Syndicated Bank Loan Market Summary – Week Ending 2/26/21
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Syndicated Bank Loan Market Summary: Week Ending 2/26/21
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 2/19/21 – 2/26/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | 2.00% | 85.29 | 83.62 | 17 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | -0.04% | 100.13 | 100.17 | 11 |
| 3 | 5,000 | QWEST CORPORATION TL B | -0.14% | 99.59 | 99.73 | 11 |
| 4 | 4,750 | ZAYO TL | -0.09% | 99.80 | 99.89 | 15 |
| 5 | 4,750 | DELL TL B | 0.05% | 100.30 | 100.25 | 16 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL B | -0.33% | 98.44 | 98.76 | 14 |
| 7 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | -0.14% | 100.11 | 100.25 | 10 |
| 8 | 4,475 | UNIVISION TL C5 | -0.01% | 99.90 | 99.91 | 10 |
| 9 | 4,250 | BERRY PLASTICS TL Y | -0.09% | 99.94 | 100.03 | 14 |
| 10 | 3,582 | MISYS TL B | -0.21% | 98.82 | 99.03 | 14 |
| 11 | 3,575 | STARS GROUP TL B | 0.05% | 100.37 | 100.32 | 15 |
| 12 | 3,524 | TRANSDIGM INC. TL F | -0.08% | 98.62 | 98.71 | 14 |
| 13 | 3,515 | LIFEPOINT HOSPITALS TL B | -0.10% | 100.11 | 100.21 | 13 |
| 14 | 3,415 | ENDO HEALTH TL B | -0.17% | 99.60 | 99.77 | 10 |
| 15 | 3,325 | CINEWORLD TL B | 6.20% | 86.33 | 81.30 | 13 |
| 16 | 3,312 | HUB INTL LTD TL B | -0.28% | 98.88 | 99.16 | 12 |
| 17 | 3,300 | BMC SOFTWARE TL B | -0.20% | 99.94 | 100.14 | 17 |
| 18 | 3,300 | NTL CABLE PLC TL N | -0.24% | 99.69 | 99.94 | 15 |
| 19 | 3,300 | SINCLAIR BROADCAST GROUP INC. TL B | -6.68% | 77.61 | 83.16 | 11 |
| 20 | 3,275 | SCIENTIFIC GAMES TL B5 | -0.43% | 98.43 | 98.86 | 12 |
| AVERAGE | 4,023 | -0.05% | 97.10 | 97.16 | 13.2 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 2/19/21 – 2/26/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | RENTPATH TL | 107.16% | 85.12 | 41.09 |
| 2 | WORLDSTRIDES PIK HOLDCO TL | 44.13% | 34.88 | 24.20 |
| 3 | COLORADO BUYER 2ND LIEN TL | 13.03% | 99.48 | 88.01 |
| 4 | PEAK 10 2ND LIEN TL | 9.46% | 82.37 | 75.25 |
| 5 | ELECTRONICS FOR IMAGING 2ND LIEN TL | 8.43% | 65.06 | 60.00 |
| 6 | CINEWORLD EUR TL B | 6.83% | 84.44 | 79.04 |
| 7 | SANDY CREEK TL B | 6.22% | 68.33 | 64.34 |
| 8 | AMC ENTERTAINMENT TL B1 | 4.57% | 86.08 | 82.32 |
| 9 | CIBT HOLDINGS TL | 4.49% | 80.26 | 76.81 |
| 10 | VUE INTERNATIONAL BIDCO PLC EUR TL B | 4.40% | 90.66 | 86.84 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 2/19/21 – 2/26/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | RENFRO TL B | -8.32% | 33.99 | 37.08 |
| 2 | SINCLAIR BROADCAST GROUP INC. TL B | -6.68% | 77.61 | 83.16 |
| 3 | GTT COMMUNICATIONS EUR TL B | -3.95% | 83.41 | 86.84 |
| 4 | ARRAY CANADA TL B | -1.40% | 58.85 | 59.69 |
| 5 | AECOM TECH TL B | -0.83% | 99.44 | 100.27 |
| 6 | SPECTRUM PLASTICS TL | -0.81% | 94.97 | 95.75 |
| 7 | EVERI PAYMENTS INC TL | -0.80% | 98.53 | 99.32 |
| 8 | INVENERGY TL B | -0.77% | 99.05 | 99.82 |
| 9 | AMEX GBT TL B | -0.76% | 95.82 | 96.55 |
| 10 | PACKERS HOLDINGS TL | -0.75% | 100.00 | 100.75 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 2/19/21 – 2/26/21 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 2/19/21 – 2/26/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 2/19/21 vs. the week ending 2/26/21
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | QUIKRETE TL B | 56 | 85 | 29 | 52% |
| 2 | SCIENTIFIC GAMES TL B5 | 20 | 49 | 29 | 145% |
| 3 | ONTIC TL B | 16 | 44 | 28 | 175% |
| 4 | ZIGGO TL I | 46 | 70 | 24 | 52% |
| 5 | VIRTU FINANCIAL TL | 24 | 46 | 22 | 92% |
| 6 | SS&C TECH TL B5 | 39 | 61 | 22 | 56% |
| 7 | DELL TL B | 24 | 46 | 22 | 92% |
| 8 | FILTRATION GROUP TL B | 40 | 61 | 21 | 53% |
| 9 | HOSTESS BRANDS TL | 30 | 51 | 21 | 70% |
| 10 | HUSKY INJECTION MOLDING TL B | 42 | 63 | 21 | 50% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 2/19/21 – 2/26/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TELENET EUR TL | 20 |
| 2 | ZIGGO EUR TL H | 19 |
| 3 | LUMILEDS TL B | 19 |
| 4 | GTT COMMUNICATIONS TL B | 19 |
| 5 | TECHEM EUR TL B4 | 18 |
| 6 | NUMERICABLE EUR TL B12 | 18 |
| 7 | ELSAN GROUPE EUR TL B | 18 |
| 8 | SYNLAB EUR TL B | 18 |
| 9 | AKZONOBEL EUR TL B | 17 |
| 10 | BRAND ENERGY TL | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 2/19/21 – 2/26/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 2/19/21 – 2/26/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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