Syndicated Bank Loan Market Summary – December 2020
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Syndicated Bank Loan Market Summary: December 2020
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 12/1/20 – 12/31/20
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1M | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 10,649 | INOVYN EUR TL B | 0.11% | 99.52 | 99.40 | 10 |
| 2 | 6,451 | REFINITV TL B | 0.57% | 99.75 | 99.19 | 11 |
| 3 | 5,450 | ENVISION HEALTHCARE TL B | 2.38% | 82.97 | 81.04 | 16 |
| 4 | 5,100 | CHANGE HEALTHCARE TL B | 0.50% | 99.47 | 98.98 | 14 |
| 5 | 5,000 | QWEST CORPORATION TL B | 1.07% | 98.75 | 97.71 | 13 |
| 6 | 4,750 | ZAYO TL | 1.20% | 99.29 | 98.11 | 18 |
| 7 | 4,750 | DELL TL B | 0.24% | 100.02 | 99.78 | 17 |
| 8 | 4,700 | CAESARS RESORT COLLECTION TL B | 1.41% | 98.01 | 96.64 | 14 |
| 9 | 4,250 | BERRY PLASTICS TL X | 0.92% | 99.85 | 98.94 | 11 |
| 10 | 4,197 | AKZONOBEL TL B | 0.88% | 98.66 | 97.79 | 10 |
| 11 | 3,582 | MISYS TL B | 1.09% | 97.73 | 96.68 | 13 |
| 12 | 3,575 | STARS GROUP TL B | 0.15% | 100.30 | 100.14 | 16 |
| 13 | 3,524 | TRANSDIGM INC. TL F | 1.10% | 97.96 | 96.90 | 17 |
| 14 | 3,515 | LIFEPOINT HOSPITALS TL B | 1.34% | 99.67 | 98.35 | 15 |
| 15 | 3,415 | ENDO HEALTH TL B | 1.46% | 98.27 | 96.86 | 11 |
| 16 | 3,325 | CINEWORLD TL B | -11.28% | 67.64 | 76.24 | 12 |
| 17 | 3,315 | REYNOLDS GROUP HOLDINGS LIMITED TL B | 0.84% | 99.47 | 98.65 | 10 |
| 18 | 3,312 | HUB INTL LTD TL B | 0.67% | 98.14 | 97.49 | 16 |
| 19 | 3,300 | BMC SOFTWARE TL B | 0.79% | 99.49 | 98.70 | 17 |
| 20 | 3,300 | NTL CABLE PLC TL N | 1.04% | 99.03 | 98.01 | 14 |
| AVERAGE | 4,473 | 0.32% | 96.70 | 96.28 | 13.8 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 12/1/20 – 12/31/20
| RANK | NAME | CHANGE | PX | PX-1M |
|---|---|---|---|---|
| 1 | DYNACAST 2ND LIEN TL | 37.30% | 83.71 | 60.97 |
| 2 | ANASTASIA BEVERLY HILLS TL B | 34.14% | 65.53 | 48.85 |
| 3 | DONCASTERS PIK TL | 20.72% | 40.42 | 33.48 |
| 4 | BUCCANEER 2ND LIEN TL | 18.98% | 64.84 | 54.50 |
| 5 | CRESTWOOD MIDSTREAM TL B | 18.94% | 75.35 | 63.35 |
| 6 | ADB SAFEGATE TL | 18.56% | 89.96 | 75.88 |
| 7 | DUEMMEN ORANGE EUR TL B | 17.41% | 46.47 | 39.58 |
| 8 | MILLER’S ALE HOUSE TL B | 16.55% | 87.00 | 74.65 |
| 9 | PRONOVIAS EUR TL B1 | 15.96% | 74.85 | 64.55 |
| 10 | COLORADO BUYER 2ND LIEN TL | 14.74% | 77.84 | 67.84 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 12/1/20 – 12/31/20
| RANK | NAME | CHANGE | PX | PX-1M |
|---|---|---|---|---|
| 1 | TRIMARK TL | -0.325% | 37.24 | 55.15 |
| 2 | FRONTERA TL B | -0.153% | 23.07 | 27.24 |
| 3 | AMC ENTERTAINMENT TL B1 | -0.151% | 64.07 | 75.47 |
| 4 | CINEWORLD EUR TL B | -0.140% | 67.20 | 78.18 |
| 5 | INTERNATIONAL TEXTILE GROUP 2ND LIEN TL | -0.072% | 41.92 | 45.17 |
| 6 | EASTERN POWER TL B | -0.057% | 93.90 | 99.56 |
| 7 | HOFMANN MENU EUR TL B | -0.050% | 84.83 | 89.32 |
| 8 | CARESTREAM HEALTH 2ND LIEN TL | -0.049% | 73.45 | 77.22 |
| 9 | AVERYS 2ND LIEN EUR TL B | -0.049% | 85.56 | 89.93 |
| 10 | SLV GROUP GMBH EUR TL B | -0.039% | 91.09 | 94.81 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 12/1/20 – 12/31/20 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 12/1/20 – 12/31/20
Top Quote Volume Movers: This Month vs Last Month
Exhibits the loans with the largest increase in quote volume for the month ending 11/30/20 vs. the month ending 12/31/20
| RANK | TRANCHE | PRIOR MONTH | THIS MONTH | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | HILLMAN GROUP TL B | 62 | 196 | 134 | 216% |
| 2 | RACKSPACE HOSTING TL B | 99 | 218 | 119 | 120% |
| 3 | TRANSUNION TL A3 | 68 | 183 | 115 | 169% |
| 4 | BERLIN PACKAGING TL B | 66 | 177 | 111 | 168% |
| 5 | CIBT HOLDINGS TL | 76 | 182 | 106 | 139% |
| 6 | CHUCK E CHEESE TL B | 105 | 208 | 103 | 98% |
| 7 | 1-800 CONTACTS TL B | 92 | 194 | 102 | 111% |
| 8 | ULTIMATE SOFTWARE TL | 225 | 314 | 89 | 40% |
| 9 | PLANET FITNESS TL B | 56 | 144 | 88 | 157% |
| 10 | CONFIE SEGUROS TL B | 155 | 242 | 87 | 56% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 12/1/20 – 12/31/20
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | ZIGGO EUR TL H | 19 |
| 2 | EIRCOM FINCO SARL EUR TL B | 19 |
| 3 | ZAYO TL | 18 |
| 4 | AMC ENTERTAINMENT TL B1 | 18 |
| 5 | BRAND ENERGY TL | 18 |
| 6 | TELENET EUR TL | 18 |
| 7 | CAMPING WORLD TL B | 18 |
| 8 | TRANSDIGM INC. TL F | 17 |
| 9 | GTT COMMUNICATIONS TL B | 17 |
| 10 | SYNLAB EUR TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 12/1/20 – 12/31/20
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 12/1/20 – 12/31/20 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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