Syndicated Bank Loan Market Summary – Week Ending 11/6/20
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Syndicated Bank Loan Market Summary: Week Ending 11/6/20
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 10/30/20 – 11/6/20
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,451 | REFINITV TL B | 0.74% | 99.14 | 98.42 | 10 |
| 2 | 5,450 | ENVISION HEALTHCARE TL B | 1.41% | 72.25 | 71.24 | 12 |
| 3 | 5,100 | CHANGE HEALTHCARE TL B | 0.87% | 98.37 | 97.52 | 12 |
| 4 | 5,000 | QWEST CORPORATION TL B | 1.26% | 97.38 | 96.17 | 11 |
| 5 | 4,750 | DELL TL B | 0.81% | 99.63 | 98.83 | 17 |
| 6 | 4,750 | ZAYO TL | 1.15% | 97.38 | 96.27 | 16 |
| 7 | 4,700 | CAESARS RESORT COLLECTION TL | 0.79% | 93.52 | 92.79 | 11 |
| 8 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | 1.24% | 98.67 | 97.46 | 10 |
| 9 | 4,250 | BERRY PLASTICS TL X | 0.68% | 99.01 | 98.35 | 10 |
| 10 | 4,246 | PETSMART NON-CONSENTED TL B2 | 0.12% | 99.08 | 98.97 | 12 |
| 11 | 4,197 | AKZONOBEL TL B | 0.10% | 96.95 | 96.86 | 10 |
| 12 | 4,000 | T-MOBILE USA TL B | 0.05% | 99.85 | 99.80 | 13 |
| 13 | 3,861 | PETSMART CONSENTED TL B2 | -0.22% | 99.00 | 99.22 | 12 |
| 14 | 3,582 | MISYS TL B | 1.15% | 95.23 | 94.15 | 13 |
| 15 | 3,575 | STARS GROUP TL B | 0.14% | 100.05 | 99.91 | 15 |
| 16 | 3,524 | TRANSDIGM INC. TL F | 1.03% | 94.91 | 93.95 | 13 |
| 17 | 3,415 | ENDO HEALTH TL B | 0.99% | 96.30 | 95.35 | 10 |
| 18 | 3,325 | CINEWORLD TL B | 1.68% | 56.35 | 55.42 | 17 |
| 19 | 3,315 | REYNOLDS GROUP HOLDINGS LIMITED TL B | 0.34% | 98.38 | 98.05 | 10 |
| 20 | 3,312 | HUB INTL LTD TL B | 1.78% | 97.73 | 96.02 | 12 |
| AVERAGE | 4,268 | 0.80% | 94.46 | 93.74 | 12.3 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 10/30/20 – 11/6/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | SINCLAIR BROADCAST GROUP INC. TL B | 15.20% | 71.04 | 61.67 |
| 2 | CAPROCK MIDSTREAM TL B | 9.25% | 76.20 | 69.75 |
| 3 | COLORADO BUYER 2ND LIEN TL | 8.03% | 57.73 | 53.43 |
| 4 | PROGREXION TL | 6.51% | 89.28 | 83.83 |
| 5 | LUMILEDS TL B | 5.06% | 49.25 | 46.88 |
| 6 | CPI CARD GROUP TL B | 5.05% | 90.38 | 86.04 |
| 7 | NEP TL B | 4.70% | 92.27 | 88.12 |
| 8 | AERNNOVA AEROSPACE EUR TL B | 3.96% | 82.72 | 79.57 |
| 9 | LIMETREE BAY TL B | 3.49% | 86.29 | 83.38 |
| 10 | MCGRAW-HILL GLOBAL TL | 3.38% | 92.69 | 89.66 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 10/30/20 – 11/6/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | NATIONAL CINEMEDIA TL B | -12.70% | 60.28 | 69.05 |
| 2 | PEABODY ENERGY TL B | -4.62% | 29.73 | 31.17 |
| 3 | CITGO TL | -4.36% | 89.21 | 93.27 |
| 4 | COGNITA FINANCING PLC EUR TL B1 | -2.98% | 95.00 | 97.92 |
| 5 | EPIC Y-GRADE SERVICES EXT TL B | -2.88% | 77.20 | 79.48 |
| 6 | AREAS EUR TL B1 | -2.39% | 78.60 | 80.53 |
| 7 | APCOA EUR TL B | -2.01% | 90.32 | 92.17 |
| 8 | DELEK TL B | -1.79% | 92.83 | 94.53 |
| 9 | FIELDWOOD ENERGY TL | -1.76% | 22.51 | 22.92 |
| 10 | PYXUS INTERNATIONAL EXIT TL | -1.68% | 93.18 | 94.77 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 10/30/20 – 11/6/20 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 10/30/20 – 11/6/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 10/30/20 vs. the week ending 11/6/20
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | HOFFMASTER TL | 10 | 38 | 28 | 280% |
| 2 | INDEPENDENT VETCARE EUR TL B | 0 | 20 | 20 | N/A |
| 3 | ASPEN DENTAL TL B | 20 | 40 | 20 | 100% |
| 4 | BOYD CORP 2ND LIEN TL | 20 | 40 | 20 | 100% |
| 5 | ZEST DENTAL TL | 20 | 40 | 20 | 100% |
| 6 | HEARTLAND DENTAL TL | 22 | 41 | 19 | 86% |
| 7 | ENSEMBLE HEALTH TL | 17 | 35 | 18 | 106% |
| 8 | ALLIANCE HEALTH TL B | 22 | 40 | 18 | 82% |
| 9 | DIRECT CHASSISLINK 2ND LIEN TL | 20 | 38 | 18 | 90% |
| 10 | SURF HOLDINGS TL B | 32 | 50 | 18 | 56% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 10/30/20 – 11/6/20
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | GTT COMMUNICATIONS TL B | 18 |
| 2 | TELENET EUR TL | 18 |
| 3 | CINEWORLD TL B | 18 |
| 4 | CINEWORLD TL B | 17 |
| 5 | DELL TL B | 17 |
| 6 | SYNLAB EUR TL B3 | 16 |
| 7 | VERISURE EUR TL B | 16 |
| 8 | NTL CABLE PLC EUR TL R | 16 |
| 9 | VERISURE EUR TL B1 | 16 |
| 10 | LUMILEDS TL B | 16 |
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 10/30/20 – 11/6/20 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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