High Yield Corporate Bond Market Summary – Week Ending 10/18/24
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High Yield Corporate Bond Market Summary: Week Ending 10/18/24
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 | Q4 2024 | |
| Rise Baking Co. | $650 million senior secured notes | BofA | Q4 2024 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 10/11/24 – 10/18/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | AMC 7.5 2/15/2029 144A | 7.50% | 02/15/29 | 7.26% | 84.85 | 79.11 | 23 |
| 2 | UKRAIN 0 2/1/2035 REGS | 0.00% | 02/01/35 | 7.10% | 46.94 | 43.83 | 21 |
| 3 | ARGBON 5 1/9/2038 | 2.00% | 01/09/38 | 6.99% | 56.32 | 52.64 | 5 |
| 4 | INCMBZ 5.75 7/17/2024 REGS | 5.75% | 07/17/24 | 6.55% | 49.47 | 46.43 | 15 |
| 5 | HLF 4.875 6/1/2029 144A | 4.88% | 06/01/29 | 6.49% | 64.14 | 60.23 | 26 |
| 6 | MTROLN 14 4/30/2034 REGS | 14.00% | 04/30/34 | 6.17% | 91.32 | 86.01 | 15 |
| 7 | LVLT 3.875 11/15/2029 144A | 3.88% | 11/15/29 | 6.06% | 68.03 | 64.14 | 17 |
| 8 | COSHSA 3 12/31/2026 | 3.00% | 12/31/26 | 6.05% | 96.88 | 91.35 | 10 |
| 9 | NWDEVL 3.75 1/14/2031 | 3.75% | 01/14/31 | 5.10% | 71.44 | 67.98 | 16 |
| 10 | SSP 3.875 1/15/2029 144A | 3.88% | 01/15/29 | 5.06% | 75.66 | 72.01 | 26 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 10/11/24 – 10/18/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | SFRFP 6 2/15/2028 144A | 6.00% | 02/15/28 | -11.84% | 25.13 | 28.50 | 3 |
| 2 | ZEUSBD 6.5 6/30/2027 144A | 6.50% | 06/30/27 | -6.51% | 67.87 | 72.59 | 13 |
| 3 | VCPLN 3.75 3/15/2028 | 3.75% | 03/15/28 | -4.76% | 71.94 | 75.54 | 16 |
| 4 | MIK 7.875 5/1/2029 144A | 7.88% | 05/01/29 | -4.73% | 57.50 | 60.36 | 27 |
| 5 | KEMONE 5.625 11/15/2028 REGS | 5.63% | 11/15/28 | -4.11% | 83.44 | 87.01 | 20 |
| 6 | CSCHLD 4.625 12/1/2030 144A | 4.63% | 12/01/30 | -4.06% | 52.75 | 54.98 | 21 |
| 7 | SBBBSS 2.875 PERP | 2.88% | NULL | -3.89% | 45.23 | 47.06 | 18 |
| 8 | MGFLIN 7.375 5/12/2028 | 7.38% | 05/12/28 | -3.25% | 98.88 | 102.20 | 20 |
| 9 | GAMHOL FLT 7/15/2028 REGS | 9.19% | 07/15/28 | -3.08% | 94.11 | 97.10 | 16 |
| 10 | SGLSJ 4.5 11/16/2029 REGS | 4.50% | 11/16/29 | -2.46% | 82.61 | 84.69 | 18 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 10/11/24 – 10/18/24 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 10/11/24 – 10/18/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 10/11/24 vs. the week ending 10/18/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | GFLCN 6.75 1/15/2031 144A | 6.75% | 01/15/31 | 90 | 218 | 128 | 142% |
| 2 | RDEDOR FLT 5/25/2028 | 4.95% | 05/25/28 | 29 | 119 | 90 | 310% |
| 3 | VICTRA 8.75 9/15/2029 144A | 8.75% | 09/15/29 | 56 | 111 | 55 | 98% |
| 4 | NHPIFS 5.75 2/1/2030 REGS | 5.75% | 02/01/30 | 5 | 56 | 51 | 1020% |
| 5 | FTLNHD 4.5 6/16/2026 | 4.50% | 06/16/26 | 42 | 90 | 48 | 114% |
| 6 | MBGGR 1.5 3/9/2026 | 1.50% | 03/09/26 | 152 | 198 | 46 | 30% |
| 7 | LNG 5.65 4/15/2034 | 5.65% | 04/15/34 | 27 | 70 | 43 | 159% |
| 8 | AZUBBZ 5.875 10/26/2024 144A | 5.88% | 10/26/24 | 46 | 88 | 42 | 91% |
| 9 | VGR 10.5 11/1/2026 144A | 10.50% | 11/01/26 | 148 | 187 | 39 | 26% |
| 10 | ADGREG 6.7 3/12/2042 REGS | 6.70% | 03/12/42 | 260 | 293 | 33 | 13% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 10/11/24 – 10/18/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 38 |
| 2 | LLOYDS 6.75 PERP | 6.75% | NULL | 38 |
| 3 | TMUS 5.05 7/15/2033 | 5.05% | 07/15/33 | 37 |
| 4 | BACR 6.125 PERP | 6.13% | NULL | 37 |
| 5 | INTNED 5.75 PERP | 5.75% | NULL | 36 |
| 6 | LLOYDS 7.5 PERP | 7.50% | NULL | 35 |
| 7 | BACR 9.625 PERP | 9.63% | 12/15/99 | 35 |
| 8 | SANTAN 8 PERP | 7.41% | NULL | 35 |
| 9 | UBS 7 PERP | 7.00% | NULL | 35 |
| 10 | BACR 4.375 PERP | 4.38% | 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 10/11/24 – 10/18/24
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