Syndicated Bank Loan Market Summary – Week Ending 2/4/22
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Syndicated Bank Loan Market Summary: Week Ending 2/4/22
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 1/28/22 – 2/4/22
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 7,270 | MEDLINE TL B | 0.04% | 99.61 | 99.57 | 11 |
| 2 | 5,450 | ENVISION HEALTHCARE TL B | 2.54% | 79.10 | 77.14 | 17 |
| 3 | 5,100 | CHANGE HEALTHCARE TL B | -0.03% | 99.84 | 99.87 | 11 |
| 4 | 5,000 | UNITED CONTINENTAL TL B | 0.22% | 100.20 | 99.99 | 10 |
| 5 | 4,750 | ZAYO TL | 0.03% | 98.62 | 98.59 | 17 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL B | 0.22% | 99.62 | 99.40 | 15 |
| 7 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | -0.01% | 99.77 | 99.77 | 11 |
| 8 | 4,197 | AKZONOBEL TL B | -0.04% | 99.28 | 99.32 | 10 |
| 9 | 3,972 | POWER SOLUTIONS TL B | 0.03% | 99.46 | 99.44 | 10 |
| 10 | 3,900 | DIRECTV TL | -0.02% | 100.15 | 100.17 | 13 |
| 11 | 3,582 | MISYS TL B | 0.06% | 99.72 | 99.66 | 16 |
| 12 | 3,524 | TRANSDIGM INC. TL F | 0.00% | 98.98 | 98.98 | 14 |
| 13 | 3,515 | LIFEPOINT HOSPITALS TL B | 0.00% | 99.69 | 99.69 | 14 |
| 14 | 3,500 | AMERICAN AIRLINES TL B | 0.09% | 103.85 | 103.75 | 10 |
| 15 | 3,500 | PILOT TRAVEL TL B | -0.17% | 99.33 | 99.50 | 10 |
| 16 | 3,450 | GOLDEN NUGGET INC TL B | 0.12% | 100.33 | 100.22 | 13 |
| 17 | 3,380 | SOLERA TL B | 0.01% | 99.93 | 99.92 | 15 |
| 18 | 3,325 | CINEWORLD TL B | 0.04% | 75.93 | 75.90 | 15 |
| 19 | 3,312 | HUB INTL LTD TL B | -0.18% | 99.15 | 99.32 | 16 |
| 20 | 3,300 | NTL CABLE PLC TL N | -0.12% | 99.00 | 99.12 | 12 |
| AVERAGE | 4,165 | 0.14% | 97.58 | 97.47 | 13.0 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 1/28/22 – 2/4/22
| RANK | NAME | CHANGE | PX | PX-1M |
|---|---|---|---|---|
| 1 | SERTA SIMMONS TL | 3.59% | 64.11 | 61.89 |
| 2 | ENVISION HEALTHCARE PIK TL B | 3.30% | 77.15 | 74.69 |
| 3 | AMC ENTERTAINMENT TL B1 | 2.94% | 91.12 | 88.52 |
| 4 | GLOBAL TELESYSTEMS 2ND LIEN TL | 2.92% | 95.03 | 92.34 |
| 5 | FRANKLIN ENERGY TL | 1.55% | 85.81 | 84.50 |
| 6 | COOPER STANDARD TL B | 1.03% | 93.85 | 92.90 |
| 7 | CEDAR FAIR TL B | 0.97% | 99.46 | 98.51 |
| 8 | BUCCANEER TL | 0.69% | 99.80 | 99.11 |
| 9 | TDC EUR TL B | 0.67% | 99.80 | 99.13 |
| 10 | CITADEL TL B | 0.60% | 99.71 | 99.11 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 1/28/22 – 2/4/22
| RANK | NAME | CHANGE | PX | PX-1M |
|---|---|---|---|---|
| 1 | TRILLIANT FOOD TL B | -5.62% | 85.07 | 90.13 |
| 2 | ASSOCIATED ASPHALT PARTNERS TL B | -5.02% | 82.47 | 86.83 |
| 3 | TORTOISE INVESTMENT TL | -4.29% | 70.57 | 73.73 |
| 4 | PGS TL B | -4.01% | 79.84 | 83.17 |
| 5 | EASTERN POWER TL B | -3.90% | 73.94 | 76.94 |
| 6 | COLE HAAN TL B1 | -3.36% | 89.89 | 93.01 |
| 7 | DIAMOND SPORTS TL B | -3.00% | 40.45 | 41.70 |
| 8 | CAREERBUILDER TL | -2.98% | 78.94 | 81.37 |
| 9 | GTT COMMUNICATIONS TL B | -1.99% | 85.63 | 87.37 |
| 10 | WEIGHT WATCHERS TL B | -1.41% | 94.87 | 96.23 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 1/28/22 – 2/4/22 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 1/28/22 – 2/4/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 1/28/22 vs. the week ending 2/4/22
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | BAUSCH HEALTH COMPANIES INC. TL B | 17 | 79 | 62 | 365% |
| 2 | BUCCANEER TL | 6 | 42 | 36 | 600% |
| 3 | VALUE-BASED TL | 4 | 36 | 32 | 800% |
| 4 | NORTONLIFELOCK TL B | 2 | 26 | 24 | 1200% |
| 5 | AMES TRUE TEMPER INC TL B | 22 | 44 | 22 | 100% |
| 6 | ALBAUGH TL B | 10 | 32 | 22 | 220% |
| 7 | GARDNER DENVER TL B2 | 38 | 59 | 21 | 55% |
| 8 | RCN GRANDE TL B | 50 | 69 | 19 | 38% |
| 9 | PGS TL B | 26 | 44 | 18 | 69% |
| 10 | DELOS FINANCE SA TL B | 40 | 58 | 18 | 45% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 1/28/22 – 2/4/22
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | LUMILEDS TL B | 20 |
| 2 | DOUGLAS HOLDING EUR TL B | 19 |
| 3 | LIGHTSTONE GENERATION LLC TL B | 18 |
| 4 | ENVISION HEALTHCARE TL B | 18 |
| 5 | IFCO EUR TL B | 18 |
| 6 | ALPHA BIDCO EUR TL B | 18 |
| 7 | SYNLAB EUR TL B5 | 17 |
| 8 | INEOS FIN TL B | 17 |
| 9 | ACTION NEDERLAND EUR TL B | 17 |
| 10 | GVC HOLDINGS EUR TL B3 | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 1/28/22 – 2/4/22
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 1/28/22 – 2/4/22 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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