High Yield Corporate Bond Market Summary – Week Ending 6/14/24
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High Yield Corporate Bond Market Summary: Week Ending 6/14/24
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 | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Brightspeed | $1.865 billion senior secured notes | Q3 2024 | |
| Copeland | $950 million secured notes | BCLY | Q2 2024 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 6/7/24 – 6/14/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | RAILUA 8.25 7/9/2026 | 8.25% | 07/09/26 | 20.03% | 76.34 | 63.60 | 17 |
| 2 | NAFTO 7.125 7/19/2026 | 7.13% | 07/19/26 | 19.17% | 79.04 | 66.33 | 16 |
| 3 | CSCHCN 9 12/11/2024 | 9.00% | 12/11/24 | 18.25% | 25.93 | 21.92 | 11 |
| 4 | SATS 6.625 8/1/2026 | 6.63% | 08/01/26 | 14.76% | 45.19 | 39.38 | 24 |
| 5 | HCELEC 4.65 12/29/2026 | 4.65% | 12/29/26 | 14.46% | 55.79 | 48.74 | 12 |
| 6 | SBSAA 9.75 3/1/2026 144A | 9.75% | 03/01/26 | 12.24% | 53.49 | 47.65 | 14 |
| 7 | ARGENT 3.625 7/9/2035 | 3.63% | 07/09/35 | 10.46% | 43.73 | 39.59 | 28 |
| 8 | ANDRGI 9 12/28/2029 REGS | 5.00% | 12/28/29 | 10.32% | 36.02 | 32.65 | 7 |
| 9 | GLPSP 4.5 PERP | 7.92% | NULL | 9.61% | 64.54 | 58.88 | 16 |
| 10 | ROADKG 6 9/4/2025 | 6.00% | 09/04/25 | 9.61% | 33.67 | 30.72 | 23 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 6/7/24 – 6/14/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | EAGRUY 7.5 5/1/2025 REGS | 7.50% | 05/01/25 | -22.15% | 47.49 | 61.00 | 15 |
| 2 | MLTPLN 5.75 11/1/2028 144A | 5.75% | 11/01/28 | -10.67% | 50.41 | 56.43 | 18 |
| 3 | SSP 5.875 7/15/2027 144A | 5.88% | 07/15/27 | -9.90% | 60.82 | 67.50 | 19 |
| 4 | HRGNO 11 2/23/2029 | 11.00% | 02/23/29 | -8.43% | 47.69 | 52.08 | 5 |
| 5 | EAF 4.625 12/15/2028 144A | 4.63% | 12/15/28 | -8.09% | 63.25 | 68.82 | 23 |
| 6 | FONFP 5 3/31/2029 REGS | 5.00% | 03/31/29 | -7.36% | 72.56 | 78.32 | 16 |
| 7 | HTZ 4.625 12/1/2026 144A | 4.63% | 12/01/26 | -7.34% | 74.13 | 80.00 | 27 |
| 8 | INTRUM 4.875 8/15/2025 REGS | 4.88% | 08/15/25 | -6.29% | 77.46 | 82.65 | 24 |
| 9 | BTSG 6.75 2/1/2027 | 6.75% | 02/01/27 | -5.80% | 43.22 | 45.88 | 6 |
| 10 | TRNSCM FLT 12/15/2026 REGS | 9.16% | 12/15/26 | -5.75% | 77.01 | 81.70 | 11 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 6/7/24 – 6/14/24 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 6/7/24 – 6/14/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 6/7/24 vs. the week ending 6/14/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | AMWINS 6.375 2/15/2029 | 6.38% | 02/15/29 | 36 | 127 | 91 | 253% |
| 2 | USFOOD 7.25 1/15/2032 144A | 7.25% | 01/15/32 | 128 | 218 | 90 | 70% |
| 3 | AXTA 7.25 2/15/2031 144A | 7.25% | 02/15/31 | 49 | 123 | 74 | 151% |
| 4 | HOWMID 6.75 1/15/2027 144A | 6.75% | 01/15/27 | 168 | 233 | 65 | 39% |
| 5 | ST 5 10/1/2025 144A | 5.00% | 10/01/25 | 53 | 105 | 52 | 98% |
| 6 | C 7.125 PERP | 6.87% | NULL | 218 | 259 | 41 | 19% |
| 7 | PTSB 4.25 7/10/2030 | 4.25% | 07/10/30 | 125 | 165 | 40 | 32% |
| 8 | ACRISU 10.125 8/1/2026 144A | 10.13% | 08/01/26 | 201 | 238 | 37 | 18% |
| 9 | MEDIND 6.25 4/1/2029 144A | 6.25% | 04/01/29 | 218 | 253 | 35 | 16% |
| 10 | BPL 4.5 3/1/2028 144A | 4.50% | 03/01/28 | 150 | 184 | 34 | 23% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 6/7/24 – 6/14/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | BACR 8 PERP | 8.00% | 12/15/99 | 39 |
| 2 | BACR 6.125 PERP | 6.13% | NULL | 37 |
| 3 | BACR 4.375 PERP | 4.38% | NULL | 37 |
| 4 | BNP 8.5 PERP REGS | 8.50% | 08/14/99 | 37 |
| 5 | BACR 9.625 PERP | 9.63% | 12/15/99 | 37 |
| 6 | DANBNK 7 PERP | 7.00% | NULL | 36 |
| 7 | INTNED 6.5 PERP | 6.50% | NULL | 36 |
| 8 | UBS 7 PERP | 7.00% | NULL | 36 |
| 9 | INTNED 3.875 PERP | 3.88% | NULL | 36 |
| 10 | LLOYDS 7.5 PERP | 7.50% | NULL | 36 |
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 6/7/24 – 6/14/24
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