Corporates
September 2025

Investment Grade Corporate Bond Market Summary – Week Ending 9/12/25

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Investment Grade Corporate Bond Market Summary: Week Ending 9/12/25

Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.

New Issues

IG Corp bond new issues for the week ending 9/12/25, issue size of $50 million and larger

ISSUECOLLATERAL TYPEAMT ISSUED (MM)PRC AT ISSUANCEYIELD AT ISSUANCE (%)SPREAD AT ISSUE
Toyota Motor Credit Corp. (USD) 4% 9/18/2030 Notes 150 100 4
Stellantis Finance US Inc. (USD) 4.95% 9/15/2028 Notes 1000 100 4.95 145
NLG Global Funding (USD) 4.35% 9/15/2030 Notes 450 100 4.35
NBN Co. Limited (USD) 4.15% 9/16/2030 Notes 650 100 4.15 60

Top 10 Performers

Showcases the top 10 IG Corp performers based on the largest bid price increases between 9/5/25 – 9/12/25

RANKBOND NAMECOUPONMATURITYCHANGEPRCPRC-1WDEALERS
1 WBD 5.141 3/15/2052 5.14% 03/15/52 21.96% 76.47 62.70 20
2 WBD 5 9/20/2037 5.00% 09/20/37 15.98% 85.68 73.88 8
3 SBNY 0 11/1/2029 7.41% 11/01/29 11.61% 60.48 54.20 6
4 AVGO 3.75 2/15/2051 144A 3.75% 02/15/51 5.91% 78.78 74.38 30
5 DIS 3.8 5/13/2060 3.80% 05/13/60 5.74% 76.69 72.52 30
6 GL 6.58 5/15/2055 144A 6.58% 05/15/55 5.73% 107.99 102.14 18
7 ORCL 4.375 5/15/2055 4.38% 05/15/55 5.69% 80.80 76.45 25
8 GLW 5.45 11/15/2079 5.45% 11/15/79 5.56% 94.77 89.78 17
9 EIX 3.45 2/1/2052 3.45% 02/01/52 5.49% 68.67 65.09 17
10 BRKHEC 2.85 5/15/2051 2.85% 05/15/51 5.42% 64.52 61.21 23

Bottom 10 Performers

Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 9/5/25 – 9/12/25

RANKBOND NAMECOUPONMATURITYCHANGEPRCPRC-1WDEALERS
1 WLNFP 4.125 9/12/2028 4.13% 09/12/28 -4.45% 82.32 86.15 15
2 WBA 3.2 4/15/2030 3.20% 04/15/30 -2.41% 87.42 89.58 11
3 CITCON 5.375 7/8/2031 5.38% 07/08/31 -1.91% 100.93 102.90 14
4 OB 10 2/15/2030 144A 10.00% 02/15/30 -1.80% 67.94 69.19 18
5 AEGON FLT PERP 3.00% NULL -1.79% 77.63 79.05 10
6 TSINGH 4.75 1/31/2021 4.75% 01/31/21 -1.53% 83.89 85.19 12
7 CERVIM FLT 2/15/2029 144A 7.25% 02/15/29 -1.47% 91.78 93.15 15
8 TELSEC 1.3657 12/10/2031 1.37% 12/10/31 -1.41% 88.33 89.59 9
9 VFC 0.625 2/25/2032 0.63% 02/25/32 -1.29% 72.13 73.07 15
10 C 0.25 1/13/2028 0.25% 01/13/28 -1.15% 102.57 103.76 2

Top 10 Industry Performers

Showcases the top 10 IG industry performers based on the largest yield increases between 9/5/25 – 9/12/25

RANKINDUSTRYCHANGEYLDYLD-1W
1 Utilities: Water -22 bps 5.05% 5.27%
2 Transportation: Consumer -15 bps 4.44% 4.59%
3 Real Estate -15 bps 6.04% 6.18%
4 Media: Diversified & Production -11 bps 4.20% 4.31%
5 Chemicals, Plastics & Rubber -9 bps 4.67% 4.76%
6 Sovereign & Public Finance -9 bps 3.63% 3.71%
7 Retail -8 bps 4.48% 4.56%
8 Finance -8 bps 5.44% 5.52%
9 Hotel, Gaming & Leisure -7 bps 4.46% 4.54%
10 High Tech Industries -7 bps 4.17% 4.24%

Bottom 10 Industry Performers

Showcases the bottom 10 IG industry performers based on the largest yield decreases between 9/5/25 – 9/12/25

RANKINDUSTRYCHANGEYLDYLD-1W
1 Services: Business 46 bps 8.17% 7.71%
2 Energy: Oil & Gas 37 bps 5.10% 4.73%
3 Wholesale 27 bps 4.95% 4.68%
4 Energy: Electricity 22 bps 4.87% 4.65%
5 Containers, Packaging, & Glass 13 bps 4.05% 3.92%
6 Media: Advertising, Printing & Publishing 12 bps 5.88% 5.76%
7 Services: Consumer 8 bps 4.80% 4.73%
8 Aerospace & Defense 6 bps 4.75% 4.69%
9 Healthcare & Pharmaceuticals 6 bps 3.99% 3.94%
10 Banking 5 bps 4.32% 4.27%

5 Year Yield By Industry

Displays the average IG Corp 5 year yield by industry between 9/5/25 – 9/12/25 Results are based on 5 select industry sectors, however, we offer data across 36 sectors

Sentiment

Reveals the percent of IG Corps increasing in price (advancers) vs. IG Corps decreasing in price (decliners) between 9/5/25 – 9/12/25

Top Quote Volume Movers: This Week vs Last Week

Exhibits the IG Corps with the largest increase in quote volume for the week ending 9/5/25 vs. the week ending 9/12/25

RANKTRANCHECOUPONMATURITYPRIOR WEEKTHIS WEEKINCREASE% INCREASE
1 DE 4.25 6/5/2028 4.25% 06/05/28 106 264 158 149%
2 CERVIM FLT 2/15/2029 144A 7.25% 02/15/29 30 150 120 400%
3 TOYOTA 5.053 6/30/2035 5.05% 06/30/35 181 300 119 66%
4 SANTAN 6 PERP 6.06% NULL 127 246 119 94%
5 AYR 5.25 3/15/2030 REGS 5.25% 03/15/30 80 197 117 146%
6 UNH 5.95 6/15/2055 5.95% 06/15/55 176 292 116 66%
7 MQGAU 4.331 6/12/2028 REGS 4.33% 06/12/28 161 274 113 70%
8 DE 4.55 6/5/2030 4.55% 06/05/30 114 227 113 99%
9 MQGAU 4.331 6/12/2028 144A 4.33% 06/12/28 161 274 113 70%
10 CAJAMA 3.5 6/13/2031 3.50% 06/13/31 64 172 108 169%

Most Quoted IG Corps

Ranks the IG Corps that were quoted by the highest number of dealers between 9/5/25 – 9/12/25

RANKTRANCHECOUPONMATURITYDEALERS
1 HSBC 8 PERP 7.69% NULL 38
2 VZ 5.25 4/2/2035 5.25% 04/02/35 36
3 T 5.375 8/15/2035 5.38% 08/15/35 36
4 T 5.4 2/15/2034 5.40% 02/15/34 35
5 AVGO 2.45 2/15/2031 REGS 2.45% 02/15/31 35
6 AVGO 2.45 2/15/2031 144A 2.45% 02/15/31 35
7 BACR 5.367 2/25/2031 5.64% 02/25/31 34
8 BACR 5.367 2/25/2031 5.64% 02/25/31 34
9 CMCSA 3.4 4/1/2030 3.40% 04/01/30 34
10 AVGO 4.3 11/15/2032 4.30% 11/15/32 34

Bid-Offer Spread by Industry

Displays the IG Corp average bid-offer spread by industry between 9/5/25 – 9/12/25 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 9/5/25 – 9/12/25


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