Syndicated Bank Loan Market Summary – Week Ending 10/1/21
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Syndicated Bank Loan Market Summary: Week Ending 10/1/21
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 9/24/21 – 10/1/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | -1.90% | 87.23 | 88.92 | 13 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | -0.01% | 99.88 | 99.89 | 10 |
| 3 | 5,000 | QWEST CORPORATION TL B | 0.01% | 98.87 | 98.86 | 10 |
| 4 | 5,000 | UNITED CONTINENTAL TL B | 0.03% | 100.66 | 100.64 | 13 |
| 5 | 4,750 | ZAYO TL | 0.04% | 99.09 | 99.04 | 16 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL B | N/A | 99.38 | 99.38 | 14 |
| 7 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | 0.15% | 99.90 | 99.76 | 13 |
| 8 | 4,475 | UNIVISION TL C5 | N/A | 99.88 | 99.88 | 10 |
| 9 | 4,197 | AKZONOBEL TL B | N/A | 99.28 | 99.28 | 10 |
| 10 | 3,900 | DIRECTV TL | -0.05% | 100.07 | 100.12 | 13 |
| 11 | 3,582 | MISYS TL B | 0.09% | 99.17 | 99.08 | 15 |
| 12 | 3,524 | TRANSDIGM INC. TL F | 0.11% | 98.76 | 98.65 | 13 |
| 13 | 3,515 | LIFEPOINT HOSPITALS TL B | 0.15% | 99.86 | 99.71 | 14 |
| 14 | 3,380 | SOLERA TL B | 0.04% | 100.20 | 100.15 | 15 |
| 15 | 3,338 | ASURION TL B6 | 0.08% | 99.40 | 99.32 | 10 |
| 16 | 3,325 | CINEWORLD TL B | 5.55% | 83.96 | 79.54 | 11 |
| 17 | 3,315 | REYNOLDS GROUP HOLDINGS LIMITED TL B | -0.09% | 99.75 | 99.84 | 10 |
| 18 | 3,312 | HUB INTL LTD TL B | N/A | 99.00 | 99.00 | 13 |
| 19 | 3,300 | SINCLAIR BROADCAST GROUP INC. TL B | -5.57% | 57.85 | 61.26 | 12 |
| 20 | 3,300 | NTL CABLE PLC TL N | 0.03% | 99.28 | 99.25 | 11 |
| AVERAGE | 4,051 | -0.07% | 96.07 | 96.08 | 12.3 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 9/24/21 – 10/1/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | GULF FINANCE TL B | 11.97% | 95.80 | 85.56 |
| 2 | CINEWORLD TL B | 5.55% | 83.96 | 79.54 |
| 3 | EXELA TL B | 5.28% | 77.94 | 74.03 |
| 4 | PEABODY ENERGY TL B | 3.99% | 81.49 | 78.37 |
| 5 | HURTIGRUTEN GROUP EUR TL B | 3.85% | 94.49 | 90.99 |
| 6 | GOPHER RESOURCE TL | 3.74% | 94.98 | 91.55 |
| 7 | LIGHTSTONE GENERATION LLC TL C | 3.72% | 82.33 | 79.38 |
| 8 | WORLDSTRIDES PIK HOLDCO TL | 2.46% | 65.18 | 63.62 |
| 9 | NATIONAL CINEMEDIA TL B | 2.05% | 91.18 | 89.35 |
| 10 | TRAVELPORT TL B | 1.76% | 86.00 | 84.52 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 9/24/21 – 10/1/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | MALLINCKRODT EXT TL B | -2.32% | 94.49 | 96.73 |
| 2 | ENVISION HEALTHCARE TL B | -1.90% | 87.23 | 88.92 |
| 3 | LUMILEDS TL B | -1.75% | 78.98 | 80.38 |
| 4 | RSA SECURITY LLC TL B | -1.29% | 98.39 | 99.68 |
| 5 | TELESAT TL B | -1.17% | 89.87 | 90.93 |
| 6 | AIR METHODS TL | -0.77% | 98.19 | 98.96 |
| 7 | STEINHOFF FIN. HLDG GMBH PIK EUR TL A2 | -0.77% | 77.97 | 78.58 |
| 8 | OGF(POMPES FUNEBRES GENERALE) EUR TL B | -0.76% | 96.88 | 97.61 |
| 9 | POULT EUR TL B | -0.70% | 96.40 | 97.08 |
| 10 | SERVICE KING TL B | -0.41% | 95.07 | 95.46 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 9/24/21 – 10/1/21 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 9/24/21 – 10/1/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 9/24/21 vs. the week ending 10/1/21
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | PRETIUM PACKAGING TL B | 24 | 78 | 54 | 225% |
| 2 | TEMPO ACQUISITION TL B | 2 | 38 | 36 | 1800% |
| 3 | MATTRESS FIRM TL B | 20 | 52 | 32 | 160% |
| 4 | HEALTHPORT TL | 34 | 54 | 20 | 59% |
| 5 | SCIENTIFIC GAMES TL B5 | 58 | 78 | 20 | 34% |
| 6 | PRETIUM PACKAGING 2ND LIEN TL | 2 | 21 | 19 | 950% |
| 7 | WORLDWIDE EXPRESS TL | 62 | 80 | 18 | 29% |
| 8 | SOUTHERN VETERINARY PARTNERS TL | 20 | 38 | 18 | 90% |
| 9 | JANE STREET TL B | 36 | 54 | 18 | 50% |
| 10 | PLAYTIKA HOLDING CORP TL B | 66 | 84 | 18 | 27% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 9/24/21 – 10/1/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | LUMILEDS TL B | 18 |
| 2 | ZIGGO EUR TL H | 18 |
| 3 | IFCO EUR TL B | 18 |
| 4 | BANIJAY GROUP EUR TL B | 18 |
| 5 | VERISURE EUR TL B | 18 |
| 6 | CERBA HEALTHCARE EUR TL B | 18 |
| 7 | TMF GROUP HOLDING BV EUR TL B | 18 |
| 8 | SYNLAB EUR TL B5 | 17 |
| 9 | BRAND ENERGY TL | 17 |
| 10 | TELENET EUR TL | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 9/24/21 – 10/1/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 9/24/21 – 10/1/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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