Syndicated Bank Loan Market Summary – Week Ending 4/17/20
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Syndicated Bank Loan Market Summary: Week Ending 4/17/20
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 4/9/20 – 4/17/20
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | 9.90% | 61.25 | 55.74 | 15 |
| 2 | 4,750 | DELL TL B | 0.24% | 97.98 | 97.75 | 12 |
| 3 | 4,750 | ZAYO TL | 1.60% | 95.86 | 94.35 | 12 |
| 4 | 4,700 | CAESARS RESORT COLLECTION TL | 0.30% | 86.34 | 86.08 | 14 |
| 5 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | 0.01% | 97.23 | 97.22 | 12 |
| 6 | 4,250 | BERRY PLASTICS TL Y | 1.13% | 97.70 | 96.61 | 12 |
| 7 | 3,861 | PETSMART CONSENTED TL B2 | -0.07% | 97.14 | 97.20 | 11 |
| 8 | 3,582 | MISYS TL B | -1.05% | 87.02 | 87.94 | 12 |
| 9 | 3,575 | STARS GROUP TL B | 0.45% | 97.04 | 96.61 | 11 |
| 10 | 3,325 | CINEWORLD TL B | -0.59% | 65.99 | 66.38 | 16 |
| 11 | 3,300 | BMC SOFTWARE TL B | 1.26% | 87.11 | 86.03 | 16 |
| 12 | 3,300 | DIAMOND SPORTS TL B | 12.29% | 81.33 | 72.42 | 10 |
| 13 | 3,300 | NTL CABLE PLC TL N | 0.96% | 96.22 | 95.31 | 11 |
| 14 | 3,275 | SCIENTIFIC GAMES TL B5 | 2.46% | 85.35 | 83.30 | 13 |
| 15 | 3,210 | HUB INTL LTD TL B | 1.78% | 95.27 | 93.60 | 10 |
| 16 | 3,165 | MULTIPLAN TL B | 3.22% | 94.98 | 92.02 | 11 |
| 17 | 3,161 | JAGUAR HOLDING CO I TL | 0.76% | 98.42 | 97.68 | 13 |
| 18 | 2,918 | AVAYA TL B | -3.79% | 88.07 | 91.54 | 10 |
| 19 | 2,902 | FORMULA ONE TL B | 1.11% | 93.33 | 92.30 | 12 |
| 20 | 2,851 | INTEL TL | 0.20% | 97.14 | 96.94 | 12 |
| AVERAGE | 3,710 | 1.61% | 90.04 | 88.85 | 12.3 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 4/9/20 – 4/17/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | TALLGRASS TL B | 30.90% | 69.02 | 52.73 |
| 2 | LEARNING CARE TL B | 27.72% | 79.20 | 62.01 |
| 3 | KINDERCARE LEARNING CENTER TL | 19.22% | 75.66 | 63.46 |
| 4 | ULTRA PETROL CORP EXIT TL | 18.89% | 57.93 | 48.73 |
| 5 | PERSTORP EUR TL | 14.98% | 75.40 | 65.58 |
| 6 | MEDALLION MIDLAND TL B | 14.55% | 67.02 | 58.51 |
| 7 | FLINT GROUP EUR TL B | 14.05% | 81.22 | 71.22 |
| 8 | ALLNEX TL B3 | 13.77% | 84.97 | 74.68 |
| 9 | DOUGLAS HOLDING EUR TL B1 | 13.76% | 68.43 | 60.15 |
| 10 | INMARSAT TL B | 13.75% | 93.00 | 81.75 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 4/9/20 – 4/17/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | MITEL NETWORKS 2ND LIEN TL | -53.28% | 24.14 | 51.66 |
| 2 | ANASTASIA BEVERLY HILLS TL B | -23.92% | 41.03 | 53.93 |
| 3 | BELK EXT TL B | -17.38% | 41.36 | 50.06 |
| 4 | ASCENA RETAIL TL B | -17.26% | 24.16 | 29.21 |
| 5 | CEVA GROUP TL B | -11.17% | 52.10 | 58.65 |
| 6 | HARVEY GULF EXIT TL | -11.01% | 48.66 | 54.68 |
| 7 | WENCOR GROUP TL | -10.48% | 72.22 | 80.67 |
| 8 | YAK MAT TL B | -9.28% | 70.97 | 78.23 |
| 9 | GTT COMMUNICATIONS TL B | -9.10% | 69.20 | 76.13 |
| 10 | EIF VAN HOOK HOLDINGS TL B | -6.17% | 63.81 | 68.00 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 4/9/20 – 4/17/20 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 4/9/20 – 4/17/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 4/9/20 vs. the week ending 4/17/20
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | HERTZ TL | 40 | 62 | 22 | 55% |
| 2 | TRANSDIGM INC. TL G | 48 | 69 | 21 | 44% |
| 3 | TRANSDIGM INC. TL F | 49 | 68 | 19 | 39% |
| 4 | PARTY CITY TL B | 28 | 47 | 19 | 68% |
| 5 | AVOLON TL B3 | 43 | 60 | 17 | 40% |
| 6 | DEALOGIC TL B | 2 | 18 | 16 | 800% |
| 7 | EASTERN POWER TL B | 33 | 48 | 15 | 45% |
| 8 | CALPINE CORP TL B10 | 25 | 40 | 15 | 60% |
| 9 | ROYALTY PHARMA TL B | 35 | 50 | 15 | 43% |
| 10 | SBA COMMUNICATIONS CORP TL B | 31 | 46 | 15 | 48% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 4/9/20 – 4/17/20
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TRANSDIGM INC. TL F | 18 |
| 2 | VERISURE EUR TL B1 | 17 |
| 3 | PARTY CITY TL B | 17 |
| 4 | AMERICAN AIRLINES TL B | 16 |
| 5 | CINEWORLD TL B | 16 |
| 6 | BMC SOFTWARE TL B | 16 |
| 7 | HILTON TL B | 16 |
| 8 | EIRCOM FINCO SARL EUR TL B | 16 |
| 9 | TECHEM EUR TL B | 16 |
| 10 | ENVISION HEALTHCARE TL B | 15 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 4/9/20 – 4/17/20
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 4/9/20 – 4/17/20 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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