Syndicated Bank Loan Market Summary – Week Ending 3/12/21
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Syndicated Bank Loan Market Summary: Week Ending 3/12/21
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 3/5/21 – 3/12/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | -0.22% | 85.67 | 85.86 | 15 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | 0.03% | 100.04 | 100.01 | 11 |
| 3 | 5,000 | QWEST CORPORATION TL B | 0.05% | 99.30 | 99.25 | 10 |
| 4 | 4,750 | ZAYO TL | -0.03% | 99.49 | 99.52 | 15 |
| 5 | 4,700 | CAESARS RESORT COLLECTION TL B | 0.41% | 98.72 | 98.32 | 13 |
| 6 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | -0.15% | 99.85 | 100.00 | 12 |
| 7 | 4,475 | UNIVISION TL C5 | -0.03% | 99.78 | 99.81 | 10 |
| 8 | 4,250 | BERRY PLASTICS TL Y | -0.06% | 99.77 | 99.83 | 11 |
| 9 | 4,197 | AKZONOBEL TL B | -0.33% | 99.25 | 99.58 | 10 |
| 10 | 3,582 | MISYS TL B | -0.15% | 98.33 | 98.47 | 14 |
| 11 | 3,575 | STARS GROUP TL B | 0.12% | 100.28 | 100.17 | 15 |
| 12 | 3,524 | TRANSDIGM INC. TL F | 0.15% | 98.54 | 98.39 | 13 |
| 13 | 3,515 | LIFEPOINT HOSPITALS TL B | -0.03% | 99.92 | 99.96 | 12 |
| 14 | 3,325 | CINEWORLD TL B | -0.99% | 84.72 | 85.56 | 13 |
| 15 | 3,312 | HUB INTL LTD TL B | -0.02% | 98.81 | 98.84 | 15 |
| 16 | 3,300 | NTL CABLE PLC TL N | -0.20% | 99.20 | 99.40 | 13 |
| 17 | 3,300 | BMC SOFTWARE TL B | -0.06% | 99.81 | 99.87 | 16 |
| 18 | 3,300 | SINCLAIR BROADCAST GROUP INC. TL B | -2.20% | 69.85 | 71.42 | 12 |
| 19 | 3,275 | SCIENTIFIC GAMES TL B5 | 0.04% | 98.32 | 98.28 | 12 |
| 20 | 3,165 | MULTIPLAN TL B | -0.06% | 99.80 | 99.86 | 11 |
| AVERAGE | 3,983 | -0.19% | 96.47 | 96.62 | 12.7 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 3/5/21 – 3/12/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | YAK MAT 2ND LIEN TL B | 11.85% | 78.29 | 70.00 |
| 2 | TRIMARK TL | 10.75% | 59.51 | 53.73 |
| 3 | SANDY CREEK TL B | 9.67% | 66.02 | 60.20 |
| 4 | GOODPACK 2ND LIEN TL B1 | 7.75% | 97.39 | 90.38 |
| 5 | WINEBOW 2ND LIEN TL | 7.15% | 90.00 | 83.99 |
| 6 | SUNSOURCE 2ND LIEN TL | 7.14% | 83.34 | 77.78 |
| 7 | ACCUVANT 2ND LIEN TL | 6.49% | 90.17 | 84.68 |
| 8 | AUDIO VISUAL 2ND LIEN TL | 6.01% | 69.96 | 66.00 |
| 9 | GALILEO GLOBAL EDUCATION 2ND LIEN EUR TL | 5.75% | 98.22 | 92.88 |
| 10 | ADB SAFEGATE 2ND LIEN TL | 5.36% | 79.00 | 74.99 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 3/5/21 – 3/12/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | GLASS MOUNTAIN PIPELINE TL B | -13.51% | 34.49 | 39.88 |
| 2 | MITEL NETWORKS 2ND LIEN TL | -8.30% | 49.82 | 54.33 |
| 3 | PEABODY ENERGY TL B | -6.70% | 39.80 | 42.65 |
| 4 | LUMILEDS TL B | -6.41% | 69.96 | 74.76 |
| 5 | GLOBAL EAGLE ENTERTMNT TL B | -2.11% | 69.25 | 70.74 |
| 6 | RODAN & FIELDS TL B | -1.84% | 84.39 | 85.97 |
| 7 | TALEN ENERGY SUPPLY LLC TL B | -1.48% | 98.18 | 99.66 |
| 8 | MITEL NETWORKS TL | -0.97% | 91.35 | 92.24 |
| 9 | CARECENTRIX TL B | -0.93% | 95.81 | 96.71 |
| 10 | EG GROUP TL B | -0.82% | 98.07 | 98.89 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 3/5/21 – 3/12/21 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 3/5/21 – 3/12/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 3/5/21 vs. the week ending 3/12/21
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | CALPINE CORP TL B9 | 20 | 48 | 28 | 140% |
| 2 | PLAYTIKA HOLDING CORP TL B | 2 | 30 | 28 | 1400% |
| 3 | UNITED NATURAL FOODS TL B | 2 | 26 | 24 | 1200% |
| 4 | APLEONA GMBH EUR TL B | 6 | 30 | 24 | 400% |
| 5 | CPG INTERNATIONAL TL B | 16 | 38 | 22 | 138% |
| 6 | DUFF & PHELPS TL B | 34 | 55 | 21 | 62% |
| 7 | UBER TECHNOLOGIES TL B | 24 | 43 | 19 | 79% |
| 8 | CRH EUROPE EUR TL B | 14 | 32 | 18 | 129% |
| 9 | EPIQ SYSTEMS TL B | 48 | 66 | 18 | 38% |
| 10 | GARRETT MOTION TL B | 4 | 20 | 16 | 400% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 3/5/21 – 3/12/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | BIOGROUP DD EUR TL B | 18 |
| 2 | SIGMA BIDCO EUR TL B1 | 18 |
| 3 | LUMILEDS TL B | 18 |
| 4 | GTT COMMUNICATIONS TL B | 18 |
| 5 | TELENET EUR TL | 18 |
| 6 | AKZONOBEL EUR TL B | 17 |
| 7 | ELSAN GROUPE EUR TL B | 17 |
| 8 | VERISURE EUR TL B | 17 |
| 9 | CEVA SANTE ANIMALE EUR TL B | 17 |
| 10 | SYNLAB EUR TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 3/5/21 – 3/12/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 3/5/21 – 3/12/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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