Corporates
December 2025

High Yield Corporate Bond Market Summary – Week Ending 12/12/25

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
ASURION LLC $1.25 billion secured notes GS Q4 2025
WEEKLEY HOMES $400 million senior notes BofA Q4 2025
ENERGOS INFRASTRUCTURE $1.5 billion secured notes CITI Q4 2025
AMPLIFY ENERGY CORP. Expected $150 million five-year senior notes ASAS Q4 2025

Top 10 Performers

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

Rank Bond Name Coupon Maturity Change PRC PRC-1W Dealers
1 BALY 5.625 9/1/2029 144A 5.63% 09/01/29 ▲ 24.75% 74.32 59.58 21
2 TROX 4.625 3/15/2029 144A 4.63% 03/15/29 ▲ 13.45% 72.81 64.17 27
3 TELSAT 6.5 10/15/2027 144A 6.50% 10/15/27 ▲ 11.11% 48.94 44.05 22
4 UKRAIN 1.75 2/1/2034 REGS 4.50% 02/01/34 ▲ 7.35% 59.04 55.00 20
5 MCGLN 4.25 PERP 4.25% N/A ▲ 6.98% 55.28 51.67 18
6 KOS 7.75 5/1/2027 REGS 7.75% 05/01/27 ▲ 6.66% 91.62 85.90 26
7 GOLLBZ 9.5 12/5/2030 9.50% 12/05/30 ▲ 6.31% 74.63 70.20 12
8 DISH 5.125 6/1/2029 5.13% 06/01/29 ▲ 6.05% 89.71 84.59 22
9 IHRT 10.875 5/1/2030 144A 10.88% 05/01/30 ▲ 4.67% 87.01 83.13 22
10 BIOGRP 5 2/1/2029 REGS 5.00% 02/01/29 ▲ 4.13% 82.49 79.22 22

Bottom 10 Performers

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

Rank Bond Name Coupon Maturity Change PRC PRC-1W Dealers
1 SGUSLL 11 12/15/2029 REGS 11.00% 12/15/29 ▼ -19.97% 59.95 74.91 13
2 MGI 9 6/1/2030 144A 9.00% 06/01/30 ▼ -9.69% 63.06 69.82 19
3 GTE 9.5 10/15/2029 144A 9.50% 10/15/29 ▼ -8.37% 67.45 73.61 25
4 STYRO 6.75 4/15/2030 REGS 6.75% 04/15/30 ▼ -8.27% 73.46 80.09 24
5 CONSEN 5.625 10/15/2028 REGS 5.63% 10/15/28 ▼ -7.04% 63.12 67.91 20
6 VENLNG 9 PERP 144A 9.18% N/A ▼ -6.82% 76.48 82.07 29
7 XRX 6.75 12/15/2039 6.75% 12/15/39 ▼ -5.92% 29.97 31.85 23
8 LABL 8.625 10/1/2031 144A 8.63% 10/01/31 ▼ -5.36% 56.99 60.21 14
9 CLUCAR 6.375 6/1/2029 144A 6.38% 06/01/29 ▼ -4.04% 66.50 69.30 20
10 CSCHLD 5 11/15/2031 5.00% 11/15/31 ▼ -4.00% 33.53 34.92 22

Avg Industry Price

Displays the HY Corp average industry price by sector between 12/5/25 – 12/12/25 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 12/5/25 – 12/12/25

Top Quote Volume Movers: This Week vs Last Week

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

Rank Tranche Coupon Maturity Prior Week This Week Increase % Increase
1 ADNT 8.25 4/15/2031 REGS 8.25% 04/15/31 100 250 150 ▲ 150%
2 AMPBEV 4 9/1/2029 REGS 4.00% 09/01/29 88 218 130 ▲ 148%
3 WULF 7.75 10/15/2030 REGS 7.75% 10/15/30 66 196 130 ▲ 197%
4 VSTJET 9.5 6/1/2028 REGS 9.50% 06/01/28 86 215 129 ▲ 150%
5 AY 4.125 6/15/2028 REGS 4.13% 06/15/28 86 214 128 ▲ 149%
6 JAZZ 4.375 1/15/2029 REGS 4.38% 01/15/29 84 209 125 ▲ 149%
7 UNSEAM 4.625 6/1/2028 144A 4.63% 06/01/28 89 206 117 ▲ 131%
8 URBASR 5.5 7/1/2032 144A 5.50% 07/01/32 80 193 113 ▲ 141%
9 IGBOND 2.5 6/24/2028 144A 2.50% 06/24/28 68 175 107 ▲ 157%
10 VENLNG 9.5 2/1/2029 144A 9.50% 02/01/29 155 254 99 ▲ 64%

Most Quoted HY Corps

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

Rank Tranche Coupon Maturity Dealers
1 BACR 6.125 PERP 9.61% 41
2 BACR 7.625 PERP 7.63% 39
3 INTNED 5.75 PERP 8.08% 38
4 BNP 7.375 PERP 7.03% 38
5 SANTAN 9.625 PERP 9.04% 38
6 BACR 9.625 PERP 9.63% 37
7 SANTAN 9.625 PERP 9.05% 37
8 STANLN 4.3 PERP REGS 6.88% 37
9 LLOYDS 6.75 PERP 8.56% 37
10 BACR 4.375 PERP 7.15% 37

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 12/5/25 – 12/12/25



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