High Yield Corporate Bond Market Summary – Week Ending 8/23/24
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High Yield Corporate Bond Market Summary: Week Ending 8/23/24
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 8/16/24 – 8/23/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | LUMN 7.6 9/15/2039 | 7.60% | 09/15/39 | 20.49% | 58.29 | 48.38 | 24 |
| 2 | SSP 5.375 1/15/2031 144A | 5.38% | 01/15/31 | 13.88% | 45.68 | 40.12 | 20 |
| 3 | ABRAGF 11.5 3/2/2028 144A | 11.50% | 03/02/28 | 10.77% | 105.45 | 95.20 | 14 |
| 4 | EAF 9.875 12/15/2028 144A | 9.88% | 12/15/28 | 9.05% | 80.63 | 73.94 | 7 |
| 5 | KPERST 6.5 9/1/2026 REGS | 6.50% | 09/01/26 | 9.02% | 71.66 | 65.73 | 19 |
| 6 | TSE 5.125 4/1/2029 REGS | 5.13% | 04/01/29 | 8.87% | 42.14 | 38.71 | 18 |
| 7 | HLF 4.875 6/1/2029 144A | 4.88% | 06/01/29 | 8.62% | 67.16 | 61.83 | 24 |
| 8 | IHRT 5.25 8/15/2027 144A | 5.25% | 08/15/27 | 8.59% | 64.22 | 59.14 | 19 |
| 9 | RADIAT 6.5 9/15/2028 144A | 6.50% | 09/15/28 | 8.00% | 54.90 | 50.83 | 21 |
| 10 | EAF 4.625 12/15/2028 144A | 4.63% | 12/15/28 | 7.85% | 70.03 | 64.93 | 22 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 8/16/24 – 8/23/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | CMGMCO 8.875 12/15/2027 144A | 8.88% | 12/15/27 | -15.59% | 49.97 | 59.20 | 16 |
| 2 | GPSLI 7 8/15/2028 | 7.00% | 08/15/28 | -14.04% | 61.23 | 71.23 | 16 |
| 3 | CPS 5.625 11/15/2026 144A | 5.63% | 11/15/26 | -7.41% | 81.08 | 87.57 | 7 |
| 4 | INCMBZ 5.75 7/17/2024 REGS | 5.75% | 07/17/24 | -7.03% | 60.96 | 65.57 | 17 |
| 5 | WESCHI 4.95 7/8/2026 | 4.95% | 07/08/26 | -6.87% | 75.13 | 80.67 | 18 |
| 6 | ARGENT 3.875 7/9/2035 | 3.88% | 07/09/35 | -3.78% | 37.80 | 39.29 | 14 |
| 7 | HCELEC 4.65 12/29/2026 | 4.65% | 12/29/26 | -3.49% | 48.82 | 50.59 | 16 |
| 8 | ROADKG 6 3/4/2029 | 6.00% | 09/04/25 | -3.27% | 39.50 | 40.84 | 7 |
| 9 | NEXEOP 10.125 4/1/2026 144A | 10.13% | 04/01/26 | -3.17% | 88.48 | 91.38 | 13 |
| 10 | M 4.3 2/15/2043 | 4.30% | 02/15/43 | -2.91% | 67.64 | 69.67 | 22 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 8/16/24 – 8/23/24 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 8/16/24 – 8/23/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 8/16/24 vs. the week ending 8/23/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | TIBX 8.25 6/30/2032 144A | 8.25% | 06/30/32 | 47 | 168 | 121 | 257% |
| 2 | CCOI 7 6/15/2027 144A | 7.00% | 06/15/27 | 68 | 169 | 101 | 149% |
| 3 | SUMMAT 7.25 1/15/2031 144A | 7.25% | 01/15/31 | 40 | 136 | 96 | 240% |
| 4 | BLURAC 7.25 7/15/2032 144A | 7.25% | 07/15/32 | 52 | 140 | 88 | 169% |
| 5 | UKRAIN FLT 8/1/2041 REGS | 7.75% | 08/01/41 | 60 | 147 | 87 | 145% |
| 6 | ENEDEV 5.662 7/3/2031 144A | 5.66% | 07/03/31 | 10 | 92 | 82 | 820% |
| 7 | WESODA 9.375 2/14/2031 144A | 9.38% | 02/14/31 | 50 | 126 | 76 | 152% |
| 8 | POWBUY 8.5 2/15/2031 144A | 8.50% | 02/15/31 | 81 | 153 | 72 | 89% |
| 9 | STYRO 9.625 3/15/2029 REGS | 9.63% | 03/15/29 | 52 | 120 | 68 | 131% |
| 10 | EIGI 11.75 10/15/2028 144A | 11.75% | 10/31/28 | 36 | 97 | 61 | 169% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 8/16/24 – 8/23/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | BACR 4.375 PERP | 4.38% | NULL | 40 |
| 2 | BACR 6.125 PERP | 6.13% | NULL | 40 |
| 3 | INTNED 3.875 PERP | 3.88% | NULL | 39 |
| 4 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 39 |
| 5 | INTNED 4.25 PERP | 4.25% | NULL | 38 |
| 6 | INTNED 7.5 PERP | 7.50% | 11/16/99 | 38 |
| 7 | BACR 9.625 PERP | 9.63% | 12/15/99 | 38 |
| 8 | INTNED 6.5 PERP | 6.50% | NULL | 37 |
| 9 | UBS 6.875 PERP | 6.88% | 12/29/49 | 37 |
| 10 | LLOYDS 6.75 PERP | 6.75% | NULL | 37 |
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 8/16/24 – 8/23/24
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