High Yield Corporate Bond Market Summary – Week Ending 11/15/24
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High Yield Corporate Bond Market Summary: Week Ending 11/15/24
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 | |
| Select Medical | $850 million senior notes | JPM | Week of 11/18 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 11/8/24 – 11/15/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | GFMEGA 8.25 2/11/2025 REGS | 8.25% | 02/11/25 | 13.84% | 44.78 | 39.33 | 9 |
| 2 | EAF 9.875 12/15/2028 144A | 9.88% | 12/15/28 | 7.87% | 90.40 | 83.81 | 8 |
| 3 | UKRAIN 0 2/1/2035 REGS | 0.00% | 02/01/35 | 7.68% | 56.60 | 52.57 | 20 |
| 4 | EAF 9.875 12/15/2028 REGS | 9.88% | 12/15/28 | 7.09% | 89.08 | 83.18 | 16 |
| 5 | GFKLDE 7.75 11/1/2025 REGS | 7.75% | 11/01/25 | 6.32% | 63.18 | 59.42 | 17 |
| 6 | HTZ 4.625 12/1/2026 144A | 4.63% | 12/01/26 | 6.20% | 80.93 | 76.21 | 25 |
| 7 | AMGFIN 0 1/15/2067 144A | 6.60% | 01/15/67 | 5.76% | 70.78 | 66.92 | 7 |
| 8 | AZUBBZ 11.5 5/28/2029 144A | 11.50% | 05/28/29 | 5.46% | 68.23 | 64.70 | 20 |
| 9 | SBBBSS 2.624 PERP | 2.62% | NULL | 5.41% | 39.70 | 37.67 | 18 |
| 10 | MLTPLN 5.5 9/1/2028 144A | 5.50% | 09/01/28 | 5.13% | 70.13 | 66.70 | 21 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 11/8/24 – 11/15/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | EIGI 6 2/15/2029 144A | 6.00% | 02/15/29 | -17.79% | 56.13 | 68.27 | 18 |
| 2 | NAFTO 7.625 11/8/2028 REGS | 7.63% | 11/08/28 | -9.61% | 76.63 | 84.78 | 15 |
| 3 | ECUA 5 7/31/2040 REGS | 5.00% | 07/31/40 | -7.90% | 47.40 | 51.47 | 23 |
| 4 | NOVA 5.875 9/1/2026 144A | 5.88% | 09/01/26 | -7.24% | 77.00 | 83.01 | 17 |
| 5 | NWDEVL 4.8 PERP | 4.80% | NULL | -7.13% | 41.11 | 44.26 | 16 |
| 6 | STPRAU 6.25 4/30/2026 REGS | 6.25% | 04/30/26 | -7.06% | 69.00 | 74.24 | 16 |
| 7 | ROADKG 5.2 1/12/2026 | 5.20% | 01/12/26 | -5.43% | 37.14 | 39.27 | 7 |
| 8 | DISH 5.125 6/1/2029 | 5.13% | 06/01/29 | -4.31% | 63.15 | 65.99 | 19 |
| 9 | PEMEX 6.625 6/15/2035 | 6.63% | 06/15/35 | -4.25% | 80.91 | 84.50 | 21 |
| 10 | ALTICE 5.75 8/15/2029 144A | 5.75% | 08/15/29 | -4.17% | 78.60 | 82.02 | 7 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 11/8/24 – 11/15/24 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 11/8/24 – 11/15/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 11/8/24 vs. the week ending 11/15/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | CC 4.625 11/15/2029 REGS | 4.63% | 11/15/29 | 10 | 196 | 186 | 1860% |
| 2 | FMCN 9.375 3/1/2029 REGS | 9.38% | 03/01/29 | 10 | 167 | 157 | 1570% |
| 3 | FMCN 6.875 10/15/2027 REGS | 6.88% | 10/15/27 | 10 | 164 | 154 | 1540% |
| 4 | GAP 3.875 10/1/2031 144A | 3.88% | 10/01/31 | 112 | 210 | 98 | 88% |
| 5 | SMYREA 8.875 11/15/2031 144A | 8.88% | 11/15/31 | 107 | 205 | 98 | 92% |
| 6 | MAGN 4.75 11/15/2029 REGS | 4.75% | 11/15/29 | 5 | 87 | 82 | 1640% |
| 7 | ECUA 6.9 7/31/2030 REGS | 6.16% | 07/31/30 | 95 | 175 | 80 | 84% |
| 8 | GEO 8.625 4/15/2029 REGS | 8.63% | 04/15/29 | 106 | 180 | 74 | 70% |
| 9 | BANBRA 8.748 PERP REGS | 8.75% | NULL | 66 | 132 | 66 | 100% |
| 10 | SKBTAM 2.125 1/26/2026 | 2.13% | 01/26/26 | 121 | 171 | 50 | 41% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 11/8/24 – 11/15/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | BACR 6.125 PERP | 6.13% | NULL | 38 |
| 2 | INTNED 5.75 PERP | 5.75% | NULL | 37 |
| 3 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 37 |
| 4 | INTNED 6.5 PERP | 6.50% | NULL | 36 |
| 5 | UBS 7 PERP | 7.00% | NULL | 36 |
| 6 | BACR 4.375 PERP | 4.38% | NULL | 36 |
| 7 | UBS 6.875 PERP | 6.88% | 12/29/49 | 36 |
| 8 | NWG 8 PERP | 8.00% | NULL | 36 |
| 9 | BACR 9.625 PERP | 9.63% | 12/15/99 | 36 |
| 10 | INTNED 7.5 PERP | 7.50% | 11/16/99 | 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 11/8/24 – 11/15/24
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