High Yield Corporate Bond Market Summary – Week Ending 9/27/24
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High Yield Corporate Bond Market Summary: Week Ending 9/27/24
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 | |
| Petsafe | $775 million senior secured notes | UBS | Q3 2024 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 9/20/24 – 9/27/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | HOME 4.875 7/15/2028 144A | 4.88% | 07/15/28 | 15.95% | 45.66 | 39.37 | 10 |
| 2 | FTLNHD 4.5 5/2/2026 | 4.50% | 05/02/26 | 13.00% | 69.30 | 61.33 | 15 |
| 3 | SBBBSS 2.625 PERP | 2.63% | NULL | 11.37% | 48.13 | 43.21 | 18 |
| 4 | SSP 5.875 7/15/2027 144A | 5.88% | 07/15/27 | 11.06% | 83.93 | 75.58 | 24 |
| 5 | NWDEVL 4.8 PERP | 4.80% | NULL | 10.31% | 45.54 | 41.28 | 20 |
| 6 | SBGI 5.5 3/1/2030 144A | 5.50% | 03/01/30 | 9.74% | 70.94 | 64.64 | 22 |
| 7 | ARNDTN 1.625 PERP | 1.63% | NULL | 8.97% | 81.69 | 74.97 | 16 |
| 8 | WESCHI 4.95 7/8/2026 | 4.95% | 07/08/26 | 6.97% | 75.40 | 70.49 | 17 |
| 9 | ARNDTN 5 PERP | 5.00% | NULL | 6.80% | 84.37 | 79.00 | 11 |
| 10 | NPCUKR 6.875 11/9/2028 REGS | 6.88% | 11/09/28 | 6.06% | 63.24 | 59.62 | 17 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 9/20/24 – 9/27/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | TOTALP 10.5 12/31/2028 144A | 10.50% | 12/31/28 | -10.54% | 74.37 | 83.13 | 12 |
| 2 | MUTARE FLT 3/31/2027 | 12.22% | 03/31/27 | -10.50% | 94.64 | 105.74 | 12 |
| 3 | VCPLN 3.75 3/15/2028 | 3.75% | 03/15/28 | -10.38% | 73.41 | 81.91 | 17 |
| 4 | EHICAR 12 9/26/2027 | 12.00% | 09/26/27 | -9.18% | 68.68 | 75.62 | 14 |
| 5 | MODV 5 10/1/2029 144A | 5.00% | 10/01/29 | -7.99% | 60.05 | 65.27 | 24 |
| 6 | SFRFP 10.5 5/15/2027 REGS | 10.50% | 05/15/27 | -6.45% | 34.41 | 36.79 | 19 |
| 7 | CNECN 5.75 11/24/2028 144A | 5.75% | 11/24/28 | -6.43% | 53.16 | 56.81 | 24 |
| 8 | TITANI 6.25 1/14/2031 | 6.25% | 01/14/31 | -5.58% | 26.83 | 28.42 | 5 |
| 9 | VSAT 7.5 5/30/2031 144A | 7.50% | 05/30/31 | -5.26% | 69.75 | 73.62 | 21 |
| 10 | BHCCN 5.25 1/30/2030 144A | 5.25% | 01/30/30 | -4.92% | 55.05 | 57.89 | 16 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 9/20/24 – 9/27/24 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 9/20/24 – 9/27/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 9/20/24 vs. the week ending 9/27/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | QPARKH 5.125 2/15/2030 REGS | 5.13% | 02/15/30 | 57 | 161 | 104 | 182% |
| 2 | ORSTED 1.75 12/9/3019 | 1.75% | 12/09/19 | 200 | 251 | 51 | 26% |
| 3 | OPY 5.5 10/1/2025 | 5.50% | 10/01/25 | 30 | 77 | 47 | 157% |
| 4 | CPS 10.625 5/15/2027 144A | 5.63% | 05/15/27 | 30 | 72 | 42 | 140% |
| 5 | TMUS 5.05 7/15/2033 | 5.05% | 07/15/33 | 305 | 342 | 37 | 12% |
| 6 | CNK 5.875 3/15/2026 144A | 5.88% | 03/15/26 | 110 | 144 | 34 | 31% |
| 7 | AETUNI 8.25 2/15/2026 144A | 8.25% | 02/15/26 | 218 | 250 | 32 | 15% |
| 8 | TMUS 5.75 1/15/2054 | 5.75% | 01/15/54 | 269 | 301 | 32 | 12% |
| 9 | TMUS 5.2 1/15/2033 | 5.20% | 01/15/33 | 278 | 309 | 31 | 11% |
| 10 | MATW 5.25 12/1/2025 144A | 5.25% | 12/01/25 | 149 | 179 | 30 | 20% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 9/20/24 – 9/27/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | BNP 7.375 PERP | 7.38% | 12/11/99 | 39 |
| 2 | LLOYDS 6.75 PERP | 6.75% | NULL | 38 |
| 3 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 38 |
| 4 | BACR 6.125 PERP | 6.13% | NULL | 37 |
| 5 | F 5.125 11/5/2026 | 5.13% | 11/05/26 | 37 |
| 6 | BACR 4.375 PERP | 4.38% | NULL | 36 |
| 7 | F 5.303 9/6/2029 | 5.30% | 09/06/29 | 36 |
| 8 | INTNED 5.75 PERP | 5.75% | NULL | 36 |
| 9 | SANTAN 8 PERP | 8.20% | NULL | 36 |
| 10 | TMUS 5.05 7/15/2033 | 5.05% | 07/15/33 | 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 9/20/24 – 9/27/24
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