Syndicated Bank Loan Market Summary – Week Ending 2/11/22
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Syndicated Bank Loan Market Summary: Week Ending 2/11/22
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 2/4/22 – 2/11/22
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | -0.80% | 78.47 | 79.10 | 16 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | -0.03% | 99.81 | 99.84 | 11 |
| 3 | 4,750 | ZAYO TL | -0.23% | 98.38 | 98.62 | 17 |
| 4 | 4,700 | CAESARS RESORT COLLECTION TL B | -0.20% | 99.42 | 99.62 | 14 |
| 5 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | -0.10% | 99.66 | 99.77 | 10 |
| 6 | 4,197 | AKZONOBEL TL B | -0.14% | 99.14 | 99.28 | 10 |
| 7 | 3,900 | DIRECTV TL | -0.07% | 100.08 | 100.15 | 12 |
| 8 | 3,582 | MISYS TL B | -0.28% | 99.44 | 99.72 | 15 |
| 9 | 3,524 | TRANSDIGM INC. TL F | -0.19% | 98.79 | 98.98 | 16 |
| 10 | 3,515 | LIFEPOINT HOSPITALS TL B | -0.19% | 99.50 | 99.69 | 13 |
| 11 | 3,500 | PILOT TRAVEL TL B | -0.28% | 99.05 | 99.33 | 10 |
| 12 | 3,500 | AMERICAN AIRLINES TL B | -0.35% | 103.48 | 103.85 | 10 |
| 13 | 3,325 | CINEWORLD TL B | 0.38% | 76.21 | 75.93 | 14 |
| 14 | 3,312 | HUB INTL LTD TL B | -0.03% | 99.12 | 99.15 | 16 |
| 15 | 3,300 | NTL CABLE PLC TL N | -0.06% | 98.94 | 99.00 | 11 |
| 16 | 3,300 | DIAMOND SPORTS TL B | -1.27% | 39.94 | 40.45 | 11 |
| 17 | 3,275 | SCIENTIFIC GAMES TL B5 | -0.24% | 99.50 | 99.73 | 13 |
| 18 | 3,100 | JAZZ PHARMA TL B | -0.13% | 99.98 | 100.12 | 13 |
| 19 | 3,100 | ASURION TL B8 | -0.38% | 99.13 | 99.51 | 10 |
| 20 | 3,000 | WESTINGHOUSE TL B | -0.30% | 99.03 | 99.32 | 14 |
| AVERAGE | 3,800 | -0.24% | 94.35 | 94.56 | 12.8 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 2/4/22 – 2/11/22
| RANK | NAME | CHANGE | PX | PX-1M |
|---|---|---|---|---|
| 1 | TRILLIANT FOOD TL B | 6.53% | 90.62 | 85.07 |
| 2 | OUTERSTUFF TL B | 4.85% | 84.91 | 80.98 |
| 3 | THE NORDAM GROUP TL B | 4.53% | 84.69 | 81.02 |
| 4 | PEABODY ENERGY TL B | 3.66% | 94.12 | 90.80 |
| 5 | SERTA SIMMONS TL | 2.20% | 65.52 | 64.11 |
| 6 | GLOBAL TELESYSTEMS 2ND LIEN TL | 2.00% | 96.93 | 95.03 |
| 7 | ATLAS GROUP TL | 1.38% | 94.34 | 93.06 |
| 8 | V GROUP TL B | 1.34% | 86.89 | 85.75 |
| 9 | SAVERGLASS EUR TL B | 0.96% | 99.95 | 99.00 |
| 10 | SHAPE TECHNOLOGIES TL | 0.78% | 94.19 | 93.46 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 2/4/22 – 2/11/22
| RANK | NAME | CHANGE | PX | PX-1M |
|---|---|---|---|---|
| 1 | EASTERN POWER TL B | -9.72% | 66.76 | 73.94 |
| 2 | PGS TL B | -7.52% | 80.88 | 87.46 |
| 3 | TORTOISE INVESTMENT TL | -6.86% | 65.73 | 70.57 |
| 4 | TELESAT TL B | -4.99% | 77.81 | 81.90 |
| 5 | 2U TL | -4.59% | 95.05 | 99.61 |
| 6 | WEIGHT WATCHERS TL B | -3.56% | 91.49 | 94.87 |
| 7 | HERITAGE POWER TL B | -3.50% | 72.18 | 74.80 |
| 8 | US TELEPACIFIC TL B | -3.25% | 71.50 | 73.89 |
| 9 | MICHAELS STORES TL | -2.70% | 95.46 | 98.11 |
| 10 | HURTIGRUTEN GROUP EUR TL B | -1.85% | 92.53 | 94.27 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 2/4/22 – 2/11/22 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 2/4/22 – 2/11/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 2/4/22 vs. the week ending 2/11/22
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | PGS TL B | 0 | 42 | 42 | NA |
| 2 | ALBANY MOLECULAR TL B | 18 | 50 | 32 | 178% |
| 3 | UNITED NATURAL FOODS TL B | 34 | 58 | 24 | 71% |
| 4 | HOFFMASTER TL | 39 | 59 | 20 | 51% |
| 5 | AMERICAN REF-FUEL CO LLC TL B | 37 | 56 | 19 | 51% |
| 6 | MEDPLAST 2ND LIEN TL | 12 | 30 | 18 | 150% |
| 7 | HEARTHSIDE FOODS TL B2 | 36 | 52 | 16 | 44% |
| 8 | GLOBAL TELESYSTEMS 2ND LIEN TL | 30 | 46 | 16 | 53% |
| 9 | BROOKS AUTOMATION TL B | 30 | 46 | 16 | 53% |
| 10 | AMES TRUE TEMPER INC TL B | 44 | 60 | 16 | 36% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 2/4/22 – 2/11/22
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | DOUGLAS HOLDING EUR TL B | 19 |
| 2 | LUMILEDS TL B | 18 |
| 3 | IFCO EUR TL B | 18 |
| 4 | ALPHA BIDCO EUR TL B | 17 |
| 5 | ACTION NEDERLAND EUR TL B | 17 |
| 6 | ENVISION HEALTHCARE TL B | 17 |
| 7 | ZIGGO EUR TL H | 17 |
| 8 | GVC HOLDINGS EUR TL B3 | 17 |
| 9 | NTL CABLE PLC EUR TL R | 17 |
| 10 | SYNLAB EUR TL B5 | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 2/4/22 – 2/11/22
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 2/4/22 – 2/11/22 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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