High Yield Corporate Bond Market Summary – Week Ending 7/12/24
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High Yield Corporate Bond Market Summary: Week Ending 7/12/24
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 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 7/5/24 – 7/12/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | RADIAT 6.5 9/15/2028 144A | 6.50% | 09/15/28 | 11.14% | 55.83 | 50.24 | 20 |
| 2 | EBS 3.875 8/15/2028 144A | 3.88% | 08/15/28 | 10.30% | 72.24 | 65.50 | 21 |
| 3 | PDVSA 8.5 10/27/2020 REGS | 8.50% | 10/27/20 | 10.20% | 84.93 | 77.07 | 19 |
| 4 | SSP 5.375 1/15/2031 144A | 5.38% | 01/15/31 | 8.73% | 48.68 | 44.78 | 18 |
| 5 | HTZ 5 12/1/2029 144A | 5.00% | 12/01/29 | 7.93% | 66.37 | 61.49 | 28 |
| 6 | UNIT 6 1/15/2030 144A | 6.00% | 01/15/30 | 7.74% | 64.63 | 59.99 | 20 |
| 7 | OPI 9 9/30/2029 144A | 9.00% | 09/30/29 | 7.13% | 80.75 | 75.38 | 19 |
| 8 | LVLT 4.25 7/1/2028 144A | 4.25% | 07/01/28 | 6.61% | 38.84 | 36.43 | 17 |
| 9 | BHCCN 8.5 1/31/2027 144A | 8.50% | 01/31/27 | 6.51% | 73.89 | 69.38 | 20 |
| 10 | GRFSM 3.875 10/15/2028 144A | 3.88% | 10/15/28 | 6.51% | 88.72 | 83.30 | 18 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 7/5/24 – 7/12/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | MDLNIJ 5 4/30/2027 | 5.00% | 04/30/27 | -10.32% | 37.58 | 41.91 | 13 |
| 2 | ARGID 4.75 7/15/2027 REGS | 4.75% | 07/15/27 | -9.01% | 51.36 | 56.45 | 23 |
| 3 | ALNMED 10.5 2/15/2028 | 10.50% | 02/15/28 | -7.38% | 39.50 | 42.65 | 17 |
| 4 | SFRFP 4 2/15/2028 REGS | 4.00% | 02/15/28 | -5.68% | 27.56 | 29.22 | 19 |
| 5 | CUMINT 8 7/1/2029 144A | 8.00% | 07/01/29 | -5.64% | 40.12 | 42.52 | 11 |
| 6 | SATS 6.625 8/1/2026 | 6.63% | 08/01/26 | -4.98% | 46.05 | 48.46 | 21 |
| 7 | ANACAP FLT 7/15/2030 REGS | 8.70% | 07/15/30 | -4.59% | 52.70 | 55.23 | 11 |
| 8 | CNECN 5.75 11/24/2028 144A | 5.75% | 11/24/28 | -4.30% | 48.93 | 51.13 | 18 |
| 9 | MVMOFB 9.875 4/8/2026 REGS | 9.88% | 04/08/26 | -3.21% | 88.14 | 91.06 | 18 |
| 10 | ACPROD 6.375 5/15/2029 144A | 6.38% | 05/15/29 | -3.07% | 62.68 | 64.67 | 17 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 7/5/24 – 7/12/24 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 7/5/24 – 7/12/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 7/5/24 vs. the week ending 7/12/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | GCLIM FLT 6/29/2029 | 7.70% | 06/29/29 | 30 | 115 | 85 | 283% |
| 2 | OPI 9 9/30/2029 144A | 9.00% | 09/30/29 | 101 | 174 | 73 | 72% |
| 3 | ASRIIJ 12 11/2/2025 | 12.00% | 11/02/25 | 70 | 133 | 63 | 90% |
| 4 | KUB 5.333 5/29/2027 | 5.33% | 05/29/27 | 189 | 230 | 41 | 22% |
| 5 | NDAFH FLT 6/6/2025 REGS | 6.30% | 06/06/25 | 65 | 95 | 30 | 46% |
| 6 | HLNLN 3.125 3/24/2025 | 3.13% | 03/24/25 | 65 | 95 | 30 | 46% |
| 7 | CF 4.95 6/1/2043 | 4.95% | 06/01/43 | 162 | 192 | 30 | 19% |
| 8 | RVTY 2.55 3/15/2031 | 2.55% | 03/15/31 | 74 | 103 | 29 | 39% |
| 9 | TRAVEL FLT 6/30/2030 REGS | 7.45% | 06/30/30 | 80 | 106 | 26 | 33% |
| 10 | NDAFH FLT 6/6/2025 144A | 6.30% | 06/06/25 | 35 | 60 | 25 | 71% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 7/5/24 – 7/12/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | BACR 9.625 PERP | 9.63% | 12/15/99 | 39 |
| 2 | BACR 6.125 PERP | 6.13% | NULL | 39 |
| 3 | BACR 8 PERP | 8.00% | 12/15/99 | 38 |
| 4 | INTNED 3.875 PERP | 3.88% | NULL | 37 |
| 5 | BACR 4.375 PERP | 4.38% | NULL | 37 |
| 6 | UBS 7 PERP | 7.00% | NULL | 36 |
| 7 | INTNED 6.5 PERP | 6.50% | NULL | 35 |
| 8 | SOCGEN 8 PERP REGS | 8.00% | NULL | 35 |
| 9 | UBS 6.875 PERP | 6.88% | 12/29/49 | 35 |
| 10 | NWG 8.125 PERP | 8.13% | NULL | 35 |
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 7/5/24 – 7/12/24
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