Syndicated Bank Loan Market Summary – Week Ending 10/2/20
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Syndicated Bank Loan Market Summary: Week Ending 10/2/20
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 9/25/20 – 10/2/20
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,451 | REFINITV TL B | 0.21% | 98.96 | 98.75 | 10 |
| 2 | 5,450 | ENVISION HEALTHCARE TL B | -1.97% | 72.28 | 73.73 | 17 |
| 3 | 5,100 | CHANGE HEALTHCARE TL B | -0.04% | 97.84 | 97.88 | 12 |
| 4 | 5,000 | QWEST CORPORATION TL B | 0.20% | 95.89 | 95.70 | 12 |
| 5 | 4,750 | DELL TL B | 0.07% | 99.31 | 99.24 | 15 |
| 6 | 4,750 | ZAYO TL | 0.36% | 96.94 | 96.60 | 15 |
| 7 | 4,700 | CAESARS RESORT COLLECTION TL | 0.61% | 93.65 | 93.09 | 11 |
| 8 | 4,250 | BERRY PLASTICS TL X | -0.03% | 98.37 | 98.39 | 10 |
| 9 | 4,200 | POWER SOLUTIONS TL B | -0.11% | 97.43 | 97.54 | 11 |
| 10 | 4,197 | AKZONOBEL TL B | 0.51% | 96.74 | 96.25 | 13 |
| 11 | 4,000 | T-MOBILE USA TL B | -0.05% | 99.83 | 99.88 | 16 |
| 12 | 3,861 | PETSMART CONSENTED TL B2 | 0.16% | 99.71 | 99.56 | 13 |
| 13 | 3,582 | MISYS TL B | -0.39% | 93.51 | 93.88 | 13 |
| 14 | 3,575 | STARS GROUP TL B | 0.08% | 99.97 | 99.88 | 14 |
| 15 | 3,524 | TRANSDIGM INC. TL F | -0.24% | 94.08 | 94.31 | 13 |
| 16 | 3,415 | ENDO HEALTH TL B | -1.17% | 94.91 | 96.04 | 10 |
| 17 | 3,338 | ASURION TL B6 | -0.14% | 98.32 | 98.46 | 10 |
| 18 | 3,325 | CINEWORLD TL B | -4.62% | 65.32 | 68.49 | 14 |
| 19 | 3,312 | HUB INTL LTD TL B | 0.05% | 96.60 | 96.55 | 10 |
| 20 | 3,300 | BMC SOFTWARE TL B | 0.41% | 97.26 | 96.85 | 17 |
| AVERAGE | 4,204 | -0.30% | 94.35 | 94.55 | 12.8 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 9/25/20 – 10/2/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | CHECKERS TL | 7.65% | 68.11 | 63.26 |
| 2 | NEP 2ND LIEN TL | 5.35% | 78.00 | 74.04 |
| 3 | LANDESK 2ND LIEN TL | 4.92% | 96.53 | 92.00 |
| 4 | 24 HOUR FITNESS DD TL | 3.57% | 83.85 | 80.95 |
| 5 | TRAVERSE MIDSTREAM TL B | 2.84% | 92.93 | 90.36 |
| 6 | RODENSTOCK EUR TL B | 2.43% | 94.16 | 91.92 |
| 7 | SERTA SIMMONS TL | 2.36% | 81.96 | 80.06 |
| 8 | KUONI REISEN EUR TL B | 2.19% | 87.58 | 85.70 |
| 9 | RADIO ONE TL B | 2.12% | 84.35 | 82.60 |
| 10 | PFLEIDERER EUR TL B | 1.97% | 89.87 | 88.14 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 9/25/20 – 10/2/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | TRAVELPORT TL B | -12.72% | 64.26 | 73.63 |
| 2 | CINEWORLD EUR TL B | -5.66% | 66.45 | 70.44 |
| 3 | LIGHTSQUARED EXIT PIK 2ND LIEN TL | -5.59% | 50.42 | 53.41 |
| 4 | FRONTERA TL B | -4.66% | 33.37 | 35.00 |
| 5 | EPIC CRUDE TL B | -4.55% | 71.26 | 74.65 |
| 6 | MERLIN ENTERTAINMENTS DD TL | -3.24% | 86.47 | 89.36 |
| 7 | AVIS BUDGET TL B | -3.15% | 88.30 | 91.17 |
| 8 | CAPROCK MIDSTREAM TL B | -2.84% | 70.24 | 72.30 |
| 9 | LIFE TIME TL B | -2.83% | 90.66 | 93.30 |
| 10 | EQUINOX HLDGS INC TL B | -2.61% | 76.42 | 78.47 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 9/25/20 – 10/2/20 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 9/25/20 – 10/2/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 9/25/20 vs. the week ending 10/2/20
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | LUMILEDS TL B | 28 | 48 | 20 | 71% |
| 2 | LGC EUR TL B | 18 | 36 | 18 | 100% |
| 3 | NTL CABLE PLC EUR TL R | 32 | 50 | 18 | 56% |
| 4 | COMMERCIAL VEHICLE GROUP TL B | 10 | 28 | 18 | 180% |
| 5 | TENNECO TL B | 28 | 46 | 18 | 64% |
| 6 | USI HOLDINGS TL B | 0 | 18 | 18 | 0% |
| 7 | STADA ARZNEIMITTEL EUR TL F | 14 | 30 | 16 | 114% |
| 8 | RCN GRANDE TL B | 37 | 53 | 16 | 43% |
| 9 | CLUB CORP TL B | 32 | 48 | 16 | 50% |
| 10 | CEVA GROUP TL B | 20 | 36 | 16 | 80% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 9/25/20 – 10/2/20
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | AMC ENTERTAINMENT TL B1 | 21 |
| 2 | GTT COMMUNICATIONS TL B | 20 |
| 3 | COTY TL B | 19 |
| 4 | HARLAND CLARKE TL B7 | 18 |
| 5 | TELENET EUR TL AQ | 18 |
| 6 | AKZONOBEL EUR TL B | 17 |
| 7 | ELSAN GROUPE EUR TL B | 17 |
| 8 | LUMILEDS TL B | 17 |
| 9 | AMERICAN AIRLINES TL B | 17 |
| 10 | EPIQ SYSTEMS TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 9/25/20 – 10/2/20
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 9/18/20 – 9/25/20 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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