Syndicated Bank Loan Market Summary – Week Ending 1/14/22
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Syndicated Bank Loan Market Summary: Week Ending 1/14/22
Our newsletter presents key trends derived from observable Syndicated Bank Loan pricing data over a weekly period.
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 1/7/22 – 1/14/22
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 7,270 | MEDLINE TL B | 0.07% | 100.18 | 100.11 | 11 |
| 2 | 5,450 | ENVISION HEALTHCARE TL B | -1.49% | 79.22 | 80.42 | 16 |
| 3 | 5,100 | CHANGE HEALTHCARE TL B | 0.11% | 100.11 | 99.99 | 10 |
| 4 | 5,000 | QWEST CORPORATION TL B | 0.22% | 99.03 | 98.81 | 10 |
| 5 | 5,000 | UNITED CONTINENTAL TL B | 0.27% | 100.96 | 100.69 | 11 |
| 6 | 4,750 | ZAYO TL | 0.38% | 99.29 | 98.92 | 17 |
| 7 | 4,700 | CAESARS RESORT COLLECTION TL B | 0.20% | 99.78 | 99.58 | 15 |
| 8 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | 0.13% | 99.91 | 99.78 | 11 |
| 9 | 4,197 | AKZONOBEL TL B | 0.01% | 99.84 | 99.83 | 10 |
| 10 | 3,900 | DIRECTV TL | 0.23% | 100.43 | 100.20 | 13 |
| 11 | 3,582 | MISYS TL B | 0.07% | 99.89 | 99.83 | 16 |
| 12 | 3,524 | TRANSDIGM INC. TL F | 0.37% | 99.36 | 98.98 | 15 |
| 13 | 3,515 | LIFEPOINT HOSPITALS TL B | 0.06% | 100.11 | 100.06 | 14 |
| 14 | 3,380 | SOLERA TL B | 0.12% | 100.35 | 100.23 | 15 |
| 15 | 3,325 | CINEWORLD TL B | 1.73% | 78.91 | 77.56 | 14 |
| 16 | 3,312 | HUB INTL LTD TL B | 0.30% | 99.78 | 99.48 | 16 |
| 17 | 3,300 | NTL CABLE PLC TL N | 0.30% | 99.68 | 99.38 | 12 |
| 18 | 3,275 | SCIENTIFIC GAMES TL B5 | 0.09% | 99.88 | 99.79 | 11 |
| 19 | 3,100 | JAZZ PHARMA TL B | 0.02% | 100.45 | 100.43 | 12 |
| 20 | 3,000 | WESTINGHOUSE TL B | 0.27% | 99.76 | 99.49 | 15 |
| AVERAGE | 4,162 | 0.17% | 97.85 | 97.68 | 13.2 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 1/7/22 – 1/14/22
| RANK | NAME | CHANGE | PX | PX-1M |
|---|---|---|---|---|
| 1 | ACETOW GMBH EUR TL | 3.87% | 95.97 | 92.39 |
| 2 | HOTELBEDS EUR TL D | 3.39% | 94.29 | 91.20 |
| 3 | ANCHOR GLASS 2ND LIEN TL | 3.30% | 46.69 | 45.20 |
| 4 | LIGHTSTONE GENERATION LLC TL C | 2.53% | 86.54 | 84.40 |
| 5 | AREAS EUR TL B1 | 2.19% | 92.12 | 90.15 |
| 6 | ELECTRONICS FOR IMAGING 2ND LIEN TL | 2.05% | 96.64 | 94.70 |
| 7 | CINEWORLD TL B | 1.91% | 77.48 | 76.02 |
| 8 | HURTIGRUTEN GROUP EUR TL B | 1.73% | 94.65 | 93.04 |
| 9 | TRAVEL LEADERS TL | 1.72% | 94.88 | 93.28 |
| 10 | MITEL NETWORKS 2ND LIEN TL | 1.61% | 93.15 | 91.67 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 1/7/22 – 1/14/22
| RANK | NAME | CHANGE | PX | PX-1M |
|---|---|---|---|---|
| 1 | CONSTELLIS HOLDINGS LLC PIK 2ND LIEN TL | -7.81% | 67.63 | 73.36 |
| 2 | HERITAGE POWER TL B | -3.21% | 75.70 | 78.21 |
| 3 | GTT COMMUNICATIONS EUR TL B | -2.61% | 90.00 | 92.41 |
| 4 | ENVISION HEALTHCARE TL B | -1.49% | 79.22 | 80.42 |
| 5 | LIMETREE BAY TL B | -1.13% | 88.13 | 89.14 |
| 6 | TELESAT TL B | -0.97% | 88.48 | 89.34 |
| 7 | SINCLAIR BROADCAST GROUP INC. TL B | -0.93% | 97.31 | 98.22 |
| 8 | STRATEGIC PARTNERS TL B | -0.75% | 99.00 | 99.74 |
| 9 | RSA SECURITY LLC TL B | -0.67% | 94.21 | 94.84 |
| 10 | PGS TL B | -0.53% | 89.58 | 90.06 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 1/7/22 – 1/14/22 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 1/7/22 – 1/14/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 1/7/22 vs. the week ending 1/14/22
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | SIGMA BIDCO TL B2 | 54 | 88 | 34 | 63% |
| 2 | INEOS FIN EUR TL B | 30 | 60 | 30 | 100% |
| 3 | INEOS FIN EUR TL B | 30 | 60 | 30 | 100% |
| 4 | BELLIS ACQUISITION CO PLC EUR TL B | 48 | 76 | 28 | 58% |
| 5 | DOUGLAS HOLDING EUR TL B | 16 | 44 | 28 | 175% |
| 6 | EIRCOM FINCO SARL EUR TL B | 36 | 64 | 28 | 78% |
| 7 | TDC EUR TL B | 39 | 66 | 27 | 69% |
| 8 | TELENET EUR TL | 49 | 76 | 27 | 55% |
| 9 | STADA ARZNEIMITTEL EUR TL F | 39 | 66 | 27 | 69% |
| 10 | NTL CABLE PLC EUR TL R | 48 | 75 | 27 | 56% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 1/7/22 – 1/14/22
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | LUMILEDS TL B | 20 |
| 2 | CINEWORLD TL B | 19 |
| 3 | LIGHTSTONE GENERATION LLC TL B | 18 |
| 4 | IFCO EUR TL B | 18 |
| 5 | DAE AVIATION TL | 18 |
| 6 | SYNLAB EUR TL B5 | 17 |
| 7 | ALPHA BIDCO EUR TL B | 17 |
| 8 | ACTION NEDERLAND EUR TL B | 17 |
| 9 | ENVISION HEALTHCARE TL B | 17 |
| 10 | ZIGGO EUR TL H | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 1/7/22 – 1/14/22
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 1/7/22 – 1/14/22 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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