High Yield Corporate Bond Market Summary – Week Ending 7/19/24
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High Yield Corporate Bond Market Summary: Week Ending 7/19/24
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 | 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 7/12/24 – 7/19/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | LVLT 3.75 7/15/2029 144A | 3.75% | 07/15/29 | 16.81% | 37.26 | 31.90 | 17 |
| 2 | GFMEGA 8.25 2/11/2025 REGS | 8.25% | 02/11/25 | 13.98% | 37.70 | 33.08 | 9 |
| 3 | COMM 6 6/15/2025 144A | 6.00% | 06/15/25 | 11.66% | 91.00 | 81.50 | 21 |
| 4 | HOUS 5.25 4/15/2030 144A | 5.25% | 04/15/30 | 11.12% | 66.52 | 59.86 | 18 |
| 5 | BHCCN 14 10/15/2030 144A | 14.00% | 10/15/30 | 9.79% | 86.12 | 78.45 | 20 |
| 6 | ROADKG 7.95 12/31/2049 | 7.95% | NULL | 9.51% | 26.12 | 23.85 | 20 |
| 7 | CSCHLD 7.5 4/1/2028 144A | 7.50% | 04/01/28 | 8.44% | 56.63 | 52.22 | 24 |
| 8 | MLTPLN 5.75 11/1/2028 144A | 5.75% | 11/01/28 | 8.25% | 59.60 | 55.06 | 20 |
| 9 | UNIT 6.5 2/15/2029 144A | 6.50% | 02/15/29 | 7.26% | 70.78 | 65.99 | 23 |
| 10 | LINTA 8.25 2/1/2030 | 8.25% | 02/01/30 | 7.20% | 52.30 | 48.79 | 17 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 7/12/24 – 7/19/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | MDLNIJ 5 4/30/2027 | 3.00% | 04/30/27 | -14.81% | 32.34 | 37.96 | 8 |
| 2 | TALKLN 3.875 2/20/2025 | 3.88% | 02/20/25 | -13.52% | 76.43 | 88.38 | 19 |
| 3 | CJRCN 6 2/28/2030 REGS | 6.00% | 02/28/30 | -10.84% | 37.00 | 41.50 | 2 |
| 4 | M 4.3 2/15/2043 | 4.30% | 02/15/43 | -7.79% | 72.42 | 78.54 | 21 |
| 5 | INCMBZ 5.75 7/17/2024 REGS | 5.75% | 07/17/24 | -7.03% | 66.61 | 71.65 | 18 |
| 6 | AMC 7.5 2/15/2029 144A | 7.50% | 02/15/29 | -6.74% | 66.79 | 71.61 | 23 |
| 7 | FRICON 7.7 7/21/2028 REGS | 7.70% | 07/21/28 | -5.69% | 62.20 | 65.95 | 17 |
| 8 | MIK 7.875 5/1/2029 144A | 7.88% | 05/01/29 | -4.77% | 60.00 | 63.01 | 28 |
| 9 | EHICAR 7 9/21/2026 | 7.00% | 09/21/26 | -4.27% | 80.57 | 84.16 | 16 |
| 10 | STPRAU 6.25 4/30/2026 REGS | 6.25% | 04/30/26 | -4.26% | 88.89 | 92.84 | 15 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 7/12/24 – 7/19/24 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 7/12/24 – 7/19/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 7/12/24 vs. the week ending 7/19/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | BNP 4.5 PERP 144A | 4.50% | NULL | 0 | 166 | 166 | #DIV/0! |
| 2 | OXY 6.125 1/1/2031 | 6.13% | 01/01/31 | 197 | 243 | 46 | 23% |
| 3 | KHC 5.2 7/15/2045 144A | 5.20% | 07/15/45 | 136 | 170 | 34 | 25% |
| 4 | NATH 6.625 11/1/2025 144A | 6.63% | 11/01/25 | 66 | 100 | 34 | 52% |
| 5 | M 6.7 7/15/2034 144A | 6.70% | 07/15/34 | 98 | 129 | 31 | 32% |
| 6 | BIOFSP FLT 5/15/2029 144A | 0.00% | 05/15/29 | 54 | 85 | 31 | 57% |
| 7 | ENLK 5.45 6/1/2047 | 5.45% | 06/01/47 | 168 | 198 | 30 | 18% |
| 8 | M 4.5 12/15/2034 | 4.50% | 12/15/34 | 175 | 205 | 30 | 17% |
| 9 | FE 5 9/1/2044 144A | 5.00% | 09/01/44 | 100 | 129 | 29 | 29% |
| 10 | AXP 5.625 7/28/2034 | 5.63% | 07/28/34 | 154 | 183 | 29 | 19% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 7/12/24 – 7/19/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | BACR 4.375 PERP | 4.38% | NULL | 39 |
| 2 | BACR 9.625 PERP | 9.63% | 12/15/99 | 39 |
| 3 | BACR 6.125 PERP | 6.13% | NULL | 39 |
| 4 | BACR 8 PERP | 8.00% | 12/15/99 | 37 |
| 5 | INTNED 3.875 PERP | 3.88% | NULL | 37 |
| 6 | UBS 6.875 PERP | 6.88% | 12/29/49 | 36 |
| 7 | SOCGEN 8 PERP REGS | 8.00% | NULL | 36 |
| 8 | INTNED 6.5 PERP | 6.50% | NULL | 36 |
| 9 | UBS 7 PERP | 7.00% | NULL | 36 |
| 10 | INTNED 4.25 PERP | 4.25% | 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 7/12/24 – 7/19/24
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