Syndicated Bank Loan Market Summary – Week Ending 11/19/21
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Syndicated Bank Loan Market Summary: Week Ending 11/19/21
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 11/12/21 – 11/19/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 7,270 | MEDLINE TL B | -0.09% | 100.01 | 100.10 | 15 |
| 2 | 5,450 | ENVISION HEALTHCARE TL B | -2.95% | 81.08 | 83.54 | 14 |
| 3 | 5,100 | CHANGE HEALTHCARE TL B | 0.01% | 99.89 | 99.88 | 10 |
| 4 | 5,000 | UNITED CONTINENTAL TL B | -0.43% | 101.40 | 101.84 | 12 |
| 5 | 4,750 | ZAYO TL | -0.27% | 98.48 | 98.75 | 15 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL B | -0.11% | 99.52 | 99.63 | 14 |
| 7 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | -0.19% | 99.52 | 99.71 | 11 |
| 8 | 4,197 | AKZONOBEL TL B | -0.08% | 99.25 | 99.32 | 11 |
| 9 | 3,972 | POWER SOLUTIONS TL B | 0.03% | 99.45 | 99.42 | 10 |
| 10 | 3,900 | DIRECTV TL | -0.09% | 100.13 | 100.22 | 11 |
| 11 | 3,582 | MISYS TL B | -0.08% | 99.45 | 99.52 | 15 |
| 12 | 3,524 | TRANSDIGM INC. TL F | -0.09% | 98.74 | 98.83 | 13 |
| 13 | 3,515 | LIFEPOINT HOSPITALS TL B | -0.19% | 99.56 | 99.75 | 13 |
| 14 | 3,500 | PILOT TRAVEL TL B | -0.16% | 99.26 | 99.42 | 11 |
| 15 | 3,380 | SOLERA TL B | -0.10% | 100.18 | 100.28 | 15 |
| 16 | 3,325 | CINEWORLD TL B | 0.63% | 84.51 | 83.98 | 10 |
| 17 | 3,312 | HUB INTL LTD TL B | -0.33% | 98.77 | 99.09 | 16 |
| 18 | 3,300 | NTL CABLE PLC TL N | -0.16% | 99.07 | 99.23 | 12 |
| 19 | 3,300 | SINCLAIR BROADCAST GROUP INC. TL B | -13.03% | 45.21 | 51.98 | 11 |
| 20 | 3,275 | SCIENTIFIC GAMES TL B5 | -0.13% | 99.58 | 99.71 | 12 |
| AVERAGE | 4,146 | -0.89% | 95.15 | 95.71 | 12.6 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 11/12/21 – 11/19/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | MITEL NETWORKS 2ND LIEN TL | 14.19% | 90.11 | 78.91 |
| 2 | EPIC CRUDE TL B | 2.64% | 78.05 | 76.05 |
| 3 | ELECTRONICS FOR IMAGING TL | 2.48% | 95.90 | 93.58 |
| 4 | PRAESIDIAD EUR TL B | 1.97% | 89.99 | 88.25 |
| 5 | AT&T COLOCATION TL | 1.37% | 85.91 | 84.75 |
| 6 | LIMETREE BAY TL B | 1.36% | 86.64 | 85.47 |
| 7 | IPS 2ND LIEN TL | 1.25% | 100.52 | 99.28 |
| 8 | TELESAT TL B | 1.09% | 90.76 | 89.78 |
| 9 | PEABODY ENERGY TL B | 0.79% | 87.96 | 87.27 |
| 10 | CLUB CORP TL B | 0.74% | 96.64 | 95.93 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 11/12/21 – 11/19/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | SINCLAIR BROADCAST GROUP INC. TL B | -13.03% | 45.21 | 51.98 |
| 2 | YAK MAT 2ND LIEN TL B | -5.87% | 64.85 | 68.89 |
| 3 | ANCHOR GLASS TL B | -5.06% | 87.34 | 92.00 |
| 4 | HOFFMASTER 2ND LIEN TL | -4.67% | 75.36 | 79.06 |
| 5 | CHASSIX TL B | -4.67% | 92.44 | 96.97 |
| 6 | ENVISION HEALTHCARE TL B | -2.95% | 81.08 | 83.54 |
| 7 | GENESIS CARE EUR TL B | -2.09% | 96.66 | 98.73 |
| 8 | WEST CORP TL B | -1.76% | 96.38 | 98.10 |
| 9 | ISAGENIX TL | -1.68% | 75.77 | 77.06 |
| 10 | GENESIS CARE EUR TL B2 | -1.65% | 94.97 | 96.56 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 11/12/21 – 11/19/21 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 11/12/21 – 11/19/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 11/12/21 vs. the week ending 11/19/21
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | CAST & CREW TL | 2 | 88 | 86 | 4300% |
| 2 | INEOS FIN TL B | 48 | 82 | 34 | 71% |
| 3 | VISTRA ENERGY TL B3 | 89 | 119 | 30 | 34% |
| 4 | REYNOLDS GROUP HOLDINGS LIMITED TL | 54 | 84 | 30 | 56% |
| 5 | GRAY TELEVISION TL D | 50 | 80 | 30 | 60% |
| 6 | WHATABURGER TL B | 67 | 96 | 29 | 43% |
| 7 | HORIZON PHARMA TL B | 37 | 66 | 29 | 78% |
| 8 | BERRY PLASTICS TL Z | 79 | 107 | 28 | 35% |
| 9 | HILEX POLY TL B | 72 | 100 | 28 | 39% |
| 10 | JAZZ PHARMA TL B | 64 | 92 | 28 | 44% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 11/12/21 – 11/19/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | LUMILEDS TL B | 20 |
| 2 | BRAND ENERGY TL | 19 |
| 3 | DAE AVIATION TL | 18 |
| 4 | IFCO EUR TL B | 17 |
| 5 | BMC SOFTWARE TL B | 16 |
| 6 | SYNLAB EUR TL B5 | 16 |
| 7 | US TELEPACIFIC TL B | 16 |
| 8 | NUMERICABLE EUR TL B12 | 16 |
| 9 | ACTION NEDERLAND EUR TL B | 16 |
| 10 | HUB INTL LTD TL B | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 11/12/21 – 11/19/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 11/12/21 – 11/19/21 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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