Syndicated Bank Loan Market Summary – Week Ending 10/30/20
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Syndicated Bank Loan Market Summary: Week Ending 10/30/20
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 10/23/20 – 10/30/20
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,451 | REFINITV TL B | -0.49% | 98.42 | 98.90 | 10 |
| 2 | 5,450 | ENVISION HEALTHCARE TL B | -1.51% | 71.24 | 72.34 | 14 |
| 3 | 5,100 | CHANGE HEALTHCARE TL B | -0.72% | 97.52 | 98.23 | 14 |
| 4 | 5,000 | QWEST CORPORATION TL B | -0.64% | 96.17 | 96.79 | 13 |
| 5 | 4,750 | ZAYO TL | -1.08% | 96.27 | 97.33 | 16 |
| 6 | 4,750 | DELL TL B | -0.84% | 98.83 | 99.66 | 18 |
| 7 | 4,700 | CAESARS RESORT COLLECTION TL | -0.25% | 92.79 | 93.02 | 11 |
| 8 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | -0.70% | 97.46 | 98.15 | 10 |
| 9 | 4,250 | BERRY PLASTICS TL X | -0.27% | 98.35 | 98.61 | 10 |
| 10 | 4,246 | PETSMART NON-CONSENTED TL B2 | -0.42% | 98.97 | 99.38 | 11 |
| 11 | 4,197 | AKZONOBEL TL B | -0.75% | 96.86 | 97.60 | 12 |
| 12 | 4,000 | T-MOBILE USA TL B | -0.13% | 99.80 | 99.93 | 16 |
| 13 | 3,861 | PETSMART CONSENTED TL B2 | -0.59% | 99.22 | 99.81 | 12 |
| 14 | 3,582 | MISYS TL B | -0.94% | 94.15 | 95.05 | 14 |
| 15 | 3,575 | STARS GROUP TL B | -0.26% | 99.91 | 100.17 | 15 |
| 16 | 3,524 | TRANSDIGM INC. TL F | -1.71% | 93.95 | 95.58 | 14 |
| 17 | 3,415 | ENDO HEALTH TL B | -1.38% | 95.35 | 96.69 | 11 |
| 18 | 3,338 | ASURION TL B6 | -0.42% | 98.05 | 98.47 | 10 |
| 19 | 3,325 | CINEWORLD TL B | -6.45% | 55.42 | 59.24 | 19 |
| 20 | 3,315 | REYNOLDS GROUP HOLDINGS LIMITED TL B | -0.50% | 98.05 | 98.55 | 10 |
| AVERAGE | 4,270 | -1.00% | 93.84 | 94.67 | 13.0 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 10/23/20 – 10/30/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | AUDIO VISUAL 2ND LIEN TL | 17.79% | 39.27 | 33.34 |
| 2 | SERTA SIMMONS 2ND LIEN TL | 14.38% | 33.34 | 29.15 |
| 3 | PRONOVIAS EUR TL B1 | 12.64% | 55.94 | 49.66 |
| 4 | ALLIANCE HEALTH TL B | 5.47% | 90.95 | 86.23 |
| 5 | SOLINA EUR TL B | 3.93% | 98.48 | 94.76 |
| 6 | MCGRAW-HILL GLOBAL TL | 3.61% | 89.66 | 86.53 |
| 7 | MALLINCKRODT TL B | 3.36% | 92.10 | 89.11 |
| 8 | MONITRONICS EXIT TL | 3.13% | 78.62 | 76.23 |
| 9 | AUDIO VISUAL TL B | 2.27% | 76.23 | 74.54 |
| 10 | PABST TL | 1.67% | 92.41 | 90.89 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 10/23/20 – 10/30/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | DIAMOND SPORTS TL B | -19.40% | 61.67 | 76.52 |
| 2 | FRONTERA TL B | -14.34% | 28.06 | 32.76 |
| 3 | NATIONAL CINEMEDIA TL B | -11.10% | 69.05 | 77.67 |
| 4 | AMC ENTERTAINMENT TL B1 | -7.32% | 56.54 | 61.01 |
| 5 | CINEWORLD TL B | -6.45% | 55.42 | 59.24 |
| 6 | AMERICAN TIRE EXIT PIK FLLO | -5.64% | 91.91 | 97.41 |
| 7 | DOUGLAS HOLDING EUR TL B1 | -4.05% | 84.25 | 87.81 |
| 8 | MERLIN ENTERTAINMENTS TL | -3.62% | 85.22 | 88.42 |
| 9 | PERSTORP EUR TL | -3.18% | 89.94 | 92.89 |
| 10 | EQUINOX HLDGS INC TL B | -2.96% | 72.86 | 75.09 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 10/23/20 – 10/30/20 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 10/23/20 – 10/30/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 10/23/20 vs. the week ending 10/30/20
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | CARNIVAL PLC EUR TL B | 8 | 26 | 18 | 225% |
| 2 | SPRINGER NATURE EUR TL B | 0 | 18 | 18 | N/A |
| 3 | THOR INDUSTRIES EUR TL B | 10 | 26 | 16 | 160% |
| 4 | AI SIRONA LUXEMBOURG AQTN SARL EXT EUR TL B | 0 | 16 | 16 | N/A |
| 5 | ALBANY MOLECULAR EXT TL | 4 | 20 | 16 | 400% |
| 6 | ION TRADING EUR TL B | 14 | 30 | 16 | 114% |
| 7 | MEHILAINEN EUR TL B | 0 | 14 | 14 | N/A |
| 8 | GALILEO GLOBAL EDUCATION EUR TL B | 0 | 14 | 14 | N/A |
| 9 | COLOUR BIDCO GBP TL | 0 | 14 | 14 | N/A |
| 10 | POWER SOLUTIONS EUR TL B | 22 | 36 | 14 | 64% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 10/23/20 – 10/30/20
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | AMC ENTERTAINMENT TL B1 | 20 |
| 2 | CINEWORLD TL B | 20 |
| 3 | TELENET EUR TL | 19 |
| 4 | GTT COMMUNICATIONS TL B | 19 |
| 5 | LUMILEDS TL B | 18 |
| 6 | VERISURE EUR TL B1 | 18 |
| 7 | DELL TL B | 18 |
| 8 | AKZONOBEL EUR TL B | 17 |
| 9 | PARTY CITY TL B | 17 |
| 10 | AMERICAN AIRLINES TL B | 16 |
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 10/23/20 – 10/30/20 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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