Syndicated Bank Loan Market Summary – Week Ending 11/5/21
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Syndicated Bank Loan Market Summary: Week Ending 11/5/21
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 10/29/21 – 11/5/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 7,270 | MEDLINE TL B | 0.04% | 100.15 | 100.11 | 13 |
| 2 | 5,450 | ENVISION HEALTHCARE TL B | 0.82% | 83.21 | 82.54 | 14 |
| 3 | 5,100 | CHANGE HEALTHCARE TL B | 0.12% | 100.00 | 99.88 | 12 |
| 4 | 5,000 | QWEST CORPORATION TL B | 0.13% | 98.86 | 98.74 | 10 |
| 5 | 5,000 | UNITED CONTINENTAL TL B | 0.10% | 101.47 | 101.36 | 13 |
| 6 | 4,750 | ZAYO TL | 0.30% | 98.65 | 98.36 | 15 |
| 7 | 4,700 | CAESARS RESORT COLLECTION TL B | 0.12% | 99.61 | 99.48 | 14 |
| 8 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | 0.02% | 99.78 | 99.76 | 13 |
| 9 | 4,197 | AKZONOBEL TL B | 0.15% | 99.31 | 99.17 | 13 |
| 10 | 3,972 | POWER SOLUTIONS TL B | 0.22% | 99.53 | 99.32 | 12 |
| 11 | 3,900 | DIRECTV TL | 0.12% | 100.17 | 100.05 | 11 |
| 12 | 3,582 | MISYS TL B | 0.11% | 99.52 | 99.41 | 15 |
| 13 | 3,524 | TRANSDIGM INC. TL F | 0.13% | 98.83 | 98.70 | 14 |
| 14 | 3,515 | LIFEPOINT HOSPITALS TL B | 0.06% | 99.75 | 99.69 | 14 |
| 15 | 3,500 | AMERICAN AIRLINES TL B | 0.41% | 104.49 | 104.07 | 11 |
| 16 | 3,380 | SOLERA TL B | 0.04% | 100.27 | 100.23 | 14 |
| 17 | 3,325 | CINEWORLD TL B | 0.87% | 83.01 | 82.29 | 13 |
| 18 | 3,312 | HUB INTL LTD TL B | 0.09% | 98.92 | 98.82 | 14 |
| 19 | 3,300 | NTL CABLE PLC TL N | 0.17% | 99.09 | 98.92 | 12 |
| 20 | 3,300 | SINCLAIR BROADCAST GROUP INC. TL B | -7.76% | 48.72 | 52.82 | 10 |
| AVERAGE | 4,232 | -0.19% | 95.67 | 95.69 | 12.9 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 10/29/21 – 11/5/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | ALSTOM SA TL B2 | 7.73% | 80.87 | 75.06 |
| 2 | CBL & ASSOCIATES TL A | 4.16% | 86.16 | 82.72 |
| 3 | GREEN ENERGY PARTNERS/ST TL B1 | 3.01% | 97.56 | 94.70 |
| 4 | SECURUS 2ND LIEN TL | 2.06% | 94.73 | 92.82 |
| 5 | WORLDSTRIDES PIK HOLDCO TL | 1.81% | 66.38 | 65.19 |
| 6 | SIRVA WORLDWIDE TL | 1.49% | 93.26 | 91.90 |
| 7 | AIR METHODS TL | 1.36% | 96.16 | 94.87 |
| 8 | HARVEY GULF EXIT TL | 1.24% | 76.35 | 75.41 |
| 9 | PEAK 10 TL | 1.20% | 96.29 | 95.15 |
| 10 | SECURUS TL | 1.14% | 96.57 | 95.49 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 10/29/21 – 11/5/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | SINCLAIR BROADCAST GROUP INC. TL B | -7.76% | 48.72 | 52.82 |
| 2 | NSO GROUP TL | -5.30% | 76.34 | 80.62 |
| 3 | RSA SECURITY LLC 2ND LIEN TL | -4.00% | 92.31 | 96.16 |
| 4 | INTERNATIONAL TEXTILE GROUP TL | -3.18% | 92.59 | 95.62 |
| 5 | EASTERN POWER TL B | -2.96% | 86.04 | 88.67 |
| 6 | ISAGENIX TL | -2.08% | 76.00 | 77.61 |
| 7 | ESSENTIAL POWER TL B | -1.62% | 86.77 | 88.20 |
| 8 | SHUTTERFLY TL B | -1.13% | 97.64 | 98.75 |
| 9 | EAGLEPICHER TL | -1.03% | 96.31 | 97.31 |
| 10 | EPIC CRUDE TL B | -0.94% | 76.18 | 76.90 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 10/29/21 – 11/5/21 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 10/29/21 – 11/5/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 10/29/21 vs. the week ending 11/5/21
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | RCN GRANDE TL | 42 | 83 | 41 | 98% |
| 2 | TIBCO TL B | 24 | 46 | 22 | 92% |
| 3 | NEXSTAR BROADCASTING TL B4 | 36 | 58 | 22 | 61% |
| 4 | HYLAND SOFTWARE 2ND LIEN TL | 18 | 40 | 22 | 122% |
| 5 | GRAY TELEVISION TL C | 50 | 72 | 22 | 44% |
| 6 | GETTY IMAGES EUR TL B | 10 | 30 | 20 | 200% |
| 7 | PREGIS TL B | 35 | 55 | 20 | 57% |
| 8 | GRAY TELEVISION TL B | 40 | 60 | 20 | 50% |
| 9 | SOLINA EUR TL B | 22 | 42 | 20 | 91% |
| 10 | SYNCSORT TL | 12 | 32 | 20 | 167% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 10/29/21 – 11/5/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | LUMILEDS TL B | 19 |
| 2 | DAE AVIATION TL | 19 |
| 3 | ACTION NEDERLAND EUR TL B | 18 |
| 4 | BELLIS ACQUISITION CO PLC EUR TL B | 17 |
| 5 | ZIGGO EUR TL H | 17 |
| 6 | IFCO EUR TL B | 17 |
| 7 | ACTION NEDERLAND EXT EUR TL B | 17 |
| 8 | FRONERI EUR TL B | 17 |
| 9 | BRAND ENERGY TL | 17 |
| 10 | CERBA HEALTHCARE EUR TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 10/29/21 – 11/5/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 10/29/21 – 11/5/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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