High Yield Financials: The Weekly Ledger

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High Yield Financials: The Weekly Ledger

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High Yield Financials

The Weekly Ledger

Industry Overview

Summary of significant developments in the Financial Services sector for the 29 June 2026

week ended June 25, 2026. High Yield Credit

AmericasMarket Commentary

Best and Worst Performers

News Summary Ryan Shelley

ICE BofA High Yield Indices/OAS for BDC, Insurance, and Financials Indices ResearchBofAS Analyst

High Yield Financials Earnings Calendar +1 646 855 8283

ryan.shelley@bofa.com

Trading – Financials Bond Price Changes and Returns

Relative Value Tables EvanResearchSilviaAnalyst

BofAS

High Yield Financials Market Commentary +1evan.silvia@bofa.com646 855 6708

The HY Financial Services sector underperformed the broader market this week,

returning -0.1% vs. 0.0% for the ICE BofA US HY Index. As of June 25, the Financials

Services sector was trading at a YTW of 6.9% and STW of 274bps versus the HY Index

at a YTW of 7.1% and STW of 296bps.

The top performing financials bonds this past week were Burford Capital Global Finance

LLC’s 8.500% senior notes ’34, Pagaya U.S. Holdings Co. LLC’s 8.875% senior notes ’30,

and Burford Capital Global Finance LLC’s 9.250% senior notes ’31. Ten-year treasury

yields were down 6bps week over week. The worst performing bonds this past week

were LD Holdings Group LLC’s 8.750% secured notes ’27, LD Holdings Group LLC’s

6.125% senior notes ’28, and Acrisure LLC’s 6.750% secures notes ’32.

News Summary Highlights – JANEST, FCFS, RFNALP

News from the week ended June 25th includes:

Ardonagh Group (ARDGRP) – Issued €175mm add-on to its EURIBOR+362.5bps TLB

due 2/18/31 at €99.875

Blackstone Mortgage Trust Inc. (BXMT) – $343 million loan on One South Wacker

Drive in Chicago defaulted

Burford Capital Ltd.