Syndicated Bank Loan Market Summary – August 2021
GET OUR BANK LOAN MARKET SUMMARIES STRAIGHT TO YOUR INBOX. LEARN MORE
Syndicated Bank Loan Market Summary: August 2021
Our newsletter presents key trends derived from observable Syndicated Bank Loan pricing data over a monthly period.
Largest Loans
Highlights the monthly price movements and quote depth for the 20 largest bank loans between 8/1/21 – 8/31/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1M | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | 2.12% | 87.15 | 85.34 | 15 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | 0.03% | 99.77 | 99.74 | 11 |
| 3 | 5,000 | QWEST CORPORATION TL B | 0.41% | 98.68 | 98.27 | 10 |
| 4 | 5,000 | UNITED CONTINENTAL TL B | 0.11% | 100.18 | 100.06 | 14 |
| 5 | 4,750 | ZAYO TL | 0.38% | 98.69 | 98.32 | 15 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL B | 0.39% | 99.14 | 98.75 | 15 |
| 7 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | 0.41% | 99.68 | 99.27 | 12 |
| 8 | 3,972 | POWER SOLUTIONS TL B | -0.28% | 98.84 | 99.12 | 10 |
| 9 | 3,900 | DIRECTV TL | 0.23% | 99.98 | 99.75 | 12 |
| 10 | 3,582 | MISYS TL B | 0.48% | 98.74 | 98.27 | 15 |
| 11 | 3,524 | TRANSDIGM INC. TL F | 0.20% | 98.37 | 98.17 | 13 |
| 12 | 3,515 | LIFEPOINT HOSPITALS TL B | 0.19% | 99.27 | 99.08 | 13 |
| 13 | 3,380 | SOLERA TL B | 0.12% | 99.95 | 99.83 | 15 |
| 14 | 3,338 | ASURION TL B6 | 0.07% | 98.88 | 98.81 | 11 |
| 15 | 3,325 | CINEWORLD TL B | -4.31% | 77.64 | 81.13 | 11 |
| 16 | 3,312 | HUB INTL LTD TL B | 0.43% | 98.85 | 98.42 | 15 |
| 17 | 3,300 | SINCLAIR BROADCAST GROUP INC. TL B | 13.53% | 61.92 | 54.54 | 13 |
| 18 | 3,300 | NTL CABLE PLC TL N | 0.54% | 98.97 | 98.43 | 11 |
| 19 | 3,275 | SCIENTIFIC GAMES TL B5 | 0.72% | 99.10 | 98.40 | 13 |
| 20 | 3,165 | MULTIPLAN TL B | 0.31% | 99.61 | 99.30 | 13 |
| AVERAGE | 3,973 | 0.80% | 95.67 | 95.15 | 12.9 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 8/1/21 – 8/31/21
| RANK | NAME | CHANGE | PX | PX-1M |
|---|---|---|---|---|
| 1 | PREIT ASSOCIATES EXIT 2ND LIEN TL | 27.66% | 56.38 | 44.16 |
| 2 | SINCLAIR BROADCAST GROUP INC. TL B | 13.53% | 61.92 | 54.54 |
| 3 | LIMETREE BAY TL B | 11.22% | 81.57 | 73.33 |
| 4 | STRIKE TL B | 10.11% | 95.56 | 86.78 |
| 5 | STEINHOFF FIN. HLDG GMBH PIK EUR TL A1 | 8.82% | 91.36 | 83.95 |
| 6 | APPLE LEISURE TL | 8.65% | 99.62 | 91.69 |
| 7 | ENVISION HEALTHCARE PIK TL B | 5.33% | 83.99 | 79.74 |
| 8 | PRAESIDIAD EUR TL B | 4.73% | 86.00 | 82.11 |
| 9 | CONTURA ENERGY INC TL | 4.39% | 96.00 | 91.96 |
| 10 | EXELA TL B | 3.49% | 73.44 | 70.97 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 8/1/21 – 8/31/21
| RANK | NAME | CHANGE | PX | PX-1M |
|---|---|---|---|---|
| 1 | AMERIFORGE EXIT TL A | -22.74% | 49.13 | 63.60 |
| 2 | YAK MAT 2ND LIEN TL B | -8.17% | 77.00 | 83.85 |
| 3 | RODAN & FIELDS TL B | -7.29% | 73.14 | 78.89 |
| 4 | RIVERBED TL B | -5.54% | 88.96 | 94.18 |
| 5 | NBG HOME TL | -4.29% | 85.96 | 89.80 |
| 6 | NATIONAL CINEMEDIA TL B | -3.38% | 87.47 | 90.54 |
| 7 | AUDIO VISUAL TL B | -3.36% | 86.97 | 89.99 |
| 8 | AREAS DD EUR TL | -3.34% | 81.43 | 84.24 |
| 9 | PREMIERE GLOBAL TL | -3.22% | 37.24 | 38.48 |
| 10 | STAPLES TL B1 | -2.40% | 94.56 | 96.89 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 8/1/21 – 8/31/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Sentiment
Reveals the percent of loans increasing in price (advancers) vs. loans decreasing in price (decliners) between 8/1/21 – 8/31/21
Top Quote Volume Movers: This Month vs Last Month
Exhibits the loans with the largest increase in quote volume for the month ending 7/31/21 vs. the month ending 8/31/21
| RANK | TRANCHE | PRIOR MONTH | THIS MONTH | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | NAVITAS MIDSTREAM TL B | 22 | 172 | 150 | 682% |
| 2 | HEALTHPORT TL | 58 | 178 | 120 | 207% |
| 3 | EVERI PAYMENTS INC TL B | 29 | 135 | 106 | 366% |
| 4 | CHARTER NEX TL B | 240 | 343 | 103 | 43% |
| 5 | STYROLUTION TL B | 136 | 239 | 103 | 76% |
| 6 | BROADSTREET PARTNERS TL B | 119 | 218 | 99 | 83% |
| 7 | HARBOR FREIGHT TL B | 362 | 457 | 95 | 26% |
| 8 | SABRE TL B2 | 160 | 254 | 94 | 59% |
| 9 | VISUAL COMFORT TL | 108 | 196 | 88 | 81% |
| 10 | SABRE TL B | 168 | 254 | 86 | 51% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 8/1/21 – 8/31/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | LUMILEDS TL B | 19 |
| 2 | ELSAN GROUPE EXT EUR TL B | 18 |
| 3 | SYNLAB EUR TL B5 | 18 |
| 4 | ZIGGO EUR TL H | 18 |
| 5 | RACKSPACE HOSTING TL B | 17 |
| 6 | MITEL NETWORKS TL | 17 |
| 7 | CEVA SANTE ANIMALE EUR TL B | 17 |
| 8 | IFCO EUR TL B | 17 |
| 9 | CHEPLAPHARM ARZNEIMITTEL EUR TL B4 | 17 |
| 10 | TECHEM EUR TL B4 | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 8/1/21 – 8/31/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 8/1/21 – 8/31/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Stay up-to-date with weekly summaries.
Related Resources
About SOLVE
SOLVE is the leading market data platform provider for fixed-income securities, trusted by sophisticated buy-side and sell-side firms worldwide. Founded in 2011, SOLVE leverages its AI-driven technology and deep industry expertise to offer unparalleled transparency into markets, reduce risk, and save hundreds of hours across front-office workflows. With the largest real-time datasets for Securitized Products, Municipal Bonds, Corporate Bonds, Syndicated Bank Loans, Convertible Bonds, CDS, and Private Credit, SOLVE empowers clients to transform the way they bring new securities to market, trade on secondary markets, and value highly illiquid securities. Headquartered in Connecticut, with offices across the globe, SOLVE is the definitive source for market pricing in fixed-income markets.
