Syndicated Bank Loan Market Summary – Week Ending 3/5/21
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Syndicated Bank Loan Market Summary: Week Ending 3/5/21
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 2/26/21 – 3/5/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | 0.67% | 85.86 | 85.29 | 16 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | -0.12% | 100.01 | 100.13 | 11 |
| 3 | 5,000 | QWEST CORPORATION TL B | -0.34% | 99.25 | 99.59 | 10 |
| 4 | 4,750 | DELL TL B | -0.12% | 100.18 | 100.30 | 15 |
| 5 | 4,750 | ZAYO TL | -0.28% | 99.52 | 99.80 | 15 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL B | -0.12% | 98.32 | 98.44 | 13 |
| 7 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | -0.11% | 100.00 | 100.11 | 11 |
| 8 | 4,475 | UNIVISION TL C5 | -0.09% | 99.81 | 99.90 | 10 |
| 9 | 4,250 | BERRY PLASTICS TL Y | -0.11% | 99.83 | 99.94 | 12 |
| 10 | 3,582 | MISYS TL B | -0.35% | 98.47 | 98.82 | 14 |
| 11 | 3,575 | STARS GROUP TL B | -0.20% | 100.17 | 100.37 | 15 |
| 12 | 3,524 | TRANSDIGM INC. TL F | -0.24% | 98.39 | 98.62 | 13 |
| 13 | 3,515 | LIFEPOINT HOSPITALS TL B | -0.15% | 99.96 | 100.11 | 12 |
| 14 | 3,325 | CINEWORLD TL B | -0.89% | 85.56 | 86.33 | 12 |
| 15 | 3,312 | HUB INTL LTD TL B | -0.04% | 98.84 | 98.88 | 14 |
| 16 | 3,300 | NTL CABLE PLC TL N | -0.30% | 99.40 | 99.69 | 14 |
| 17 | 3,300 | BMC SOFTWARE TL B | -0.07% | 99.87 | 99.94 | 16 |
| 18 | 3,300 | SINCLAIR BROADCAST GROUP INC. TL B | -7.97% | 71.42 | 77.61 | 12 |
| 19 | 3,275 | SCIENTIFIC GAMES TL B5 | -0.15% | 98.28 | 98.43 | 12 |
| 20 | 3,165 | MULTIPLAN TL B | -0.01% | 99.86 | 99.88 | 11 |
| AVERAGE | 4,011 | -0.55% | 96.65 | 97.11 | 12.9 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 2/26/21 – 3/5/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | BUCCANEER 2ND LIEN TL | 53.45% | 97.06 | 63.25 |
| 2 | WORLDSTRIDES PIK HOLDCO TL | 18.98% | 41.50 | 34.88 |
| 3 | ISAGENIX TL | 8.57% | 68.87 | 63.43 |
| 4 | COLOUR BIDCO GBP TL | 6.56% | 89.40 | 83.90 |
| 5 | CENVEO EXIT TL | 6.19% | 98.25 | 92.52 |
| 6 | WOODFORD EXPRESS TL B | 4.70% | 89.06 | 85.07 |
| 7 | APPLE LEISURE TL | 4.44% | 88.00 | 84.25 |
| 8 | RENTPATH TL | 4.25% | 88.73 | 85.12 |
| 9 | PGS TL B | 4.07% | 83.74 | 80.47 |
| 10 | HURTIGRUTEN GROUP EUR TL B | 3.95% | 91.00 | 87.54 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 2/26/21 – 3/5/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | SANDY CREEK TL B | -11.91% | 60.20 | 68.33 |
| 2 | SINCLAIR BROADCAST GROUP INC. TL B | -7.97% | 71.42 | 77.61 |
| 3 | AT&T COLOCATION TL | -4.67% | 92.08 | 96.59 |
| 4 | RIVERBED PIK 2ND LIEN TL | -2.52% | 78.86 | 80.90 |
| 5 | GEO GROUP TL B | -1.57% | 89.59 | 91.02 |
| 6 | VUE INTERNATIONAL BIDCO PLC DD EUR TL B | -1.52% | 90.72 | 92.12 |
| 7 | COLORADO BUYER TL | -1.38% | 97.04 | 98.40 |
| 8 | LAIRD TL B | -1.27% | 98.13 | 99.40 |
| 9 | UNIFRAX TL B | -1.10% | 94.14 | 95.19 |
| 10 | HARLAND CLARKE TL B7 | -0.95% | 94.40 | 95.30 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 2/26/21 – 3/5/21 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 2/26/21 – 3/5/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 2/26/21 vs. the week ending 3/5/21
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | ULTIMATE SOFTWARE TL | 20 | 41 | 21 | 105% |
| 2 | ULTIMATE SOFTWARE TL | 36 | 57 | 21 | 58% |
| 3 | NATIONAL MENTOR TL B | 20 | 40 | 20 | 100% |
| 4 | ELEMENT MATERIALS EUR TL B | 20 | 40 | 20 | 100% |
| 5 | IGM RESIN EUR TL | 30 | 50 | 20 | 67% |
| 6 | INSPIRED FINCO HOLDINGS EUR TL B | 0 | 20 | 20 | NA |
| 7 | HURTIGRUTEN GROUP EUR TL C | 18 | 36 | 18 | 100% |
| 8 | PLANET FITNESS TL B | 4 | 22 | 18 | 450% |
| 9 | FLAKT WOODS EUR TL B | 19 | 36 | 17 | 89% |
| 10 | HYLAND SOFTWARE TL | 30 | 46 | 16 | 53% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 2/26/21 – 3/5/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TELENET EUR TL | 19 |
| 2 | BIOGROUP DD EUR TL B | 18 |
| 3 | GTT COMMUNICATIONS TL B | 18 |
| 4 | ZIGGO EUR TL H | 18 |
| 5 | ENVISION HEALTHCARE TL B | 18 |
| 6 | SYNLAB EUR TL B | 18 |
| 7 | TECHEM EUR TL B4 | 18 |
| 8 | AKZONOBEL EUR TL B | 17 |
| 9 | NTL CABLE PLC EUR TL R | 17 |
| 10 | VERISURE EUR TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 2/26/21 – 3/5/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 2/26/21 – 3/5/21 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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