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Syndicated Bank Loan Market Summary: Week Ending 12/31/21

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 12/23/21 – 12/31/21

RANK	SIZE (MM)	NAME	CHANGE	PX	PX-1W	DEALERS
1	7,270	MEDLINE TL B	0.12%	99.98	99.86	11
2	5,450	ENVISION HEALTHCARE TL B	0.20%	80.13	79.97	14
3	5,000	UNITED CONTINENTAL TL B	-0.23%	100.12	100.35	11
4	4,750	ZAYO TL	0.03%	98.52	98.49	15
5	4,700	CAESARS RESORT COLLECTION TL B	0.10%	99.39	99.29	13
6	4,565	BAUSCH HEALTH COMPANIES INC. TL B	0.12%	99.59	99.47	10
7	3,900	DIRECTV TL	-0.12%	100.03	100.16	12
8	3,582	MISYS TL B	0.25%	99.54	99.29	14
9	3,524	TRANSDIGM INC. TL F	0.03%	98.54	98.51	13
10	3,515	LIFEPOINT HOSPITALS TL B	0.05%	99.85	99.80	13
11	3,380	SOLERA TL B	-0.02%	99.96	99.98	14
12	3,325	CINEWORLD TL B	0.72%	77.13	76.58	14
13	3,312	HUB INTL LTD TL B	-0.13%	98.77	98.90	16
14	3,100	JAZZ PHARMA TL B	0.05%	100.36	100.31	11
15	3,000	DELTA SKYMILES TL B	-0.08%	105.64	105.73	11
16	3,000	WESTINGHOUSE TL B	0.15%	99.21	99.06	14
17	2,985	HARBOR FREIGHT TL B	0.05%	99.76	99.71	14
18	2,884	BMC SOFTWARE TL B	0.23%	99.56	99.34	16
19	2,853	VERTICAL MIDCO GMBH TL B	0.13%	100.00	99.87	10
20	2,825	BRAND ENERGY TL	0.13%	97.65	97.52	14
AVERAGE	3,846		0.09%	97.69	97.61	13.0

Top 20 Winners

Showcases the top 20 loan “winners” based on the largest bid price increases between 12/23/21 – 12/31/21

RANK	NAME	CHANGE	PX	PX-1M
1	CVENT TL B	1.18%	99.79	98.62
2	SHUTTERFLY TL B	0.93%	98.39	97.48
3	4L HOLDINGS EXIT TL	0.81%	95.77	95.00
4	ALBION ACQUISITIONS LTD TL	0.80%	100.20	99.41
5	CINEWORLD TL B	0.72%	77.13	76.58
6	KIK CUSTOM TL B	0.68%	97.07	96.41
7	NATIONAL CINEMEDIA TL B	0.64%	89.68	89.11
8	DIEBOLD TL B	0.56%	98.98	98.43
9	TRAVEL LEADERS TL	0.54%	91.63	91.14
10	IHEART TL B	0.53%	99.79	99.26
11	IRON MOUNTAIN TL B	0.51%	98.50	98.00
12	VICTORIA’S SECRET TL	0.49%	99.86	99.38
13	RCS CAPITAL TL	0.48%	99.98	99.50
14	TRADESMEN TL	0.44%	84.98	84.60
15	FAIRBANKS MORSE CDA LTD 2ND LIEN TL	0.43%	99.64	99.21
16	PAYSAFE TL	0.43%	97.36	96.94
17	CORELOGIC 2ND LIEN TL	0.42%	100.73	100.30
18	SECURUS 2ND LIEN TL	0.42%	95.18	94.78
19	BURGER KING TL B	0.40%	98.62	98.23
20	ATKINS TL B	0.39%	100.72	100.34

Avg Bid PX by Sector

Displays the average loan bid price by sector between 12/23/21 – 12/31/21 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 12/23/21 – 12/31/21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the loans with the largest increase in quote volume for the week ending 12/23/21 vs. the week ending 12/31/21

RANK	TRANCHE	PRIOR WEEK	THIS WEEK	INCREASE	% INCREASE
1	MISTER CAR WASH TL B	39	68	29	74%
2	NASCAR TL B	58	86	28	48%
3	FOCUS FINANCIAL TL B	12	38	26	217%
4	COOPER STANDARD TL B	36	62	26	72%
5	CLUB CORP TL B	29	54	25	86%
6	HB FULLER TL B	44	68	24	55%
7	TRICO PRODUCTS TL B	22	46	24	109%
8	CSC SERVICEWORKS INC TL	44	66	22	50%
9	PLAYA RESORTS TL B	58	80	22	38%
10	APEX TOOLS TL B	34	56	22	65%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 12/23/21 – 12/31/21

RANK	TRANCHE	DEALERS
1	LUMILEDS TL B	18
2	IFCO EUR TL B	18
3	DAE AVIATION TL	18
4	CINEWORLD TL B	17
5	STARK GROUP EUR TL B	16
6	SYNLAB EUR TL B5	16
7	FONCIA GROUPE EUR TL B	16
8	MEHILAINEN EUR TL B2	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 12/23/21 – 12/31/21

Sector Bid-Offer Spread

Displays the bid-offer spread by sector between 12/23/21 – 12/31/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors

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