High Yield Corporate Bond Market Summary – Week Ending 1/24/25
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High Yield Corporate Bond Market Summary: Week Ending 1/24/25
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 | Q1 2025 | |
| Exeter Finance LLC | $50 million fungible add-on | CITI | Q1 2025 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 1/17/25 – 1/24/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | VATE 8.5 2/1/2026 144A | 8.50% | 02/01/26 | 12.51% | 93.11 | 82.76 | 13 |
| 2 | TELSAT 6.5 10/15/2027 144A | 6.50% | 10/15/27 | 11.29% | 44.86 | 40.30 | 23 |
| 3 | GTN 4.75 10/15/2030 144A | 4.75% | 10/15/30 | 10.05% | 59.43 | 54.00 | 29 |
| 4 | LOGM 5.5 5/1/2028 144A | 5.50% | 05/01/28 | 9.86% | 46.16 | 42.01 | 14 |
| 5 | PBBGR 8.474 PERP | 8.47% | NULL | 7.67% | 80.05 | 74.35 | 22 |
| 6 | NPCUKR 6.875 11/9/2028 REGS | 6.88% | 11/09/28 | 6.15% | 75.21 | 70.85 | 17 |
| 7 | SECBEN 7 PERP 144A | 7.00% | NULL | 5.60% | 97.09 | 91.94 | 16 |
| 8 | UKRAIN 0 2/1/2034 REGS | 0.00% | 02/01/34 | 5.55% | 43.24 | 40.97 | 22 |
| 9 | ATOFP 5 12/18/2030 | 5.00% | 12/18/30 | 5.50% | 57.03 | 54.05 | 18 |
| 10 | MODV 5 10/1/2029 144A | 5.00% | 10/01/29 | 5.40% | 45.03 | 42.73 | 23 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 1/17/25 – 1/24/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | NWDEVL 4.125 7/18/2029 | 4.13% | 07/18/29 | -29.70% | 39.57 | 56.28 | 24 |
| 2 | SELNSW 8.044 4/1/2026 REGS | 8.00% | 04/01/26 | -9.80% | 70.34 | 77.99 | 10 |
| 3 | ROADKG 5.125 1/26/2030 | 5.13% | 01/26/30 | -9.10% | 35.69 | 39.26 | 19 |
| 4 | ALTICE 4.75 1/15/2028 REGS | 4.75% | 01/15/28 | -5.89% | 45.52 | 48.37 | 19 |
| 5 | BINHLD 9.625 2/28/2027 | 9.63% | 02/28/27 | -5.28% | 96.72 | 102.11 | 9 |
| 6 | THAMES 4 4/18/2027 | 4.00% | 04/18/27 | -3.38% | 72.82 | 75.37 | 20 |
| 7 | ORSTED 2.5 2/18/2021 | 2.50% | 02/18/21 | -2.40% | 71.12 | 72.87 | 17 |
| 8 | TLWLN 10.25 5/15/2026 REGS | 10.25% | 05/15/26 | -2.31% | 93.06 | 95.26 | 27 |
| 9 | CHEPDE 4.375 1/15/2028 REGS | 4.38% | 01/15/28 | -2.15% | 88.49 | 90.43 | 22 |
| 10 | MPW 3.375 4/24/2030 | 3.38% | 04/24/30 | -2.07% | 64.71 | 66.07 | 16 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 1/17/25 – 1/24/25 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 1/17/25 – 1/24/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 1/17/25 vs. the week ending 1/24/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | METINV 7.75 10/17/2029 144A | 7.75% | 10/17/29 | 12 | 80 | 68 | 567% |
| 2 | SAPSJ 3.125 4/15/2026 REGS | 3.13% | 04/15/26 | 164 | 218 | 54 | 33% |
| 3 | TALKLN 8.25 9/1/2027 | 8.25% | 09/01/27 | 36 | 88 | 52 | 144% |
| 4 | ATOFP 5 12/18/2030 144A | 5.00% | 12/18/30 | 62 | 110 | 48 | 77% |
| 5 | JWN 4.25 8/1/2031 | 4.25% | 08/01/31 | 25 | 67 | 42 | 168% |
| 6 | PIZEXP 6.75 7/15/2026 REGS | 6.75% | 07/15/26 | 144 | 180 | 36 | 25% |
| 7 | KPERST 6.5 9/1/2026 REGS | 6.50% | 09/01/26 | 166 | 201 | 35 | 21% |
| 8 | FG 5.5 5/1/2025 144A | 5.50% | 05/01/25 | 106 | 140 | 34 | 32% |
| 9 | POWSOL 6.75 5/15/2028 144A | 6.75% | 05/15/28 | 264 | 298 | 34 | 13% |
| 10 | POWSOL 6.25 5/15/2026 144A | 6.25% | 05/15/26 | 243 | 276 | 33 | 14% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 1/17/25 – 1/24/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | F 5.875 11/7/2029 | 5.88% | 11/07/29 | 39 |
| 2 | F 6.5 2/7/2035 | 6.50% | 02/07/35 | 37 |
| 3 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 36 |
| 4 | DVN 5.2 9/15/2034 | 5.20% | 09/15/34 | 36 |
| 5 | TMUS 5.05 7/15/2033 | 5.05% | 07/15/33 | 35 |
| 6 | INTNED 7.25 PERP | 7.25% | NULL | 34 |
| 7 | LLOYDS 7.5 PERP | 7.50% | NULL | 34 |
| 8 | BACR 6.125 PERP | 6.13% | NULL | 34 |
| 9 | SANTAN 8 PERP | 8.28% | NULL | 34 |
| 10 | UBS 7 PERP | 7.00% | NULL | 34 |
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 1/17/25 – 1/24/25
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