High Yield Corporate Bond Market Summary – Week Ending 7/26/24
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High Yield Corporate Bond Market Summary: Week Ending 7/26/24
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 7/19/24 – 7/26/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | NPCUKR 6.875 11/9/2028 REGS | 6.88% | 11/09/28 | 36.86% | 52.42 | 38.30 | 16 |
| 2 | WOMCHI 4.7 1/22/2028 REGS | 4.70% | 01/22/28 | 23.41% | 55.12 | 44.66 | 16 |
| 3 | UKRAIN FLT 8/1/2041 REGS | 0.00% | 05/31/40 | 22.91% | 59.80 | 48.66 | 6 |
| 4 | ROADKG 5.2 1/12/2026 | 5.20% | 01/12/26 | 16.63% | 42.93 | 36.81 | 21 |
| 5 | LUMN 7.6 9/15/2039 | 7.60% | 09/15/39 | 15.19% | 35.67 | 30.97 | 15 |
| 6 | UKRAVT 6.25 6/24/2030 REGS | 6.25% | 06/24/30 | 12.13% | 31.79 | 28.35 | 17 |
| 7 | LVLT 3.875 11/15/2029 144A | 3.88% | 11/15/29 | 11.73% | 38.22 | 34.21 | 16 |
| 8 | SPRIND 6.5 10/1/2029 144A | 6.50% | 10/01/29 | 8.33% | 54.75 | 50.54 | 19 |
| 9 | PDVSA 8.5 10/27/2020 REGS | 8.50% | 10/27/20 | 5.25% | 90.19 | 85.69 | 19 |
| 10 | RAILUA 8.25 7/9/2026 | 8.25% | 07/09/26 | 5.14% | 79.78 | 75.87 | 17 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 7/19/24 – 7/26/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | IMGRP 8 3/1/2028 | 8.00% | 03/01/28 | -6.59% | 67.50 | 72.26 | 13 |
| 2 | BHCCN 4.875 6/1/2028 144A | 4.88% | 06/01/28 | -6.45% | 74.87 | 80.03 | 22 |
| 3 | PFLEID FLT 4/15/2026 REGS | 8.41% | 04/15/26 | -6.29% | 86.17 | 91.95 | 16 |
| 4 | NAFTO 7.65 7/19/2025 | 7.38% | 07/19/22 | -6.08% | 86.71 | 92.31 | 3 |
| 5 | CUMINT 8 7/1/2029 144A | 8.00% | 07/01/29 | -5.86% | 38.50 | 40.90 | 12 |
| 6 | HTZ 4.625 12/1/2026 144A | 4.63% | 12/01/26 | -5.81% | 73.85 | 78.40 | 26 |
| 7 | ACPROD 6.375 5/15/2029 144A | 6.38% | 05/15/29 | -5.59% | 59.60 | 63.13 | 17 |
| 8 | AZUBBZ 10.875 5/28/2030 144A | 10.88% | 05/28/30 | -4.93% | 76.20 | 80.15 | 15 |
| 9 | TRNSCM FLT 12/15/2026 REGS | 8.91% | 12/15/26 | -4.52% | 68.00 | 71.22 | 12 |
| 10 | RCAP 7.5 4/1/2029 144A | 7.50% | 04/01/29 | -4.50% | 92.77 | 97.15 | 13 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 7/19/24 – 7/26/24 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 7/19/24 – 7/26/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 7/19/24 vs. the week ending 7/26/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | BNP 4.5 PERP 144A | 4.50% | NULL | 166 | 280 | 114 | 69% |
| 2 | CRK 6.75 3/1/2029 144A | 6.75% | 03/01/29 | 42 | 130 | 88 | 210% |
| 3 | OXY 8.5 7/15/2027 | 8.50% | 07/15/27 | 146 | 196 | 50 | 34% |
| 4 | OXY 6.625 9/1/2030 | 6.63% | 09/01/30 | 221 | 270 | 49 | 22% |
| 5 | OXY 6.125 1/1/2031 | 6.13% | 01/01/31 | 243 | 284 | 41 | 17% |
| 6 | SM 5.625 6/1/2025 | 5.63% | 06/01/25 | 236 | 275 | 39 | 17% |
| 7 | SM 6.75 9/15/2026 | 6.75% | 09/15/26 | 206 | 245 | 39 | 19% |
| 8 | MASDAR 4.875 7/25/2033 | 4.88% | 07/25/33 | 100 | 136 | 36 | 36% |
| 9 | OXY 8.875 7/15/2030 | 8.88% | 07/15/30 | 176 | 212 | 36 | 20% |
| 10 | MAT 3.75 4/1/2029 144A | 3.75% | 04/01/29 | 139 | 174 | 35 | 25% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 7/19/24 – 7/26/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | BACR 4.375 PERP | 4.38% | NULL | 39 |
| 2 | BACR 6.125 PERP | 6.13% | NULL | 38 |
| 3 | BACR 9.625 PERP | 9.63% | 12/15/99 | 38 |
| 4 | INTNED 3.875 PERP | 3.88% | NULL | 37 |
| 5 | SOCGEN 8 PERP REGS | 8.00% | NULL | 36 |
| 6 | INTNED 4.25 PERP | 4.25% | NULL | 36 |
| 7 | UBS 7 PERP | 7.00% | NULL | 35 |
| 8 | UBS 6.875 PERP | 6.88% | 12/29/49 | 35 |
| 9 | INTNED 6.5 PERP | 6.50% | NULL | 35 |
| 10 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 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 7/19/24 – 7/26/24
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