Syndicated Bank Loan Market Summary – December 2021
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Syndicated Bank Loan Market Summary:December 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 12/1/21 – 12/31/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1M | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 7,270 | MEDLINE TL B | 0.33% | 99.98 | 99.66 | 11 |
| 2 | 5,450 | ENVISION HEALTHCARE TL B | 7.01% | 80.13 | 74.88 | 14 |
| 3 | 5,000 | UNITED CONTINENTAL TL B | 0.56% | 100.12 | 99.56 | 11 |
| 4 | 4,750 | ZAYO TL | 0.80% | 98.52 | 97.74 | 15 |
| 5 | 4,700 | CAESARS RESORT COLLECTION TL B | 0.53% | 99.39 | 98.87 | 13 |
| 6 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | 0.60% | 99.59 | 99.00 | 10 |
| 7 | 3,900 | DIRECTV TL | 0.27% | 100.03 | 99.77 | 12 |
| 8 | 3,582 | MISYS TL B | 0.64% | 99.54 | 98.91 | 14 |
| 9 | 3,524 | TRANSDIGM INC. TL F | 0.62% | 98.54 | 97.93 | 13 |
| 10 | 3,515 | LIFEPOINT HOSPITALS TL B | 0.78% | 99.85 | 99.08 | 13 |
| 11 | 3,380 | SOLERA TL B | 0.36% | 99.96 | 99.61 | 14 |
| 12 | 3,325 | CINEWORLD TL B | -4.20% | 77.13 | 80.51 | 14 |
| 13 | 3,312 | HUB INTL LTD TL B | 0.54% | 98.77 | 98.24 | 16 |
| 14 | 3,100 | JAZZ PHARMA TL B | 0.65% | 100.36 | 99.72 | 11 |
| 15 | 3,000 | DELTA SKYMILES TL B | 0.62% | 105.64 | 104.99 | 11 |
| 16 | 3,000 | WESTINGHOUSE TL B | 0.66% | 99.21 | 98.56 | 14 |
| 17 | 2,985 | HARBOR FREIGHT TL B | 0.70% | 99.76 | 99.07 | 14 |
| 18 | 2,884 | BMC SOFTWARE TL B | 0.67% | 99.56 | 98.90 | 16 |
| 19 | 2,853 | VERTICAL MIDCO GMBH TL B | 0.42% | 100.00 | 99.58 | 10 |
| 20 | 2,825 | BRAND ENERGY TL | -0.71% | 97.65 | 98.35 | 14 |
| AVERAGE | 3,846 | 0.59% | 97.69 | 97.15 | 13.0 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 12/1/21 – 12/31/21
| RANK | NAME | CHANGE | PX | PX-1M |
|---|---|---|---|---|
| 1 | IMAGINA MEDIA AUDIOVISUAL SL 2ND LIEN EUR TL | 17.98% | 74.80 | 63.40 |
| 2 | AMEX GBT TL B | 8.38% | 96.32 | 88.87 |
| 3 | ENVISION HEALTHCARE TL B | 7.01% | 80.13 | 74.88 |
| 4 | GTT COMMUNICATIONS EUR TL B | 5.79% | 88.61 | 83.76 |
| 5 | GENON ENERGY INC TL B | 4.99% | 91.34 | 86.99 |
| 6 | YAK MAT TL B | 3.58% | 89.05 | 85.98 |
| 7 | COLE HAAN TL B1 | 3.35% | 93.83 | 90.79 |
| 8 | ANASTASIA BEVERLY HILLS TL B | 3.30% | 89.08 | 86.24 |
| 9 | BORR DRILLING LTD TL A | 2.65% | 83.07 | 80.93 |
| 10 | MULTIPLAN TL B | 2.56% | 97.53 | 95.10 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 12/1/21 – 12/31/21
| RANK | NAME | CHANGE | PX | PX-1M |
|---|---|---|---|---|
| 1 | NSO GROUP TL | -19.53% | 56.19 | 69.82 |
| 2 | RODAN & FIELDS TL B | -11.29% | 54.70 | 61.66 |
| 3 | REVERE POWER TL B | -10.64% | 83.12 | 93.02 |
| 4 | EASTERN POWER TL B | -8.57% | 77.02 | 84.24 |
| 5 | HOUSTON FOODS INC TL B | -7.43% | 90.95 | 98.25 |
| 6 | CHECKERS TL | -7.16% | 85.73 | 92.34 |
| 7 | HERITAGE POWER TL B | -6.94% | 80.20 | 86.18 |
| 8 | CINEWORLD EUR TL B | -5.89% | 76.60 | 81.40 |
| 9 | WORLD KITCHEN TL | -5.28% | 92.00 | 97.13 |
| 10 | PLUSSERVER EUR TL B | -4.53% | 37.57 | 39.35 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 12/1/21 – 12/31/21 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 12/1/21 – 12/31/21
Top Quote Volume Movers: This Month vs Last Month
Exhibits the loans with the largest increase in quote volume for the month ending 11/30/21 vs. the month ending 12/31/21
| RANK | TRANCHE | PRIOR MONTH | THIS MONTH | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | CERBA HEALTHCARE EUR TL B | 38 | 142 | 104 | 274% |
| 2 | NEP TL B | 40 | 118 | 78 | 195% |
| 3 | CAST & CREW TL | 178 | 255 | 77 | 43% |
| 4 | SMARTBEAR TL | 72 | 136 | 64 | 89% |
| 5 | HYPERION EUR TL B | 3 | 66 | 63 | 2100% |
| 6 | INEOS FIN TL B | 299 | 359 | 60 | 20% |
| 7 | GENESIS CARE EUR TL B2 | 64 | 124 | 60 | 94% |
| 8 | COMPASS POWER TL B | 209 | 265 | 56 | 27% |
| 9 | SPIRIT AEROSYSTEMS TL B | 158 | 213 | 55 | 35% |
| 10 | SONICWALL TL | 218 | 272 | 54 | 25% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 12/1/21 – 12/31/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | LUMILEDS TL B | 18 |
| 2 | IFCO EUR TL B | 18 |
| 3 | DAE AVIATION TL | 18 |
| 4 | CINEWORLD TL B | 17 |
| 5 | ACTION NEDERLAND EUR TL B | 16 |
| 6 | STARK GROUP EUR TL B | 16 |
| 7 | SYNLAB EUR TL B5 | 16 |
| 8 | FONCIA GROUPE EUR TL B | 16 |
| 9 | MEHILAINEN EUR TL B2 | 16 |
| 10 | HUB INTL LTD TL B | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 12/1/21 – 12/31/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 12/1/21 – 12/31/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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