Syndicated Bank Loan Market Summary – Week Ending 12/18/20
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Syndicated Bank Loan Market Summary: Week Ending 12/18/20
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 12/11/20 – 12/18/20
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 10,649 | INOVYN EUR TL B | -0.07% | 99.63 | 99.70 | 10 |
| 2 | 6,451 | REFINITV TL B | 0.02% | 99.85 | 99.82 | 11 |
| 3 | 5,450 | ENVISION HEALTHCARE TL B | -0.68% | 81.96 | 82.52 | 14 |
| 4 | 5,100 | CHANGE HEALTHCARE TL B | 0.13% | 99.27 | 99.14 | 15 |
| 5 | 5,000 | QWEST CORPORATION TL B | 0.04% | 98.42 | 98.38 | 12 |
| 6 | 4,750 | ZAYO TL | 0.21% | 98.99 | 98.78 | 19 |
| 7 | 4,750 | DELL TL B | 0.05% | 100.03 | 99.99 | 17 |
| 8 | 4,700 | CAESARS RESORT COLLECTION TL B | -0.59% | 96.97 | 97.54 | 14 |
| 9 | 4,250 | BERRY PLASTICS TL X | 0.39% | 99.59 | 99.20 | 10 |
| 10 | 4,197 | AKZONOBEL TL B | -0.10% | 98.37 | 98.47 | 11 |
| 11 | 3,582 | MISYS TL B | -0.20% | 97.82 | 98.02 | 14 |
| 12 | 3,575 | STARS GROUP TL B | 0.19% | 100.36 | 100.17 | 17 |
| 13 | 3,524 | TRANSDIGM INC. TL F | -0.02% | 98.05 | 98.08 | 17 |
| 14 | 3,515 | LIFEPOINT HOSPITALS TL B | 0.22% | 99.89 | 99.67 | 16 |
| 15 | 3,415 | ENDO HEALTH TL B | 0.24% | 98.56 | 98.33 | 11 |
| 16 | 3,325 | CINEWORLD TL B | -0.56% | 66.69 | 67.06 | 12 |
| 17 | 3,315 | REYNOLDS GROUP HOLDINGS LIMITED TL B | 0.23% | 99.36 | 99.13 | 10 |
| 18 | 3,312 | HUB INTL LTD TL B | 0.23% | 98.10 | 97.88 | 16 |
| 19 | 3,300 | BMC SOFTWARE TL B | -0.02% | 99.60 | 99.63 | 17 |
| 20 | 3,300 | NTL CABLE PLC TL N | 0.30% | 98.96 | 98.67 | 15 |
| AVERAGE | 4,473 | 0.00% | 96.52 | 96.51 | 13.9 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 12/11/20 – 12/18/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | PEABODY ENERGY TL B | 32.02% | 36.55 | 27.69 |
| 2 | DUEMMEN ORANGE EUR TL B | 18.03% | 46.81 | 39.66 |
| 3 | CRESTWOOD MIDSTREAM TL B | 16.61% | 74.17 | 63.61 |
| 4 | OUTERSTUFF TL B | 12.88% | 59.85 | 53.02 |
| 5 | CLARION EVENTS TL | 10.32% | 88.42 | 80.15 |
| 6 | NAVICO TL B | 7.65% | 91.70 | 85.18 |
| 7 | CONSTELLIS HOLDINGS LLC PIK 2ND LIEN TL | 7.60% | 70.92 | 65.91 |
| 8 | PGS TL B | 7.53% | 79.88 | 74.28 |
| 9 | EQUINOX HLDGS INC 2ND LIEN TL | 6.30% | 66.19 | 62.26 |
| 10 | NBG HOME TL | 6.07% | 77.83 | 73.37 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 12/11/20 – 12/18/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | FRONTERA TL B | -11.43% | 23.36 | 26.38 |
| 2 | CINEWORLD EUR TL B | -7.72% | 67.45 | 73.09 |
| 3 | TRAVELPORT TL B | -3.87% | 68.29 | 71.04 |
| 4 | SOLARWINDS TL | -3.33% | 96.24 | 99.55 |
| 5 | AUDIO VISUAL EXT TL B | -1.85% | 89.28 | 90.96 |
| 6 | HELIX GENERATION TL B | -1.71% | 95.28 | 96.94 |
| 7 | EASTERN POWER TL B | -1.59% | 93.69 | 95.21 |
| 8 | TRITON SOLAR TL B | -1.50% | 88.46 | 89.80 |
| 9 | PARTY CITY TL B | -1.10% | 92.35 | 93.38 |
| 10 | PROAMPAC TL | -0.82% | 98.78 | 99.59 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 12/11/20 – 12/18/20 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 12/11/20 – 12/18/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 12/11/20 vs. the week ending 12/18/20
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | CERAMTEC EUR TL B | 8 | 34 | 26 | 325% |
| 2 | CALPINE CORP TL B5 | 30 | 54 | 24 | 80% |
| 3 | ALLIANT HLDGS I INC TL B | 41 | 65 | 24 | 59% |
| 4 | VERITV TL B | 14 | 37 | 23 | 164% |
| 5 | PENN NATIONAL GAMING TL B1 | 22 | 43 | 21 | 95% |
| 6 | CABLE & WIRELESS TL B5 | 34 | 55 | 21 | 62% |
| 7 | CAESARS RESORT COLLECTION TL B | 32 | 52 | 20 | 63% |
| 8 | CLARIVATE ANALYTICS TL B | 10 | 30 | 20 | 200% |
| 9 | STARS GROUP TL B | 58 | 78 | 20 | 34% |
| 10 | VISTRA ENERGY TL B3 | 40 | 60 | 20 | 50% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 12/11/20 – 12/18/20
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TELENET EUR TL | 20 |
| 2 | BRAND ENERGY TL | 20 |
| 3 | SYNLAB EUR TL B3 | 19 |
| 4 | ZAYO TL | 19 |
| 5 | VERISURE EUR TL B | 19 |
| 6 | ZIGGO EUR TL H | 19 |
| 7 | CAMPING WORLD TL B | 18 |
| 8 | GRIFOLS WORLDWIDE TL B | 18 |
| 9 | SIGMA BIDCO EUR TL B | 18 |
| 10 | EIRCOM FINCO SARL EUR TL B | 18 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 12/11/20 – 12/18/20
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 12/11/20 – 12/18/20 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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