Syndicated Bank Loan Market Summary – Week Ending 2/5/21
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Syndicated Bank Loan Market Summary: Week Ending 2/5/21
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 1/29/21 – 2/5/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 10,649 | INOVYN EUR TL B | 0.07% | 99.41 | 99.34 | 10 |
| 2 | 6,451 | REFINITV TL B | -0.01% | 99.86 | 99.88 | 10 |
| 3 | 5,450 | ENVISION HEALTHCARE TL B | -1.66% | 84.43 | 85.85 | 15 |
| 4 | 5,100 | CHANGE HEALTHCARE TL B | -0.04% | 100.12 | 100.17 | 11 |
| 5 | 5,000 | QWEST CORPORATION TL B | 0.18% | 99.78 | 99.61 | 11 |
| 6 | 4,750 | ZAYO TL | 0.22% | 99.85 | 99.62 | 15 |
| 7 | 4,750 | DELL TL B | 0.27% | 100.42 | 100.16 | 16 |
| 8 | 4,700 | CAESARS RESORT COLLECTION TL B | 0.55% | 98.57 | 98.03 | 14 |
| 9 | 4,250 | BERRY PLASTICS TL Y | 0.28% | 100.03 | 99.75 | 13 |
| 10 | 4,246 | PETSMART NON-CONSENTED TL B2 | 0.13% | 99.89 | 99.77 | 10 |
| 11 | 3,582 | MISYS TL B | 0.63% | 98.73 | 98.11 | 13 |
| 12 | 3,575 | STARS GROUP TL B | -0.09% | 100.27 | 100.36 | 15 |
| 13 | 3,524 | TRANSDIGM INC. TL F | -0.15% | 98.29 | 98.44 | 14 |
| 14 | 3,515 | LIFEPOINT HOSPITALS TL B | 0.35% | 100.14 | 99.79 | 12 |
| 15 | 3,415 | ENDO HEALTH TL B | -0.08% | 99.73 | 99.81 | 10 |
| 16 | 3,325 | CINEWORLD TL B | 2.78% | 80.26 | 78.09 | 13 |
| 17 | 3,315 | REYNOLDS GROUP HOLDINGS LIMITED TL B | 0.04% | 99.95 | 99.91 | 10 |
| 18 | 3,312 | HUB INTL LTD TL B | 0.08% | 99.22 | 99.14 | 15 |
| 19 | 3,300 | BMC SOFTWARE TL B | 0.30% | 100.10 | 99.80 | 16 |
| 20 | 3,300 | SINCLAIR BROADCAST GROUP INC. TL B | -3.60% | 84.51 | 87.67 | 11 |
| AVERAGE | 4,475 | 0.01% | 97.18 | 97.16 | 12.7 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 1/29/21 – 2/5/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | CATALINA MARKETING EXIT PIK TL | 22.34% | 33.29 | 27.21 |
| 2 | STEINHOFF EUROPE PIK 2ND LIEN EUR TL A2 | 11.83% | 77.16 | 69.00 |
| 3 | COLOUR BIDCO GBP TL | 11.02% | 86.61 | 78.01 |
| 4 | FLAKT WOODS EUR TL B | 9.70% | 88.44 | 80.62 |
| 5 | EQUINOX HLDGS INC 2ND LIEN TL | 9.67% | 77.41 | 70.58 |
| 6 | SAMARCO MINERACAO TL | 7.34% | 68.35 | 63.67 |
| 7 | DAYCO TL B | 5.50% | 89.08 | 84.44 |
| 8 | HARLAND CLARKE TL B7 | 5.27% | 94.06 | 89.34 |
| 9 | ISAGENIX TL | 4.14% | 58.14 | 55.82 |
| 10 | SGB-SMIT EUR TL B | 3.33% | 77.92 | 75.41 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 1/29/21 – 2/5/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | MENS WEARHOUSE EXIT TL | -11.86% | 74.41 | 84.42 |
| 2 | LIGHTSTONE GENERATION LLC TL B | -4.54% | 89.06 | 93.29 |
| 3 | PEABODY ENERGY TL B | -3.68% | 48.15 | 49.99 |
| 4 | SINCLAIR BROADCAST GROUP INC. TL B | -3.60% | 84.51 | 87.67 |
| 5 | MILLER’S ALE HOUSE TL B | -2.92% | 92.06 | 94.83 |
| 6 | AMC ENTERTAINMENT TL B1 | -2.46% | 80.83 | 82.87 |
| 7 | BUCCANEER 2ND LIEN TL | -2.35% | 62.51 | 64.01 |
| 8 | ALSTOM SA TL B2 | -2.20% | 78.58 | 80.35 |
| 9 | ENVISION HEALTHCARE PIK TL B | -2.00% | 79.84 | 81.47 |
| 10 | UNIFRAX TL B | -1.80% | 93.68 | 95.40 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 1/29/21 – 2/5/21 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 1/29/21 – 2/5/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 1/29/21 vs. the week ending 2/5/21
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | UFC TL B | 32 | 50 | 18 | 56% |
| 2 | WESTINGHOUSE TL B | 8 | 26 | 18 | 225% |
| 3 | GTT COMMUNICATIONS DD PIK TL | 0 | 16 | 16 | N/A |
| 4 | B&B HOTELS 2ND LIEN EUR TL | 14 | 28 | 14 | 100% |
| 5 | BIG ASS SOLUTIONS TL B | 10 | 24 | 14 | 140% |
| 6 | CAMBREX CORP TL | 12 | 26 | 14 | 117% |
| 7 | HOTELBEDS EUR REV | 0 | 12 | 12 | N/A |
| 8 | KANTAR REV | 0 | 12 | 12 | N/A |
| 9 | TULLOW OIL REV | 6 | 18 | 12 | 200% |
| 10 | PRIMESOURCE BUILDING TL B | 16 | 28 | 12 | 75% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 1/29/21 – 2/5/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TELENET EUR TL | 20 |
| 2 | SYNLAB EUR TL B | 18 |
| 3 | CEVA SANTE ANIMALE EUR TL B | 18 |
| 4 | TECHEM EUR TL B4 | 18 |
| 5 | ZIGGO EUR TL H | 18 |
| 6 | VERISURE EUR TL B | 18 |
| 7 | NUMERICABLE EUR TL B12 | 18 |
| 8 | GTT COMMUNICATIONS TL B | 18 |
| 9 | ELSAN GROUPE EUR TL B | 18 |
| 10 | EIRCOM FINCO SARL EUR TL B | 18 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 1/29/21 – 2/5/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 1/29/21 – 2/5/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Stay up-to-date with weekly summaries.
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