Syndicated Bank Loan Market Summary – January 2021
GET OUR BANK LOAN MARKET SUMMARIES STRAIGHT TO YOUR INBOX. LEARN MORE
Syndicated Bank Loan Market Summary: January 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 1/1/21 – 1/31/21
| 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 | SINCLAIR BROADCAST GROUP INC. TL B | 10.76% | 87.92 | 79.37 | 12 |
| AVERAGE | 4,473 | 0.81% | 96.14 | 95.35 | 13.7 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 1/1/21 – 1/31/21
| RANK | NAME | CHANGE | PX | PX-1M |
|---|---|---|---|---|
| 1 | PROGREXION 2ND LIEN TL | 179.11% | 83.77 | 30.01 |
| 2 | PENN VIRGINIA 2ND LIEN TL | 37.47% | 90.61 | 65.91 |
| 3 | PEABODY ENERGY TL B | 32.62% | 49.99 | 37.69 |
| 4 | AMC ENTERTAINMENT TL B1 | 29.34% | 82.87 | 64.07 |
| 5 | REVLON TL B2 | 20.53% | 64.80 | 53.76 |
| 6 | DONCASTERS PIK TL | 20.45% | 48.68 | 40.42 |
| 7 | SERTA SIMMONS TL | 18.72% | 58.91 | 49.62 |
| 8 | BLUE NILE TL | 18.49% | 84.74 | 71.52 |
| 9 | INMAR 2ND LIEN TL | 18.45% | 88.19 | 74.45 |
| 10 | CINEWORLD TL B | 16.66% | 78.07 | 66.92 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 1/1/21 – 1/31/21
| RANK | NAME | CHANGE | PX | PX-1M |
|---|---|---|---|---|
| 1 | PHILADELPHIA ENERGY TL B | -9.23% | 72.89 | 80.30 |
| 2 | FRONTERA TL B | -6.39% | 21.59 | 23.07 |
| 3 | GLOBAL EAGLE ENTERTMNT TL B | -4.30% | 71.58 | 74.80 |
| 4 | ALPHA GROUP EUR TL | -3.86% | 89.41 | 93.00 |
| 5 | AUDIO VISUAL TL B1 | -3.85% | 84.23 | 87.61 |
| 6 | SECURUS TL | -3.09% | 90.57 | 93.46 |
| 7 | GTT COMMUNICATIONS EUR TL B | -2.89% | 87.16 | 89.75 |
| 8 | NPC TL | -2.32% | 91.82 | 94.00 |
| 9 | APCOA EUR TL B | -2.24% | 95.65 | 97.84 |
| 10 | CORRECTIONS CORP OF AMERICA TL B | -1.87% | 96.65 | 98.50 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 1/1/21 – 1/31/21 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 1/1/21 – 1/31/21
Top Quote Volume Movers: This Month vs Last Month
Exhibits the loans with the largest increase in quote volume for the month ending 12/31/20 vs. the month ending 1/31/21
| RANK | TRANCHE | PRIOR MONTH | THIS MONTH | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | IPH GROUP EUR TL | 50 | 200 | 150 | 300% |
| 2 | AMMERAAL BELTECH EUR TL B | 54 | 170 | 116 | 215% |
| 3 | CERAMTEC EUR TL B | 96 | 212 | 116 | 121% |
| 4 | SCOUT24 EUR TL B | 68 | 182 | 114 | 168% |
| 5 | COBHAM EUR TL B | 84 | 190 | 106 | 126% |
| 6 | LGC EUR TL B | 78 | 184 | 106 | 136% |
| 7 | BOLUDA TOWAGE EUR TL B1 | 86 | 190 | 104 | 121% |
| 8 | MEHILAINEN EUR TL B | 46 | 148 | 102 | 222% |
| 9 | GTT COMMUNICATIONS EUR TL B | 88 | 190 | 102 | 116% |
| 10 | ALLNEX EUR TL B | 88 | 188 | 100 | 114% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 1/1/21 – 1/31/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TELENET EUR TL | 20 |
| 2 | VERISURE EUR TL B | 19 |
| 3 | EIRCOM FINCO SARL EUR TL B | 19 |
| 4 | ZIGGO EUR TL H | 19 |
| 5 | TECHEM EUR TL B4 | 18 |
| 6 | BMC SOFTWARE TL B | 18 |
| 7 | SYNLAB EUR TL B | 18 |
| 8 | CEVA SANTE ANIMALE EUR TL B | 18 |
| 9 | NUMERICABLE EUR TL B12 | 18 |
| 10 | GTT COMMUNICATIONS TL B | 18 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 1/1/21 – 1/31/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 1/1/21 – 1/31/21 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.
