27 |
| 8 | QVCN 5.45 8/15/2034 | 5.45% | 08/15/34 | -8.17% | 60.14 | 65.49 | 23 |
| 9 | UNIGEL 8.75 10/1/2026 REGS | 8.75% | 10/01/26 | -8.05% | 28.83 | 31.36 | 17 |
| 10 | LNDPT 6.125 4/1/2028 144A | 6.13% | 04/01/28 | -7.38% | 71.72 | 77.44 | 19 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 5/17/24 – 5/24/24 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 5/17/24 – 5/24/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 5/17/24 vs. the week ending 5/24/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | ORSTED 1.5 2/18/3021 | 4.25% | 02/18/21 | 88 | 238 | 150 | 170% |
| 2 | ORSTED 2.5 2/18/3021 | 2.50% | 02/18/21 | 56 | 158 | 102 | 182% |
| 3 | NWG 8 PERP | 8.00% | NULL | 268 | 330 | 62 | 23% |
| 4 | SANTAN 6.35 3/14/2034 | 6.35% | 03/14/34 | 159 | 214 | 55 | 35% |
| 5 | CAR 7.25 7/31/2030 REGS | 7.25% | 07/31/30 | 154 | 208 | 54 | 35% |
| 6 | ALTGX 5.625 4/15/2026 | 5.63% | 04/15/26 | 130 | 177 | 47 | 36% |
| 7 | RAX 3.5 5/15/2028 144A | 3.50% | 05/15/28 | 48 | 92 | 44 | 92% |
| 8 | ELV 2.875 9/15/2029 | 2.88% | 09/15/29 | 184 | 224 | 40 | 22% |
| 9 | SPB 5.5 7/15/2030 144A | 5.50% | 07/15/30 | 180 | 214 | 34 | 19% |
| 10 | OI 6.375 8/15/2025 144A | 6.38% | 08/15/25 | 215 | 247 | 32 | 15% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 5/17/24 – 5/24/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | BACR 8 PERP | 8.00% | 12/15/99 | 38 |
| 2 | MTDR 5.875 9/15/2026 | 5.88% | 09/15/26 | 36 |
| 3 | OMF 6.875 3/15/2025 | 6.88% | 03/15/25 | 36 |
| 4 | INTNED 6.5 PERP | 6.50% | NULL | 35 |
| 5 | BACR 9.625 PERP | 9.63% | 12/15/99 | 35 |
| 6 | LLOYDS 7.5 PERP | 7.50% | NULL | 35 |
| 7 | BACR 4.375 PERP | 4.38% | NULL | 35 |
| 8 | BACR 6.125 PERP | 6.13% | NULL | 35 |
| 9 | INTNED 4.25 PERP | 4.25% | NULL | 34 |
| 10 | GEL 6.25 5/15/2026 | 6.25% | 05/15/26 | 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 5/17/24 – 5/24/24
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