Syndicated Bank Loan Market Summary – Week Ending 10/8/21
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Syndicated Bank Loan Market Summary: Week Ending 10/8/21
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 10/1/21 – 10/8/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | -2.83% | 84.77 | 87.23 | 13 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | 0.02% | 99.90 | 99.88 | 11 |
| 3 | 4,700 | CAESARS RESORT COLLECTION TL B | 0.22% | 99.60 | 99.38 | 14 |
| 4 | 3,582 | MISYS TL B | -0.29% | 98.88 | 99.17 | 15 |
| 5 | 3,338 | ASURION TL B6 | 0.25% | 99.65 | 99.40 | 10 |
| 6 | 3,325 | CINEWORLD TL B | -0.14% | 83.84 | 83.96 | 11 |
| 7 | 3,315 | REYNOLDS GROUP HOLDINGS LIMITED TL B | 0.05% | 99.80 | 99.75 | 10 |
| 8 | 3,312 | HUB INTL LTD TL B | 0.01% | 99.01 | 99.00 | 13 |
| 9 | 3,275 | SCIENTIFIC GAMES TL B5 | 0.09% | 99.59 | 99.50 | 11 |
| 10 | 2,902 | FORMULA ONE TL B | 0.06% | 99.73 | 99.67 | 10 |
| 11 | 2,825 | BRAND ENERGY TL | 0.09% | 99.23 | 99.14 | 16 |
| 12 | 2,500 | WEST CORP TL B | 0.03% | 98.54 | 98.51 | 13 |
| 13 | 2,303 | THE NIELSEN COMPANY B.V. TL B4 | 0.02% | 99.86 | 99.84 | 11 |
| 14 | 2,285 | ACTION NEDERLAND EUR TL B | -0.06% | 99.24 | 99.29 | 15 |
| 15 | 2,150 | NUMERICABLE TL B12 | -0.05% | 99.04 | 99.09 | 11 |
| 16 | 2,139 | HB FULLER TL B | 0.04% | 100.07 | 100.03 | 10 |
| 17 | 2,100 | HUSKY INJECTION MOLDING TL B | 0.14% | 98.28 | 98.15 | 13 |
| 18 | 2,060 | INEOS FIN EUR TL B | -0.07% | 99.41 | 99.48 | 13 |
| 19 | 2,000 | SIGMA BIDCO EUR TL B1 | -0.29% | 96.83 | 97.11 | 12 |
| 20 | 2,000 | MACDONALD DETTWILER TL B | 0.05% | 99.22 | 99.17 | 10 |
| AVERAGE | 3,033 | -0.13% | 97.73 | 97.84 | 12.1 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 10/1/21 – 10/8/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | ALSTOM SA EUR TL B | 6.59% | 78.95 | 74.07 |
| 2 | PEABODY ENERGY TL B | 3.15% | 84.05 | 81.49 |
| 3 | LIGHTSTONE GENERATION LLC TL B | 2.98% | 84.67 | 82.22 |
| 4 | ULTERRA TL B | 2.00% | 91.85 | 90.04 |
| 5 | SERVICE KING TL B | 1.90% | 96.88 | 95.07 |
| 6 | KUONI REISEN EUR TL B2 | 1.36% | 99.12 | 97.80 |
| 7 | EPIC CRUDE TL B | 1.29% | 76.15 | 75.17 |
| 8 | COLE HAAN TL B1 | 1.28% | 87.14 | 86.04 |
| 9 | MITCHELL 2ND LIEN TL | 1.21% | 100.77 | 99.56 |
| 10 | EQUINOX HLDGS INC TL B | 1.16% | 93.60 | 92.53 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 10/1/21 – 10/8/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | RIVERBED PIK 2ND LIEN TL | -5.78% | 66.50 | 70.58 |
| 2 | LUMILEDS TL B | -4.38% | 75.52 | 78.98 |
| 3 | ENVISION HEALTHCARE TL B | -2.83% | 84.77 | 87.23 |
| 4 | RSA SECURITY LLC DD 2ND LIEN TL | -1.96% | 96.45 | 98.38 |
| 5 | KLOECKNER EUR TL B | -1.86% | 97.23 | 99.07 |
| 6 | TEAM HEALTH TL | -1.53% | 95.31 | 96.79 |
| 7 | AIR METHODS TL | -1.51% | 96.71 | 98.19 |
| 8 | COMMSCOPE TL B2 | -1.15% | 98.27 | 99.42 |
| 9 | TRAVELPORT TL | -1.03% | 102.55 | 103.62 |
| 10 | HARLAND CLARKE TL B | -1.01% | 92.94 | 93.89 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 10/1/21 – 10/8/21 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 10/1/21 – 10/8/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 10/1/21 vs. the week ending 10/8/21
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | UNIMIN CORP EXIT PIK TL | 40 | 72 | 32 | 80% |
| 2 | CHG HEALTHCARE TL B | 66 | 92 | 26 | 39% |
| 3 | ION CORPORATES EUR TL B | 26 | 48 | 22 | 85% |
| 4 | ALSTOM SA TL B2 | 8 | 28 | 20 | 250% |
| 5 | GOLDEN NUGGET INC TL B | 83 | 102 | 19 | 23% |
| 6 | KODIAK TL B | 31 | 49 | 18 | 58% |
| 7 | ASURION TL B9 | 59 | 77 | 18 | 31% |
| 8 | SPIRIT AEROSYSTEMS TL B | 2 | 20 | 18 | 900% |
| 9 | DEDALUS EUR TL B | 10 | 28 | 18 | 180% |
| 10 | RECORDED BOOKS TL B | 32 | 50 | 18 | 56% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 10/1/21 – 10/8/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | LUMILEDS TL B | 19 |
| 2 | DOUGLAS HOLDING EUR TL B | 18 |
| 3 | IFCO EUR TL B | 17 |
| 4 | ZIGGO EUR TL H | 17 |
| 5 | BANIJAY GROUP EUR TL B | 17 |
| 6 | CERBA HEALTHCARE EUR TL B | 17 |
| 7 | DAE AVIATION TL | 17 |
| 8 | BMC SOFTWARE TL B | 16 |
| 9 | STARK GROUP EUR TL B | 16 |
| 10 | SYNLAB EUR TL B5 | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 10/1/21 – 10/8/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 10/1/21 – 10/8/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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