Corporates
December 2025

High Yield Corporate Bond Market Summary – Week Ending 12/26/25

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 12/19/25 – 12/26/25

Rank Bond Name Coupon Maturity Change PRC PRC-1W Dealers
1 KIKCN 8.25 6/30/2031 144A 8.25% 06/30/31 ▲ 8.26% 65.50 60.50 19
2 MGI 9 6/1/2030 144A 9.00% 06/01/30 ▲ 7.95% 68.47 63.43 18
3 BRASKM 8.5 1/12/2031 REGS 8.50% 01/12/31 ▲ 6.53% 39.60 37.17 24
4 CLUCAR 6.375 6/1/2029 144A 6.38% 06/01/29 ▲ 4.72% 71.25 68.04 21
5 MCFE 7.375 2/15/2030 144A 7.38% 02/15/30 ▲ 3.79% 88.89 85.64 22
6 8 7/15/2029 8.00% 07/15/29 ▲ 3.64% 116.06 111.99 4
7 AKUCN 9 8/1/2027 144A 8.00% 08/01/27 ▲ 3.62% 95.97 92.62 4
8 ALTICE 5 1/15/2028 REGS 5.00% 01/15/28 ▲ 3.04% 70.16 68.09 25
9 WRLGLD 12 12/31/2029 12.00% 12/31/29 ▲ 2.98% 170.95 166.00 3
10 CRWV 9.25 6/1/2030 144A 9.25% 06/01/30 ▲ 2.95% 93.94 91.25 35

Bottom 10 Performers

Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 12/19/25 – 12/26/25

Rank Bond Name Coupon Maturity Change PRC PRC-1W Dealers
1 SAFFA FLT 4/15/2029 REGS 7.02% 04/15/29 ▼ -7.76% 39.09 42.38 17
2 JELD 7 9/1/2032 144A 7.00% 09/01/32 ▼ -7.34% 65.84 71.05 22
3 CNR 9.5 8/15/2029 144A 9.50% 08/15/29 ▼ -6.54% 74.06 79.24 24
4 NFE 12 11/15/2029 144A 12.00% 11/15/29 ▼ -5.52% 27.78 29.40 19
5 ALTG 9 6/1/2029 144A 9.00% 06/01/29 ▼ -3.13% 88.71 91.58 19
6 CABO 4 11/15/2030 144A 4.00% 11/15/30 ▼ -2.82% 76.25 78.46 20
7 OMI 6.625 4/1/2030 144A 6.63% 04/01/30 ▼ -2.78% 64.60 66.45 20
8 CRNAU 9.25 10/1/2029 REGS 9.25% 10/01/29 ▼ -2.25% 91.90 94.01 20
9 GRUB 13 7/31/2030 144A 13.00% 07/31/30 ▼ -1.95% 83.37 85.03 13
10 SSP 5.375 1/15/2031 144A 5.38% 01/15/31 ▼ -1.86% 76.80 78.25 26

Avg Industry Price

Displays the HY Corp average industry price by sector between 12/19/25 – 12/26/25. Results are based on 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 12/19/25 – 12/26/25

Top Quote Volume Movers: This Week vs Last Week

Exhibits the HY Corps with the largest increase in quote volume for the week ending 12/19/25 vs. the week ending 12/26/25

Rank Tranche Coupon Maturity Prior Week This Week Increase % Increase
1 AA 4.125 3/31/2029 REGS 4.13% 03/31/29 114 195 81 ▲ 71%
2 ITAU 3.875 4/15/2031 REGS 7.19% 04/15/31 20 90 70 ▲ 350%
3 HNDLIN 6.875 1/30/2030 144A 6.88% 01/30/30 151 213 62 ▲ 41%
4 HNDLIN 6.875 1/30/2030 REGS 6.88% 01/30/30 151 213 62 ▲ 41%
5 VENLNG 7 1/15/2030 144A 7.00% 01/15/30 253 305 52 ▲ 21%
6 ZIGGO 7.5 1/15/2033 REGS 7.50% 01/15/33 78 130 52 ▲ 67%
7 BWY 9.25 4/15/2030 144A 9.25% 04/15/30 124 176 52 ▲ 42%
8 BIOGRP 3.375 2/1/2028 144A 3.38% 02/01/28 204 253 49 ▲ 24%
9 BWY 7.875 4/15/2030 144A 7.88% 04/15/30 130 176 46 ▲ 35%
10 ZAYO 9.25 3/9/2030 144A 9.25% 03/09/30 97 140 43 ▲ 44%

Most Quoted HY Corps

Ranks the HY Corps that were quoted by the highest number of dealers between 12/19/25 – 12/26/25

Rank Tranche Coupon Maturity Dealers
1 BACR 6.125 PERP 0.00% 10/25/29 39
2 BACR 7.625 PERP 7.63% 39
3 BNP 7.375 PERP 7.03% 38
4 SANTAN 9.625 PERP 9.04% 38
5 INTNED 5.75 PERP 8.08% 38
6 LLOYDS 6.75 PERP 8.56% 38
7 BACR 8 PERP 9.17% 37
8 STANLN 4.3 PERP REGS 6.88% 37
9 INTNED 4.25 PERP 6.60% 37
10 BNP 4.625 PERP REGS 6.94% 37

Bid-Offer Spread by Industry

Results are based on 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 12/19/25 – 12/26/25



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