Syndicated Bank Loan Market Summary – Week Ending 2/18/22
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Syndicated Bank Loan Market Summary: Week Ending 2/18/22
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 2/11/22 – 2/18/22
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 7,270 | MEDLINE TL B | -0.57% | 98.88 | 99.45 | 13 |
| 2 | 5,450 | ENVISION HEALTHCARE TL B | -4.45% | 74.98 | 78.47 | 18 |
| 3 | 5,100 | CHANGE HEALTHCARE TL B | -0.42% | 99.39 | 99.81 | 12 |
| 4 | 4,750 | ZAYO TL | -0.97% | 97.44 | 98.38 | 18 |
| 5 | 4,700 | CAESARS RESORT COLLECTION TL B | -0.52% | 98.90 | 99.42 | 14 |
| 6 | 4,197 | AKZONOBEL TL B | -0.39% | 98.75 | 99.14 | 10 |
| 7 | 3,972 | POWER SOLUTIONS TL B | -0.37% | 98.77 | 99.13 | 11 |
| 8 | 3,900 | DIRECTV TL | -0.28% | 99.80 | 100.08 | 12 |
| 9 | 3,582 | MISYS TL B | -0.76% | 98.68 | 99.44 | 14 |
| 10 | 3,524 | TRANSDIGM INC. TL F | -0.39% | 98.40 | 98.79 | 16 |
| 11 | 3,515 | LIFEPOINT HOSPITALS TL B | -0.43% | 99.07 | 99.50 | 14 |
| 12 | 3,500 | AMERICAN AIRLINES TL B | -0.99% | 102.46 | 103.48 | 10 |
| 13 | 3,380 | SOLERA TL B | -0.26% | 99.53 | 99.79 | 16 |
| 14 | 3,325 | CINEWORLD TL B | 1.08% | 77.04 | 76.21 | 13 |
| 15 | 3,312 | HUB INTL LTD TL B | -0.27% | 98.85 | 99.12 | 18 |
| 16 | 3,300 | NTL CABLE PLC TL N | -0.62% | 98.33 | 98.94 | 12 |
| 17 | 3,300 | DIAMOND SPORTS TL B | -7.90% | 36.79 | 39.94 | 12 |
| 18 | 3,275 | SCIENTIFIC GAMES TL B5 | -0.25% | 99.25 | 99.50 | 14 |
| 19 | 3,100 | JAZZ PHARMA TL B | -0.30% | 99.69 | 99.98 | 12 |
| 20 | 3,100 | ASURION TL B8 | -0.46% | 98.68 | 99.13 | 10 |
| AVERAGE | 3,978 | -0.97% | 93.68 | 94.39 | 13.5 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 2/11/22 – 2/18/22
| RANK | NAME | CHANGE | PX | PX-1M |
|---|---|---|---|---|
| 1 | PGS TL B | 4.16% | 82.82 | 79.51 |
| 2 | THE NORDAM GROUP TL B | 3.35% | 87.52 | 84.69 |
| 3 | WYNN LAS VEGAS LLC / WYNN LAS TL | 1.73% | 99.41 | 97.72 |
| 4 | CINEWORLD TL B | 1.08% | 77.04 | 76.21 |
| 5 | CIBT HOLDINGS TL | 0.86% | 83.06 | 82.36 |
| 6 | NATIONAL CINEMEDIA TL B | 0.79% | 89.09 | 88.38 |
| 7 | SERVICE KING TL B | 0.78% | 93.21 | 92.49 |
| 8 | REFRESCO HOLDING EUR TL B1 | 0.71% | 98.97 | 98.27 |
| 9 | BUCCANEER 2ND LIEN TL | 0.67% | 95.59 | 94.96 |
| 10 | STEINHOFF EUROPE TL A2 | 0.62% | 84.56 | 84.04 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 2/11/22 – 2/18/22
| RANK | NAME | CHANGE | PX | PX-1M |
|---|---|---|---|---|
| 1 | CONSTELLIS HOLDINGS LLC PIK 2ND LIEN TL | -28.51% | 43.07 | 60.25 |
| 2 | HERITAGE POWER TL B | -10.43% | 64.65 | 72.18 |
| 3 | TELESAT TL B | -8.40% | 71.27 | 77.81 |
| 4 | DIAMOND SPORTS TL B | -7.90% | 36.79 | 39.94 |
| 5 | GENESIS CARE EUR TL B | -6.98% | 88.40 | 95.03 |
| 6 | ENVISION HEALTHCARE TL B | -4.45% | 74.98 | 78.47 |
| 7 | 8TH AVENUE FOOD & PROVISIONS EXT TL B | -3.82% | 91.38 | 95.01 |
| 8 | GENESIS CARE TL B | -3.79% | 90.00 | 93.54 |
| 9 | 24 HOUR FITNESS EXIT TL | -2.65% | 70.75 | 72.67 |
| 10 | INTERIOR LOGIC TL B | -2.40% | 94.21 | 96.53 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 2/11/22 – 2/18/22 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 2/11/22 – 2/18/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 2/11/22 vs. the week ending 2/18/22
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | TELESAT TL B | 38 | 62 | 24 | 63% |
| 2 | ADVISOR GROUP TL B | 52 | 74 | 22 | 42% |
| 3 | DEXKO DD TL | 0 | 20 | 20 | NA |
| 4 | SECTOR ALARM HOLDING EUR TL B1 | 36 | 56 | 20 | 56% |
| 5 | COGNITA FINANCING PLC EUR TL B1 | 24 | 43 | 19 | 79% |
| 6 | SEAWORLD TL B | 26 | 44 | 18 | 69% |
| 7 | MEHILAINEN EUR TL B2 | 44 | 62 | 18 | 41% |
| 8 | TRICO PRODUCTS TL B | 34 | 52 | 18 | 53% |
| 9 | INFORMATION RESOURCES TL B | 33 | 50 | 17 | 52% |
| 10 | 8TH AVENUE FOOD & PROVISIONS TL | 12 | 29 | 17 | 142% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 2/11/22 – 2/18/22
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | ENVISION HEALTHCARE TL B | 19 |
| 2 | AMC ENTERTAINMENT TL B1 | 19 |
| 3 | DOUGLAS HOLDING EUR TL B | 19 |
| 4 | LUMILEDS TL B | 18 |
| 5 | HUB INTL LTD TL B | 18 |
| 6 | IFCO EUR TL B | 18 |
| 7 | ZAYO TL | 18 |
| 8 | ACTION NEDERLAND EUR TL B | 17 |
| 9 | GVC HOLDINGS EUR TL B3 | 17 |
| 10 | ZIGGO EUR TL H | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 2/11/22 – 2/18/22
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 2/11/22 – 2/18/22 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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