Syndicated Bank Loan Market Summary – Week Ending 1/7/22
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Syndicated Bank Loan Market Summary: Week Ending 1/7/22
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 12/31/21 – 1/7/22
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 7,270 | MEDLINE TL B | 0.13% | 100.11 | 99.98 | 11 |
| 2 | 5,450 | ENVISION HEALTHCARE TL B | 0.36% | 80.42 | 80.13 | 15 |
| 3 | 5,100 | CHANGE HEALTHCARE TL B | 0.12% | 99.99 | 99.88 | 10 |
| 4 | 5,000 | UNITED CONTINENTAL TL B | 0.57% | 100.69 | 100.12 | 11 |
| 5 | 4,750 | ZAYO TL | 0.40% | 98.92 | 98.52 | 16 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL B | 0.19% | 99.58 | 99.39 | 13 |
| 7 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | 0.19% | 99.78 | 99.59 | 10 |
| 8 | 4,197 | AKZONOBEL TL B | 0.28% | 99.83 | 99.55 | 10 |
| 9 | 3,900 | DIRECTV TL | 0.16% | 100.20 | 100.03 | 12 |
| 10 | 3,582 | MISYS TL B | 0.29% | 99.83 | 99.54 | 15 |
| 11 | 3,524 | TRANSDIGM INC. TL F | 0.45% | 98.98 | 98.54 | 14 |
| 12 | 3,515 | LIFEPOINT HOSPITALS TL B | 0.20% | 100.06 | 99.85 | 13 |
| 13 | 3,380 | SOLERA TL B | 0.27% | 100.23 | 99.96 | 14 |
| 14 | 3,325 | CINEWORLD TL B | 0.56% | 77.56 | 77.13 | 14 |
| 15 | 3,312 | HUB INTL LTD TL B | 0.72% | 99.48 | 98.77 | 16 |
| 16 | 3,300 | NTL CABLE PLC TL N | 0.35% | 99.38 | 99.03 | 11 |
| 17 | 3,100 | JAZZ PHARMA TL B | 0.07% | 100.43 | 100.36 | 11 |
| 18 | 3,000 | DELTA SKYMILES TL B | 0.35% | 106.01 | 105.64 | 12 |
| 19 | 3,000 | WESTINGHOUSE TL B | 0.28% | 99.49 | 99.21 | 15 |
| 20 | 2,985 | HARBOR FREIGHT TL B | 0.15% | 99.91 | 99.76 | 13 |
| AVERAGE | 4,048 | 0.30% | 98.04 | 97.75 | 12.8 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 12/31/21 – 1/7/22
| RANK | NAME | CHANGE | PX | PX-1M |
|---|---|---|---|---|
| 1 | ELECTRONICS FOR IMAGING 2ND LIEN TL | 4.37% | 94.70 | 90.73 |
| 2 | GTT COMMUNICATIONS EUR TL B | 4.29% | 92.41 | 88.61 |
| 3 | SIGMA BIDCO PLN TL B3 | 3.99% | 96.06 | 92.38 |
| 4 | EPIC CRUDE TL B | 3.07% | 80.18 | 77.80 |
| 5 | REVLON TL B | 2.69% | 57.95 | 56.43 |
| 6 | ENVISION HEALTHCARE PIK TL B | 2.68% | 77.47 | 75.45 |
| 7 | ACETOW GMBH EUR TL | 2.13% | 92.39 | 90.46 |
| 8 | AUDIO VISUAL TL B | 2.01% | 92.91 | 91.08 |
| 9 | TRAVEL LEADERS TL | 1.79% | 93.28 | 91.63 |
| 10 | SPRING EDUCATION TL | 1.62% | 97.90 | 96.34 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 12/31/21 – 1/7/22
| RANK | NAME | CHANGE | PX | PX-1M |
|---|---|---|---|---|
| 1 | EXELA TL B | -5.07% | 77.84 | 82.00 |
| 2 | RSA SECURITY LLC 2ND LIEN TL | -2.71% | 90.14 | 92.66 |
| 3 | HERITAGE POWER TL B | -2.48% | 78.21 | 80.20 |
| 4 | MONITRONICS EXIT TL | -2.17% | 92.43 | 94.48 |
| 5 | EQUINOX HLDGS INC 2ND LIEN TL | -1.04% | 88.87 | 89.81 |
| 6 | SHUTTERFLY TL B | -1.02% | 97.39 | 98.39 |
| 7 | CPM HOLDINGS TL | -0.64% | 98.48 | 99.11 |
| 8 | CLARION EVENTS GBP TL | -0.48% | 92.10 | 92.55 |
| 9 | ATKINS TL B | -0.34% | 100.38 | 100.72 |
| 10 | UNIT 4 AGRESSO NV EUR TL B | -0.31% | 99.69 | 100.00 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 12/31/21 – 1/7/22 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 12/31/21 – 1/7/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 12/31/21 vs. the week ending 1/7/22
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | ZAYO TL | 62 | 138 | 76 | 123% |
| 2 | UBER TECHNOLOGIES TL B | 42 | 106 | 64 | 152% |
| 3 | UBER TECHNOLOGIES TL B | 38 | 101 | 63 | 166% |
| 4 | HUB INTL LTD TL B | 56 | 119 | 63 | 113% |
| 5 | BMC SOFTWARE TL B | 50 | 111 | 61 | 122% |
| 6 | EPICOR SOFTWARE TL | 72 | 132 | 60 | 83% |
| 7 | MISYS TL B | 51 | 110 | 59 | 116% |
| 8 | AMERICAN AIRLINES TL B | 32 | 90 | 58 | 181% |
| 9 | ENVISION HEALTHCARE TL B | 48 | 106 | 58 | 121% |
| 10 | CHARTER COMMUNICATIONS TL B2 | 32 | 90 | 58 | 181% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 12/31/21 – 1/7/22
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | LUMILEDS TL B | 18 |
| 2 | CINEWORLD TL B | 18 |
| 3 | DAE AVIATION TL | 18 |
| 4 | LIGHTSTONE GENERATION LLC TL B | 17 |
| 5 | IFCO EUR TL B | 17 |
| 6 | SYNLAB EUR TL B5 | 16 |
| 7 | HUB INTL LTD TL B | 16 |
| 8 | ENVISION HEALTHCARE TL B | 16 |
| 9 | ZAYO TL | 16 |
| 10 | EPICOR SOFTWARE TL | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 12/31/21 – 1/7/22
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 12/31/21 – 1/7/22 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Stay up-to-date with weekly summaries.
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